09:47     CITIC 21CN<00241> - Announcement & Resumption of Trading (9)        

    nil-paid and fully-paid forms, and the Shares to be                       
    issued upon exercise of the subscription rights                           
    attaching to the Warrants prior to the Prospectus                         
    Posting Date;                                                             
                                                                              
    2.      the delivery to the Stock Exchange and registration               
    with the Registrar of Companies in Hong Kong                              
    respectively one copy of each of the Prospectus                           
    Documents duly signed by two Directors (or by their                       
    agents duly authorised in writing) as having been                         
    approved by resolution of the Directors (and all other                    
    documents required to be attaching thereto) not later                     
    than the Prospectus Posting Date and otherwise in                         
    compliance with the Listing Rules and the Companies                       
    Ordinance (Chapter 32 of the Laws of Hong Kong) and                       
    the filing with the Registrar of Companies in Bermuda                     
    the Prospectus Documents in accordance with the                           
    applicable laws of Bermuda;                                               
                                                                              
    3.      the posting of the Prospectus Documents to                        
    Qualifying Shareholders (other than the Excluded                          
    Shareholders) on the Prospectus Posting Date;                             
                                                                              
    4.      the obtaining of the permission of the Bermuda                    
    Monetary Authority for the issue of the Warrants and                      
    the Shares falling to be issued upon the exercise of                      
    the subscription rights attaching to the Warrants,                        
    if necessary; and                                                         
                                                                              
    5.      the obligations of the Underwriter under the                      
    Underwriting Agreement becoming unconditional and                         
    the Underwriting Agreement not being terminated in                        
    accordance with the terms thereof.                                        
                                                                              
    In the event that all the conditions of the Rights                        
    Issue are not fulfilled on or before 16 March 2005                        
    (or such later date as the Company and the Underwriter                    
    may mutually agree), none of the Underwriter or the                       
    Company shall have any rights or be subject to any                        
    obligations arising from the Underwriting Agreement.                      
                                                                              
    EXPECTED TIMETABLE                                                        
    The expected timetable for the Rights Issue is set                        
    out below:                                                                
                                                                              
    2005                                                                      
                                                                              
    Last day of dealings in Shares on a cum-rights basis                      
            Friday, 18 February                                               
    First day of dealings in Shares on an ex-rights basis                     
            Monday, 21 February                                               
    Latest time for lodging transfers of Shares (or, where                    
    applicable,                                                               
      exercise of the rights attaching to the Options in                      
    order to qualify                                                          
      for the Rights Issue) 4:00 p.m. on Tuesday, 22                          
    February                                                                  
    Register of members closed (both dates inclusive)                         
            Wednesday, 23 February to                                         
    Friday, 25 February                                                       
    Record Date for the Rights Issue        Friday, 25                        
    February                                                                  
    Despatch of the Prospectus Documents    Friday, 25                        
    February                                                                  
    Register of members re-opens    Monday, 28 February                       
    First day of dealings in nil-paid Warrants                                
            Tuesday, 1 March                                                  
    Latest time for splitting nil-paid Warrants     4:00                      
    p.m. on Friday, 4 March                                                   
    Last day of dealings in nil-paid Warrants                                 
            Wednesday, 9 March                                                
    Latest time for payment for and acceptance of Warrants                    
            4:00 p.m. on Monday, 14 March