09:50     STELUX HOLDINGS<00084> - Announcement (2)                           

    2004 with Vision Pro Group and Thong Sia Companies                        
    respectively to record the terms of purchases of                          
    optical products from Vision Pro, Thong Sia                               
    (Singapore), Thong Sia (Malaysia) and other members                       
    of Vision Pro Group. The agreements were effective                        
    from 1 April 2004 to 31 March 2007. Under the                             
    agreements, the Group agreed to purchase optical                          
    products from Vision Pro Group and Thong Sia Companies                    
    respectively on terms no less favourable than those                       
    offered by the Vision Pro Group and Thong Sia                             
    Companies to other third parties. Payment terms vary                      
    according to product type and country where supplied,                     
    from cash upon delivery to 90 days upon receipt of                        
    invoice.                                                                  
                                                                              
    On 12 June 2004, the Company issued an announcement                       
    with respect to the purchase of optical products from                     
    Vision Pro Group and Thong Sia Companies, stating in                      
    such announcement that the Company proposed to set                        
    the maximum aggregate annual consideration for the                        
    Continuing Connected Transactions at HK$3.0 million,                      
    HK$3.7 million and HK$4.5 million for each of the                         
    three financial years ended 31 March 2007 (the "Caps")                    
    and that if such Caps were exceeded during the term                       
    of the Continuing Connected Transactions for the                          
    relevant financial year, the Company would re-comply                      
    with the announcement requirement under Rule 14A.35                       
    of the Listing Rules.                                                     
                                                                              
    Sales of optical products in the past few months have                     
    exceeded the Company's original expectation since the                     
    Continuing Connected Transactions were announced on                       
    12 June 2004 and the unaudited value of the Continuing                    
    Connected Transactions for the Group for the period                       
    from 1 April 2004 up to and including 31 December 2004                    
    was approximately HK$2,848,000.                                           
                                                                              
    Accordingly, the Company expects that the Caps for                        
    each of the three financial years ended 31 March 2007                     
    will likely be exceeded. As such, the Company                             
    considers it necessary to revise the Caps as set out                      
    in the paragraph headed "Information about the                            
    Continuing Connected Transactions" below.                                 
                                                                              
    The estate of Mr. Wong Chue Meng is interested in                         
    approximately 70% of the issued capital of the Company                    
    (through various holding companies including Yee Hing                     
    Company Limited) and holds more than 30% of the equity                    
    in each of the Thong Sia Companies. Mr. Wong Chue Meng                    
    was the former chairman of the Company and passed away                    
    in June 2003. Vision Pro is a 60% indirectly owned                        
    subsidiary of Yee Hing Company Limited, through a                         
    holding subsidiary called International Optical                           
    Manufacturing Company Limited and 40% owned                               
    subsidiary of Thong Sia Company Limited, which holds                      
    approximately 10% of the issued share capital of the                      
    Company. Yee Hing Company Limited is a substantial                        
    shareholder of the Company holding approximately 44%                      
    of its issued share capital.                                              
                                                                              
    Mr. Chumphol Kanjanapas (alias Joseph C.C. Wong), the                     
    vice chairman and chief executive officer of the                          
    Company, is a director of Vision Pro. Mr. Wong Chong                      
    Po, the present chairman of the Company, is a director                    
    of International Optical Manufacturing Company                            
    Limited. Therefore, Vision Pro and Thong Sia                              
    Companies are associates of connected persons of the                      
    Company and the Continuing Connected Transactions                         
    constitute connected transactions under the Listing                       
    Rules.                                                                    
                                                                              
    INFORMATION ABOUT THE CONTINUING CONNECTED