09:56     SIMSEN INT'L<00993>-Announcement & Resumption of Trading(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.                                                             
                                                                              
                                                                              
            Haywood Shares Holding Limited    Simsen International            
    Corporation Limited                                                       
            (incorporated in the British Virgin Islands with limited          
    liability)       *                                                        
                    (incorporated in Bermuda with limited liability)          
                    Stock code: 00993                                         
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    Voluntary conditional cash offers                                         
    by Grand Vinco Capital Limited and China Everbright Securities            
    (HK) Limited                                                              
    on behalf of                                                              
    Haywood Shares Holding Limited                                            
    to acquire all of the issued shares in the capital of,                    
    and for cancellation of all outstanding options of,                       
    Simsen International Corporation Limited                                  
    (other than those already owned by the Offeror and/or parties             
    acting in concert with it)                                                
    and                                                                       
    Resumption of trading                                                     
                                                                              
            Joint financial advisers to Haywood Shares Holding Limited        
            Financial adviser to Simsen International Corporation             
    Limited                                                                   
                                                                              
            Grand Vinco Capital Limited     Polaris Securities (Hong Kong)    
    Limited                                                                   
            China Everbright Securities (HK) Limited                          
                                                                              
    Independent financial adviser to the Independent Board Committee          
                                                                              
    Kim Eng Corporate Finance (Hong Kong) Limited                             
                                                                              
                                                                              
    THE OFFERS                                                                
                                                                              
    The Offeror and the Company jointly announce that the Offeror             
    will make, through the Joint Financial Advisers, voluntary                
    conditional cash offers to acquire all the issued Shares and              
    for cancellation of all outstanding Options (other than Shares            
    and Options already owned by the Offeror and parties acting in            
    concert with it). The Options which are accepted under the Option         
    Offer, together with those granted to the Offeror and parties             
    acting in concert with it, will be cancelled.                             
                                                                              
    The Share Offer Price shall be HK$0.088 in cash for each Share,           
    representing (i) a premium of approximately 6.02% over the                
    closing price of HK$0.083 per Share as quoted on the Stock                
    Exchange on 4 February 2005, being the last full trading day              
    (excluding 16 February 2005, by reason that trading in the Shares         
    on the Main Board of the Stock Exchange was suspended with effect         
    from 10:04 a.m. on 16 February 2005) on which Shares were traded          
    prior to the publication of this announcement; (ii) a premium             
    of approximately 9.18% over the average closing price of                  
    HK$0.0806 per Share for the last 5 trading days up to and                 
    including 4 February 2005; and (iii) a premium of approximately           
    10.69% over the average closing price of HK$0.0795 per Share              
    for the last 10 trading days up to and including 4 February 2005.         
    The Option Offer Price shall be HK$0.0001 in cash for each Option.        
                                                                              
    Pursuant to the Acquisition Agreement dated 26 March 2004