09:13     A-MAX<00959> - 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.                   
                                                                              
    A-MAX HOLDINGS LIMITED                                                    
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 959)                                                         
                                                                              
    EXERCISE OF CONVERTIBLE NOTES                                             
                                                                              
    The Board is pleased to announce that each of Ms He, Ms Su and Mr Yiu     
    has issued a notice to the Company dated 18 February 2005 to exercise     
    the right to convert the CN in the principal amount of HK$200,000 into    
    Shares representing 5% of the then existing issued share capital of the   
    Company.                                                                  
                                                                              
    Terms defined in the Company's announcement dated 7 February 2005 shall   
    have the same meanings when used herein.                                  
                                                                              
    The board (the "Board") of directors of A-Max Holdings Limited (the       
    "Company") is pleased to announce that each of Ms He Chu Xing ("Ms        
    He"), Ms Su Weifen ("Ms Su") and Mr Yiu Fuk Kei ("Mr Yiu") has issued a   
    notice to the Company dated 18 February 2005 to exercise the right to     
    convert the CN in the principal amount of HK$200,000 into shares of       
    HK$0.001 each in the capital of the Company ("Shares") representing 5%    
    of the then existing issued share capital of the Company.                 
                                                                              
    After the conversion, Ms He, Ms Su and Mr Yiu will hold 53,483,597        
    Shares, 56,157,777 Shares and 58,965,666 Shares respectively,             
    representing approximately 4.32%, 4.54% and 4.76% of the issued share     
    capital of the Company (as enlarged thereby) respectively. Each of Ms     
    He, Ms Su and Mr Yiu is not a connected person (as defined in the Rules   
    Governing the Listing of Securities on The Stock Exchange of Hong Kong    
    Limited) of the Company and is independent of each other.                 
                                                                              
    Changes in the issued shares of the Company since 17 February 2005:  No   
    of issued Shares                                                          
                                                                              
    The issued share capital of the Company as at 17 February 2005, being     
    the date on   which the Company's last announcement was published         
    1,069,671,948                                                             
                                                                              
    Events leading to issue of Shares:                                        
                                                                              
    - Conversion of CN in the principal amount of HK$200,000 by Ms He at an   
    effective     theoretical conversion price of HK$0.0037 (Note)            
    53,483,597                                                                
                                                                              
    - Conversion of CN in the principal amount of HK$200,000 by Ms Su at an   
    effective     theoretical conversion price of HK$0.0036 (Note)            
    56,157,777                                                                
                                                                              
    - Conversion of CN in the principal amount of HK$200,000 by Mr Yiu at     
    an effective     theoretical conversion price of HK$0.0034 (Note)         
    58,965,666                                                                
                                                                              
                                                                              
    Total number of issued shares after the events set out above              
    1,238,278,988                                                             
                                                                              
                                                                              
    Note: The effective theoretical conversion prices may not reflect the     
    holders' actual investment costs.                                         
                                                                              
    Save as disclosed above, no other events, which would lead to the issue   
    of Shares or other securities of the Company since 17 February 2005,      
    have occurred.                                                            
                                                                              
    The shareholding of the Company immediately prior to, and after, the      
    conversion of the CNs in the total principal amount of HK$600,000 is      
    set out below:                                                            
                                                                              
    Immediately prior to the   Immediately after the                          
    conversion of the CNs in the    conversion of the CNs in the              
    total principal amount   total principal amount                           
    Shareholders  of HK$600,000  of HK$600,000                                
    Number of   Number of                                                     
    Shares  approximate %  Shares  approximate %                              
    Greek Mythology (Macau)                                                   
      Entertainment Group Corporation                                         
      Limited ("Greek Mythology")  319,393,047  29.86  319,393,047  25.79