09:36     STONE HOLDINGS<00409> - Announcement (5)                            

    under the Listing Rules                                                   
                                                                              
    "Board" the board of directors of the Company                             
                                                                              
    "Company"       Stone Group Holdings Limited, a company                   
    incorporated in Hong Kong with limited liability and                      
    the shares of which are listed on main board of the                       
    Stock Exchange                                                            
                                                                              
    "Directors"     the directors of the Company                              
                                                                              
    "Future Disposals"      any on-market disposals of SINA                   
    Shares by the Group in the future                                         
                                                                              
    "Group" the Company and its subsidiaries                                  
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong Kong               
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative                      
    Region of the PRC                                                         
                                                                              
    "Listing Rules" Rules Governing the Listing of                            
    Securities on the Stock Exchange                                          
                                                                              
    "NASDAQ"        Nasdaq National Market                                    
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "Shareholders"  the shareholders of the Company                           
                                                                              
    "SINA"  SINA Corporation, a company incorporated in                       
    the Cayman Islands and the shares of which are listed                     
    on NASDAQ in the USA                                                      
                                                                              
    "SINA Shares"   ordinary shares with nominal value of                     
    US$0.1333 (equivalent to approximately HK$1.04) each                      
    of SINA                                                                   
                                                                              
    "SSMG"  Sun Stone Media Group Limited, a company                          
    incorporated in the British Virgin Islands and a 51%                      
    indirectly owned subsidiary of the Company                                
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong Limited           
                                                                              
    "USA"   the United States of America                                      
                                                                              
    "US$"   United States dollars, the lawful currency of                     
    the USA                                                                   
                                                                              
    "VAS"   value-added information service                                   
                                                                              
    Conversion of US$ into HK$ is based on the exchange                       
    rate of US$1.00 = HK$7.80.                                                
                                                                              
                                                                              
                                                                              
    By order of the Board                                                     
    Stone Group Holdings Limited                                              
    DUAN Yongji                                                               
    Chairman                                                                  
                                                                              
    Hong Kong, 22 February 2005