10:03     NEW WORLD CYBER<00276> - Announcement (2)                           

    Record Date, there were more than 1,000 Shareholders with registered      
    addresses which were outside Hong Kong in the following countries:        
    Australia, Bahrain, Belgium, Bermuda, British Virgin Islands, Canada,     
    the PRC, Cyprus, Egypt, France, Germany, Greece, Ireland, Israel, Italy,  
    Japan, Jordan, Kenya, Liberia, Macau, Malaysia, Malta, New Zealand,       
    Norway, Oman, Saudi Arabia, Singapore, South Africa, Spain, Switzerland,  
    Swaziland, Thailand, United Arab Emirates, the United Kingdom, the        
    United States of America and Zambia. As such, the Directors have, in      
    compliance with Rule 13.36(2)(a) of the Listing Rules, sought legal       
    advice regarding the legal restrictions under the laws of the relevant    
    place and the requirements of the relevant regulatory body or stock       
    exchange. Based on the legal advice provided by the overseas legal        
    counsels in these countries, the Directors were of the view that it is    
    necessary or expedient not to offer the Rights Shares to the              
    Shareholders whose registered addresses are in Australia, Bermuda,        
    Canada, the PRC, Cyprus, Ireland, Malaysia, Malta, Oman, Saudi Arabia,    
    Singapore, South Africa, Spain, the United Kingdom and the United States  
    of America due to substantial procedures and costs involved in the        
    registration of the Rights Issue Documents and/or compliance with the     
    legal or regulatory requirements or special formalities in those places.  
    Accordingly, the Shareholders whose registered addresses are in           
    Australia, Bermuda, Canada, the PRC, Cyprus, Ireland, Malaysia, Malta,    
    Oman, Saudi Arabia, Singapore, South Africa, Spain, the United Kingdom    
    and the United States of America are the Excluded Shareholders and the    
    Rights Issue is not available to them. The Company have sent the          
    Prospectus to the Excluded Shareholders for their information only. The   
    Company have not sent the provisional allotment letters and the forms of  
    application for excess Rights Shares to the Excluded Shareholders.        
                                                                              
    For those Qualifying Shareholders with the registered addresses on the    
    Record Date in the above mentioned places other than Australia, Bermuda,  
    Canada, the PRC, Cyprus, Ireland, Malaysia, Malta, Oman, Saudi Arabia,    
    Singapore, South Africa, Spain, the United Kingdom and the United States  
    of America, the Directors had been advised by the relevant legal          
    counsels that it would be lawful for the Company to offer the Rights      
    Shares in those places or the Company could rely on exemptions from the   
    provisions of the relevant securities laws and regulations, even though   
    the Rights Issue Documents are not registered in the relevant             
    jurisdictions. Therefore, the provisional allotment of the Rights Shares  
    have been made and a copy of the Rights Issue Documents have been sent    
    to such Qualifying Shareholders.                                          
                                                                              
    It is the responsibility of any person (including but without limitation  
    to nominee, agent and trustee) receiving a copy of the Rights Issue       
    Documents outside Hong Kong and wishing to take up the Rights Shares      
    under the Rights Issue to satisfy himself as to the full observance of    
    the laws of the relevant territory including the obtaining of any         
    governmental or other consents for observing any other formalities which  
    may be required in such territory or jurisdiction, and to pay any taxes,  
    duties and other amounts required to be paid in such territory or         
    jurisdiction in connection therewith. Any acceptance by any person will   
    be deemed to constitute a representation and warranty from such person    
    to the Company that these local laws and requirements have been complied  
    with. If any person in any doubt as to his/her/its position, he/she/it    
    should consult his/her/its professional advisers.                         
                                                                              
    By Order of the Board                                                     
    New World CyberBase Limited                                               
    Lo Lin Shing, Simon                                                       
    Chairman                                                                  
                                                                              
    Hong Kong, 7 February 2005                                                
                                                                              
    As at the date hereof, the Board comprises six Directors, of which Mr.    
    Lo Lin Shing, Simon and Ms. Yvette Ong are executive Directors, Mr. To    
    Hin Tsun, Gerald is a non-executive Director and Mr. Peter Pun, Mr. Wei   
    Chi Kuan, Kenny and Mr. Lau Wai Piu are independent non-executive         
    Directors.