10:36     SIMSEN INT'L<00993> - Announcement (11)                             

    "Sale Shareholder Loan" interest-free shareholder loan in the             
    principal amount of CAD2,066,614 (HK$12,999,000) advanced by              
    or on behalf of the Vendor to Alexis Resources prior to the date          
    of the Disposal Agreement                                                 
                                                                              
    "Sale Shares"   the total of 4,944 issued shares of par value             
    US$1 each in the capital of Alexis Resources legally and                  
    beneficially owned by the Vendor, representing 49.44% of the              
    issued share capital of Alexis Resources                                  
                                                                              
    "SGM"   the special general meeting of the Company to be convened         
    and held to consider and if thought appropriate, to approve,              
    among other matters (if any), the Disposal and all transactions           
    contemplated by the Disposal Agreement                                    
                                                                              
    "Share(s)"      ordinary share(s) of HK$0.01 each in the share            
    capital of the Company                                                    
                                                                              
    "Shareholder(s)"        holder(s) of the Shares                           
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong Limited           
                                                                              
    "Vendor"        Simsen (China) Investment Limited, a company              
    incorporated in the British Virgin Islands with limited                   
    liability and a wholly-owned subsidiary of the Company                    
                                                                              
    "Yakesi"        * (Xinjiang Yakesi Resources Co.                          
    Ltd.), a Sino-foreign equity joint venture enterprise which is            
    owned as to 97% by Alexis Resources and the remaining 3% by an            
    Independent Third Party                                                   
                                                                              
    In this announcement, for the purpose of illustration only,               
    amounts quoted in CAD have been converted into HK$ at the rate            
    of HK$6.29 to CAD1.00.                                                    
                                                                              
    By Order of the Board of                                                  
    Simsen International Corporation Limited                                  
    Haywood Cheung                                                            
    Chairman & Managing Director                                              
                                                                              
    Hong Kong, 15 February 2005                                               
                                                                              
    Executive Directors:    Independent Non-Executive Directors:              
    Mr. Haywood Cheung (Chairman & Managing Director)       Mr. Chan Ka       
    Ling, Edmond                                                              
    Mr. Felipe Tan (Deputy Managing Director)       Mr. Wong Yu Choi          
    Mr. So Pak Kwai Mr. Hong Po Kui, Martin                                   
    Dr. Chang Si-Chung                                                        
                                                                              
    *  For the Chinese name, please refer to the press announcement today.