09:07     AIR HOLDINGS<08025> - Announcement                                  

                                                                              
    The Stock Exchange of Hong Kong Limited takes no responsibility           
    for the contents of this announcement, makes no representation as to      
    its accuracy or completeness and expressly disclaims any liability        
    whatsoever for any loss howsoever arising from or in reliance upon        
    the whole or any part of the contents of this announcement.               
                                                                              
    This announcement, for which the directors of Asian Information           
    Resources (Holdings) Limited collectively and individually accept         
    full responsibility, includes particulars given in compliance             
    with the Rules Governing the Listing of Securities on the                 
    Growth Enterprise Market of The Stock Exchange of Hong Kong Limited       
    for the purpose of giving information with regard to Asian                
    Information Resources (Holdings) Limited.  The directors, having made     
    all reasonable enquiries, confirm that, to the best of their              
    knowledge and belief: (1) the information contained in this               
    announcement is accurate and complete in all material respects            
    and not misleading; (2) there are no other matters the omission of        
    which would make any statement in this announcement misleading;           
    and (3) all opinions expressed in this announcement have been arrived     
    at after due and careful consideration and are founded on bases and       
    assumptions that are fair and reasonable.                                 
                                                                              
    As at the date of this announcement, the executive directors of the       
    Company are Mr. Xie Xuan and Mr. Ho Wing Yiu; the non-executive           
    directors are Mr. Law Shiu Kai Andrew and Mr. Lo Mun Lam Raymond          
    and the independent non-executive directors are Mr. Wu Jixue,             
    Mr. Yang Zhenhong and Mr. Zhang Daorong.                                  
                                                                              
    ASIAN INFORMATION RESOURCES (HOLDINGS) LIMITED                            
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 8025)                                                        
                                                                              
    RESUMPTION OF PERFORMANCE OF MAJOR TRANSACTION                            
    in respect of                                                             
    SALE OF PRC REAL ESTATE PROPERTY IN A PRC COMPANY                         
                                                                              
    The Board is pleased to announce that the Group has received a further    
    RMB9,375,000 (equivalent to approximately HK$8,844,000) further           
    payment of purchase price in relation to the Transaction.  The Group      
    has also entered into a Supplemental Agreement in relation to the         
    Transaction on 3 February 2005 which details the time schedule for        
    payment of the balance of the purchase price.  Under the Supplemental     
    Agreement, a further payment of RMB25,625,000 (equivalent to              
    approximately HK$24,175,000) is receivable immediately after the          
    signing of the Supplemental Agreement and a cheque has been received      
    by the Group for the same amount on 3 February 2005.  The remainder of the
    balance of the purchase price is receivable in two installments within    
    two years.  In consideration of resumption of completion the              
    Transaction, the Group has agreed to forgo all damages previously         
    imposed in compensation for delay under the Settlement Agreement          
    and the Postponement Agreement.                                           
                                                                              
    The Company will make further announcements in the event of further       
    developments in relation to Transaction or use of the proceeds received   
    in relation to the Transaction.                                           
                                                                              
    Shareholders and investors are advised to exercise caution when           
    dealing in the shares of the Company.                                     
                                                                              
    By Order of the Board                                                     
    Asian Information Resources (Holdings) Limited                            
    Ng Pong Yin Frank                                                         
    Company Secretary                                                         
                                                                              
    Hong Kong, 4 February 2005                                                
                                                                              
    The above announcement is a summary only. For the full version of this    
    announcement, please refer to the "Latest Company Announcements" page     
    on the GEM website at www.hkgem.com.