10:03     ROAD KING INFRA<01098> - Announcement (2)                           

    District of Changzhou City where the district government is actively      
    developing.                                                               
                                                                              
    GENERAL                                                                   
                                                                              
    As the percentage ratio of consideration as defined in Chapter 14 of      
    the Listing Rules in relation to the Acquisition contemplated under       
    the Confirmation is more than 5% but less than 25%, it constitutes a      
    discloseable transaction of the Company under Rule 14.06(2) of the        
    Listing Rules. A circular in connection with the Acquisition will be      
    despatched to the Shareholders in due course.                             
                                                                              
    As at the date of this announcement, the Board comprises Messrs. Zen      
    Wei Pao, William, Ko Yuk Bing, Chan Kam Hung, Zen Wei Peu, Derek and      
    Fong Shiu Leung, Keter as executive directors, Messrs. Hu Aimin and       
    Zhang Yijun as non-executive directors and Messrs. Chan Hing Chiu,        
    Vincent, Chow Shiu Kee, Stephen and Lau Sai Yung as independent           
    non-executive directors of the Company.                                   
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, unless the context requires otherwise, the          
    following terms have the same meanings as set out below:                  
                                                                              
    `Acquisition'                  the acquisition of the land                
                                   use rights on the Lands;                   
    `Authority'                    the Land and Resources                     
                                   Authority of Wujin District                
                                   of Changzhou City;                         
    `Board'                        the board of Directors;                    
    `Company'                      Road King Infrastructure                   
                                   Limited;                                   
    `Confirmation'                 the hg (confirmation of                    
                                   transaction pursuant to                    
                                   auction) dated 6 February                  
                                   2005 from the Authority to                 
                                   the Company upon completion                
                                   of the auction of the Lands                
                                   which confirms the Company's               
                                   entitlement to acquire land                
                                   use rights on the Lands;                   
    `Director(s)'                  the director(s) of the                     
                                   Company;                                   
    `Group'                        the Company and its                        
                                   subsidiaries (as defined in                
                                   the Listing Rules);                        
    `HK$'                          Hong Kong dollars, the lawful              
                                   currency of Hong Kong Special              
                                   Administrative Region of the               
                                   PRC;                                       
    `Independent Third Party'      parties not connected with                 
                                   the directors, chief                       
                                   executive or substantial                   
                                   shareholders of the Company                
                                   or any of its subsidiaries or              
                                   their respective associates                
                                   (as defined in the Listing                 
                                   Rules);                                    
    `Lands'                        two adjoining pieces of land               
                                   situated at the southeast                  
                                   corner of Chang Hong Road, Hu              
                                   Tang River, Wujin District,                
                                   Changzhou City, Jiangsu                    
                                   Province, the PRC;                         
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on the               
                                   Stock Exchange;                            
    `PRC'                          the People's Republic of                   
                                   China;                                     
    `RMB'                          Renminbi, the lawful currency              
                                   of the PRC;                                
    `Shareholders'                 shareholders of the Company;               
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong Limited;                              
                                   and                                        
    `Total Consideration'          being approximately RMB700                 
                                   million (approximately HK$660              
                                   million) payable by the Group              
                                   to the Authority for the                   
                                   purchase of the land use                   
                                   rights on the Lands.                       
                                                                              
                                                                              
                                                                              
    By Order of the Board                                                     
    William Zen Wei Pao                                                       
    Chairman                                                                  
    Hong Kong, 7 February 2005                                                
                                                                              
    For the purpose of this announcement, unless otherwise specified,         
    the conversion of RMB into HK$ is based on the exchange rate of           
    RMB1=HK$0.9434.