09:28     WEALTHMARK INTL<00039>-Announcement&Resumption of Trading(3)        

    No meaningful updated figures for December, 2004 can be disclosed given   
    the Group's financial year end has just ended and time is required to     
    prepare the year end figures as the books and records of the Group have   
    been seized by the ICAC.                                                  
                                                                              
    With a view to restoring the credibility of the Board and safeguarding    
    the interests of the shareholders of the Company, the Board has taken     
    urgent steps to restructure the management of the Group. In this regard,  
     the Board would like to announce that with immediate effect:             
                                                                              
    (a)   Mr. Wong and Ms. Rosita Andres have resigned as executive           
    directors of the Company on 21st February, 2005. Mr. Wong and Ms. Andres  
     shall be removed from all authorised signatories on all bank accounts    
    of the Group;                                                             
                                                                              
    (b)   Mr. Wong has resigned as an authorised representative of the        
    Company;                                                                  
                                                                              
    (c)   Mr. Yue Kwai Wa, Ken has been appointed as an independent non       
    executive director of the Company on 25th January, 2005;                  
                                                                              
    (d)   Mr. Wong Chor Sang and Mr. Danny Kwok Kee Ho have been appointed    
    as authorised representatives of the Company;                             
                                                                              
    (e)   Mr. Chan Wai Kin, Benito and Mr. Tse Chung Sing have been           
    appointed as executive directors of the Company on 25th January, 2005;    
                                                                              
    (f)   Mr. Peter Ko Chung Ting has been appointed as the Company           
    Secretary of the Company with effect from 21st February, 2005. Mr. Ko is  
     a member of the Hong Kong Institute of Certified Public Accountants;     
                                                                              
    (g)   save for in the ordinary course of business, the Group will not     
    enter into any contract or capital commitment in excess of HK$100,000     
    save with the approval of a majority of the independent non-executive     
    directors.                                                                
                                                                              
    Mr. Wong's resignation is not an admission to guilt in relation to the    
    charges laid against him but merely a gesture to distance the Company     
    from the Incident. Mr. Wong, the former chairman and former Director,     
    remains deemed interested in approximately 67.5% of the issued share      
    capital of the Company through Wisechoice, which is owned as to 100% by   
    Mr. Wong. Mr. Wong has undertaken to the Company that he will not have    
    any influence over the management of the Company following his            
    resignation as a director of the Company.                                 
                                                                              
    Following these changes, Mr. Wong Chor Sang, the brother of Mr. Wong,     
    and Mr. Danny Kwok Kee Ho shall thereafter oversee and manage the         
    business of the Group in Hong Kong and the PRC respectively. Neither had  
     been linked nor arrested in connection with the Incident. Mr. Wong has   
    given an undertaking to the Company that following his resignation as a   
    director of the Company, he will not influence the management of the      
    Group.                                                                    
                                                                              
    The Board announces that Mr. Wong Tin Sang, Patrick has resigned as an    
    independent non executive director of the Company with effect from 29th   
    November, 2004 for personal reasons. The Board is not aware of any other  
     matters relating to the resignation of Mr. Wong Tin Sang, Patrick that   
    need to be brought to the attention of the shareholders of the Company.   
    Mr. Wong Tin Sang, Patrick has confirmed that there are not any issues    
    that need to be brought to the attention of shareholders of the Company   
    in connection with his resignation.                                       
                                                                              
    The Board hereby announces that Mr. Chan Wai Kin, Benito and Mr. Tse      
    Chung Sing have accepted the Board's invitation to be executive           
    directors of the Company. Mr. Chan Wai Kin, Benito and Mr. Tse Chung      
    Sing shall receive an annual salary of HK$216,000 and HK$180,000          
    respectively.                                                             
                                                                              
    Mr. Tse Chung Sing, age 50, has been in the handbag business for over     
    eighteen years. He began his career as a marketing manager with           
    Effectual Products Manufacturing Limited. Thereafter he obtained          
    experience as a marketing manager with Worldview Handbag Manufacturing    
    Co., Ltd. and the Group. He has been a marketing manager of the Group     
    since 2002.                                                               
                                                                              
    Mr. Chan Wai Kin, Benito, age 37, obtained his Bachelor of International  
     Trading Degree from Chung Yuen Christian University. He has worked as a  
     manager in the China Division of the Company since 2001. He oversees     
    all of the Group's business in the PRC excluding the export division. He  
     has over 14 years experience in merchandising products in the leather    
    industry. He was introduced to the Group through a customer of the        
    Group.                                                                    
                                                                              
    Mr. Tse Chung Sing and Mr. Chan Wai Kin, Benito does not have any         
    interests in the Company within the meaning of Part XV of the Securities