09:14     INTERCHINA HOLD<00202> - Announcement (1)                           

    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.                                                             
                                                                              
                                                                              
    INTERCHINA HOLDINGS COMPANY LIMITED                                       
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 202)                                                         
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
                                                                              
    The Directors are pleased to announce that on 5 February 2005,            
    the Purchaser (a wholly-owned subsidiary of the Company) entered          
    into the Agreement to acquire the Land at an aggregate                    
    consideration of RMB235,000,000 (approximately HK$221,698,113).           
                                                                              
    The PRC Party is, to the best of the Directors' knowledge,                
    information and belief having made all reasonable enquiry, third          
    party independent of the Group and connected persons (as defined          
    under the Listing Rules) of the Group.                                    
                                                                              
    The entering into of the Agreement constitutes a discloseable             
    transaction of the Company under the Listing Rules. A circular            
    containing, among other matters, details of the Acquisition and           
    information of the Group will be despatched to the shareholders           
    of the Company within 21 days after the date of this announcement.        
                                                                              
    The Directors are pleased to announce that on 5 February 2005,            
    the Purchaser (a wholly-owned subsidiary of the Company) entered          
    into the Agreement to acquire the Land at an aggregate                    
    consideration of RMB235,000,000 (approximately HK$221,698,113).           
                                                                              
    PRINCIPaL TERMS OF THE AGREEMENT                                          
                                                                              
    Date    :       5 February 2005                                           
                                                                              
    Parties :       (1)     the PRC Party, which, to the best of the          
    Directors' knowledge, information and belief having made all              
    reasonable enquiry, is third party independent of the Group and           
    connected persons (as defined under the Listing Rules) of the             
    Group; and                                                                
                                                                              
                    (2)     the Purchaser, a wholly owned subsidiary of the Co
                                                                              
    Land    :       four plots of land with an aggregate area of              
    approximately 378.53 acres situated in the New Industrial Park            
    of the Xian Hi-tech Industrial Development Zone, Xian, the PRC            
                                                                              
    Consideration   :       RMB235,000,000 (approximately                     
    HK$221,698,113), which has been determined by the Purchaser with          
    reference to the market value of land of similar nature in the            
    same area and was accepted by the PRC Party by way of its                 
    acceptance of the Purchaser's tender. The consideration shall             
    be payable in cash as follows:                                            
                                                                              
                    (1)     as to RMB23,500,000 (approximately HK$22,169,811) 
    shall be payable by the Purchaser within two days immediately             
    after the date of the Agreement as deposit (such amount has               
    already been paid by the Group as at the date of this                     
    announcement);                                                            
                                                                              
                    (2)     as to RMB84,600,000 (approximately HK$79,811,321) 
    shall be payable by the Purchaser on or before 5 March 2005;              
    and