09:20     EVI EDUCATION<08090> - Announcement                                 

                                                                              
    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.                                                     
                                                                              
    EVI Education Asia Limited                                                
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 8090)                                                        
                                                                              
    DESPATCH OF THE CIRCULAR                                                  
    IN RELATION TO                                                            
    THE SUBSCRIPTION OF 4,300,000,000 NEW SHARES                              
    OF EVI EDUCATION ASIA LIMITED                                             
    BY MIDLAND REALTY (HOLDINGS) LIMITED                                      
    (INVOLVING APPLICATION FOR WHITEWASH WAIVER)                              
                                                                              
    *       The EVI Circular would be despatched to the EVI                   
    Shareholders on 16 February 2005.                                         
                                                                              
    *       The notice convening the Extraordinary General                    
    Meeting to be held on Monday, 7 March 2005 at 4:00                        
    p.m. is set out below.                                                    
                                                                              
    By order of the Board                                                     
    EVI Education Asia Limited                                                
    Pong Wai San, Wilson                                                      
    Chairman                                                                  
                                                                              
    Hong Kong, 15 February 2005                                               
                                                                              
    As at the date of this announcement, the EVI Board                        
    comprises seven directors, of which (i) four are                          
    executive EVI Directors, namely Mr. Pong Wai San,                         
    Wilson, Mr. Cheung Shi Kwan, Wings, Ms. Pong Lo Shuk                      
    Yin, Dorothy and Mr. Lau Wai Shu, and (ii) three are                      
    independent non-executive EVI Directors, namely Mr.                       
    Hung Tak Chow, Charles, Mr. Hung Fan Wai, Wilfred and                     
    Mr. Lai Hin Wing, Henry.                                                  
                                                                              
    This announcement for which the EVI Directors                             
    collectively and individually accept full                                 
    responsibility, includes particulars given in                             
    compliance with the GEM Listing Rules for the purpose                     
    of giving information with regard to EVI. The EVI                         
    Directors, having made all reasonable enquiries,                          
    confirm that, to the best of their knowledge and                          
    belief: (1) the information contained in this                             
    announcement is accurate and complete in all material                     
    aspects and not misleading; (2) there are no other                        
    matters the omission of which would make any statement                    
    in this announcement misleading; and (3) all of their                     
    opinions expressed in this announcement have been                         
    arrived at after due and careful consideration and                        
    are founded on bases and assumptions that are fair                        
    and reasonable.                                                           
                                                                              
    The EVI Directors jointly and severally accept full                       
    responsibility for the accuracy of the information                        
    contained in this announcement and confirm, having                        
    made all reasonable enquiries, that to the best of                        
    their knowledge, opinions expressed in this                               
    announcement have been arrived at after due and                           
    careful consideration and there are no other facts                        
    not contained in this announcement, the omission of                       
    which would make any statement in this announcement                       
    misleading.                                                               
                                                                              
    The above announcement is a summary only. For the full                    
    version of this announcement, please refer to the                         
    "Latest Company Announcements" page on the GEM                            
    website of www.hkgem.com.