09:19     JOYCE BOUTIQUE<00647> - Announcement (3)                            

    of the People's Republic of China                                         
                                                                              
    "SGM"   the special general meeting of the Company to be held to          
    consider and, if appropriate, approve the Share Premium                   
    Reduction                                                                 
                                                                              
    "Share Premium Reduction"       the proposed reduction of the             
    entire share premium account of the Company as at 31 March 2004           
    as described in the section above headed "Share Premium                   
    Reduction"                                                                
                                                                              
    By Order of the Directors                                                 
    Wilson W. S. Chan                                                         
    Company Secretary                                                         
                                                                              
    Hong Kong, 7 February, 2005