09:49     ASIA STANDARD<00129> - Announcement & Resumption (5)                

    company whose shares are listed on the Stock Exchange. AOCL is an         
    investment holding company, the principal investment of which is the      
    holding of shares in the Company.                                         
                                                                              
    INFORMATION OF ASIA ORIENT HOLDINGS LIMITED                               
    Asia Orient Holdings Limited is an investment holding company, the        
    principal investment of which is the holding of shares in the Company     
    through its subsidiaries.                                                 
                                                                              
    GENERAL                                                                   
    As the Subscriptions are conditional and the Placing is subject to        
    termination by the Placing Agent, the Placing and the Subscriptions       
    may or may not proceed. Investors and shareholders are advised to         
    exercise caution when dealing in the Shares of the Company.               
                                                                              
    A circular on the Grosvenor Subscription (including the opinion of        
    the independent financial adviser to be appointed to advise the           
    independent Board) and the notice convening the special general           
    meeting to approve the connected transaction will be despatched to        
    the shareholders of the Company.                                          
                                                                              
    DEFINITIONS                                                               
    As used in this announcement, the following words and phrases have        
    the meanings assigned:                                                    
                                                                              
    `AO Subscription'              the subscription by the                    
                                   Vendors of 820,000,000 new                 
                                   Shares                                     
    `AOCL'                         Asia Orient Company Limited                
    `AO Subscription Agreement'    the Subscription Agreement                 
                                   described under the section                
                                   headed `AO subscription                    
                                   Agreement dated 2nd February,              
                                   2005' above                                
    `AO Subscription Shares'       820,000,000 new Shares to be               
                                   subscribed for by AO or its                
                                   nominee pursuant to the AO                 
                                   Subscription Agreement                     
    `Board'                        board of directors of the                  
                                   Company                                    
    `Business Day'                 any day (other than Saturday)              
                                   on which banks in Hong Kong                
                                   are open for business                      
    `Closing Date'                 the date when completion of                
                                   the Placing occurs, being a                
                                   day falling on or before 14th              
                                   February, 2005 (or such later              
                                   date as the Vendors and the                
                                   Placing Agent may agree in                 
                                   writing)                                   
    `Company'                      Asia Standard International                
                                   Group Limited, an exempted                 
                                   company incorporated in                    
                                   Bermuda with limited                       
                                   liability, the securities of               
                                   which are listed on the Stock              
                                   Exchange                                   
    `Directors'                    directors of the Company                   
    `Grosvenor'                    Grosvenor Asset Management                 
                                   Limited                                    
    `Grosvenor Subscription'       the subscription by Grosvenor              
                                   of the Grosvenor Subscription              
                                   Shares pursuant to the                     
                                   Grosvenor Subscription                     
                                   Agreement                                  
    `Grosvenor Subscription        the Subscription Agreement                 
    Agreement'                     described under the section                
                                   headed `Grosvenor                          
                                   Subscription Agreement dated               
                                   2nd February, 2005' above                  
    `Grosvenor Subscription        145,000,000 new Shares to be               
    Shares'                        subscribed by Grosvenor                    
                                   pursuant to the Grosvenor                  
                                   Subscription Agreement                     
    `Group'                        the Company and its                        
                                   subsidiaries                               
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   People's Republic of China                 
    `Independent Third Parties'    parties who are independent                
                                   of and are not acting in                   
                                   concert with any of the                    
                                   Directors, chief executive or              
                                   substantial shareholders of                
                                   the Company and its                        
                                   subsidiaries, or any of their              
                                   respective associates (as                  
                                   defined in the Listing Rules)              
    `Independent Shareholders'     all shareholders of the                    
                                   Company other than Grosvenor               
                                   and its associates (as                     
                                   defined in the Listing Rules)              
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on the