09:27     PIONEER GLOBAL<00224> -Announcement&Resumption of Trading(2)        

    or its subsidiaries or their respective associates                        
                                                                              
    Purchaser:  Supreme Success Limited, a wholly owned subsidiary of the     
    Company                                                                   
                                                                              
    Property:  Units 47 & 59 on 1st floor of the podium of blocks 1, 2 & 3,   
    City Garden, No. 233, Electric Road, Hong Kong                            
                                                                              
    Consideration:  HK$23,636,000 payable in cash                             
                                                                              
    Deposit:  HK$1,000,000 upon signing of provisional agreement and          
    HK$4,727,200 upon signing of formal agreement on or before 17 February    
    2005                                                                      
                                                                              
    Date of completion:  On or before 2 March 2005                            
                                                                              
    Conditions for completion:  (a)  Execution of formal agreements to        
    purchase       Property B and Property C                                  
                                                                              
      (b)  Good title is given for each of Property A, Property B and         
    Property C and                                                            
                                                                              
      (c)  Relevant bank consent on mortgage discharge of Property C          
                                                                              
    Property A has a total gross floor area of approximately 11,818 sq. ft.   
    and shall be delivered in vacant possession on the date of completion.    
    Property A was not rented during the last two financial years of the      
    Company immediately preceding the provisional agreement.                  
                                                                              
    PROPERTY B                                                                
                                                                              
    Date of the provisional agreement:  2 February 2005                       
                                                                              
    Vendor:  Reiphon Development Ltd, a company incorporated in Hong Kong     
    with limited liability and beneficially owned by Mr. Tang Kim Kwan, is    
    an independent third party not connected with any directors, chief        
    executives or substantial shareholders of the Company or its              
    subsidiaries or their respective associates                               
                                                                              
    Purchaser:  Supreme Success Limited, a wholly owned subsidiary of the     
    Company                                                                   
                                                                              
    Property:  Units 1 & 87 on 1st floor, units 1 & 2 on ground floor and     
    units 9 & 10 of the basement floor of the podium of blocks 1, 2 & 3,      
    City Garden, No. 233, Electric Road, Hong Kong                            
                                                                              
    Consideration:  HK$50,000,000 payable in cash                             
                                                                              
    Deposit:  HK$1,000,000 upon signing of provisional agreement and          
    HK$4,000,000 upon signing of formal agreement on or before 17 February    
    2005                                                                      
                                                                              
    Date of completion:  On or before 7 April 2005                            
                                                                              
    Conditions for completion:  Execution of formal agreements to purchase    
    Property A     and Property C                                             
                                                                              
    Property B has a total gross floor area of approximately 18,115 sq. ft.   
    On the date of completion, the units on 1st floor and ground floor        
    shall be delivered with existing tenancies and the units on the           
    basement floor shall be delivered in vacant possession. Property B        
    generated net rental revenue of HK$660,000 for the year ended 31 March    
    2003 and HK$915,000 for the year ended 31 March 2004 immediately          
    preceding the provisional agreement.                                      
                                                                              
    PROPERTY C                                                                
                                                                              
    Date of the provisional agreement:  3 February 2005                       
                                                                              
    Vendor:  Vicent Ltd, a company incorporated in Hong Kong with limited     
    liability and beneficially owned by Mr. Kwong King Wah and Mr. Leung      
    Cheuk Lam, is an independent third party not connected with any           
    directors, chief executives or substantial shareholders of the Company    
    or its subsidiaries or their respective associates                        
                                                                              
    Purchaser:  Supreme Success Limited, a wholly owned subsidiary of the     
    Company                                                                   
                                                                              
    Property:  Units 1-8, 11-34B, 36A-36B & 38-45 of the basement floor of    
    the podium of blocks 1, 2 & 3, City Garden, No. 233, Electric Road,       
    Hong Kong                                                                 
                                                                              
    Consideration:  HK$33,000,000 payable in cash