09:40     CN ENT INV FUND<02324>-Announcement&Resumption of Trading(4)        

    HK$4.8 million by way of a placing of new Shares,                         
    details of which were contained in the Company's                          
    announcement dated 19 November, 2004. The net                             
    proceeds have been pooled together with the Company's                     
    cash available for investments in accordance with the                     
    Company's investment objectives of investing in                           
    listed and unlisted companies mainly in Hong Kong and                     
    the PRC to earn returns in the form of capital                            
    appreciation, dividend income and interest income.                        
    Save for this, there have been no other fund raising                      
    activities by the Company in the past twelve months                       
    immediately preceding the date of this announcement.                      
                                                                              
    SUSPENSION AND RESUMPTION OF TRADING                                      
    At the request of the Company, trading in the Shares                      
    has been suspended with effect from 9:30 a.m. on 18                       
    February, 2005 pending the release of this                                
    announcement. Application has been made by the                            
    Company to the Stock Exchange for the resumption of                       
    trading in the Shares with effect from 9:30 a.m. on                       
    21 February, 2005.                                                        
                                                                              
    GENERAL                                                                   
    As at the date of this announcement, the executive                        
    Directors are Messrs. Pong Po Lam, Yau Chung Hong and                     
    Chui Tak Keung, Duncan, the non-executive Directors                       
    are Messrs. Ma Kwok Keung, Kenneth, Wang Zeng Jie and                     
    Chow Ka Wo, Alex, and the independent non-executive                       
    Directors are Messrs. Lam Kwan, Chan Ming Sun,                            
    Jonathan and Shiu Siu Tao.                                                
                                                                              
    DEFINITIONS                                                               
    The terms used in this announcement have the following                    
    meanings unless the context otherwise requires:                           
                                                                              
    "associates"    has the meaning ascribed thereto in the                   
    Listing Rules                                                             
                                                                              
    "Business Day"  a day on which banks in Hong Kong are                     
    open for business (other than Saturday)                                   
                                                                              
    "Company"       China Northern Enterprises Investment                     
    Fund Limited, a company incorporated in the Cayman                        
    Islands with limited liability and whose issued                           
    Shares are listed on the Stock Exchange                                   
                                                                              
    "connected person(s)"   has the meaning ascribed                          
    thereto in the Listing Rules                                              
                                                                              
    "Director(s)"   director(s) of the Company                                
                                                                              
    "Listing Rules" the Rules Governing the Listing of                        
    Securities on the Stock Exchange                                          
                                                                              
    "Placees"       any individual(s), institutional or                       
    other professional investor(s) or any of their                            
    respective subsidiaries or associates procured by the                     
    Placing Agent to subscribe for any of the Placing                         
    Shares pursuant to the Placing Agreement                                  
                                                                              
    "Placing"       the placing of a maximum of 10,600,000                    
    Shares pursuant to the terms of the Placing Agreement                     
                                                                              
    "Placing Agent" BCOM Securities Company Limited, a                        
    licensed corporation permitted to carry on type 1                         
    (dealing in securities), type 4 (advising on                              
    securities), type 6 (advising on corporate finance)                       
    and type 9 (asset management) regulated activities                        
    under the SFO                                                             
                                                                              
    "Placing Agreement"     the conditional placing                           
    agreement dated 18 February, 2005 entered into