09:58     SIMSEN INT'L<00993>-Announcement & Resumption of Trading(8)         

    Except with the consent of the Executive, all conditions must             
    be fulfilled within 21 days of the first closing date of the              
    Offers or of the date on which condition (5) above becomes                
    unconditional whichever is the later; otherwise, subject to full          
    compliance with the Takeovers Code, in particular, Note 2 of              
    Rule 30.1, the Offers must lapse. In that case, the Offeror will          
    issue a press announcement as soon as practicable thereafter.             
    Under the Takeovers Code, the latest date on which the Offeror            
    can declare the Offers unconditional as to acceptances is 60              
    days after the date of the posting of the Composite Offer Document        
    (or such later dates as the Executive may consent to).                    
                                                                              
    INFORMATION ON THE GROUP                                                  
                                                                              
    Business of the Group                                                     
                                                                              
    The Company was incorporated in Bermuda with limited liability            
    and its Shares have been listed on the Main Board of the Stock            
    Exchange since February 1994. The Group is principally engaged            
    in the business of bullion, futures and securities broking and            
    trading, the provision of margin and loan financing, shipment             
    sales of metals and metal scraps and holding of investment                
    properties.                                                               
                                                                              
    Key financial information of the Group                                    
                                                                              
    The audited consolidated turnover and profit /(loss) recorded             
    by the Company for the two years ended 30 April 2003 and 30 April         
    2004 and the unaudited consolidated turnover and profit of the            
    Company for the six months ended 31 October 2004 were as follows:         
                                                                              
                    Six months                                                
                    ended                                                     
            Year ended ended 30 April       31 October                        
            2004 (audited)          2003 (audited)          2004 (unaudited)  
            HK$'000         HK$'000         HK$'000                           
                                                                              
    Turnover        91,408          80,903          21,008                    
    Profit/(loss) before tax        3,870           (95,778 )       9,244     
    Tax     (3,549  )       (1,458  )       (2,255  )                         
    Profit/(loss) before minority interests 321             (97,236 )         
            6,989                                                             
    Minority interests      (506    )       (128    )       -                 
    Net profit/(loss) attributable to Shareholders  (185    )                 
            (97,364 )       6,989                                             
                                                                              
    The audited total assets and total liabilities of the Group as            
    at 30 April 2003 and 30 April 2004 and the unaudited total assets         
    and total liabilities as at 30 October 2004 were as follows:              
                                                                              
            As at 30 April  As at 31 October                                  
            2004 (audited)          2003 (audited)          2004 (unaudited)  
            HK$'000         HK$'000         HK$'000                           
                                                                              
    Total assets    307,447         389,498         318,266                   
    Total liabilities       240,516         321,505         244,421           
    Net assets      66,931          67,865          73,846                    
                                                                              
    INFORMATION ON THE OFFEROR                                                
                                                                              
    The Offeror is a company incorporated in the British Virgin               
    Islands on 15 October 1997 and its sole director is Mr. Cheung.           
    As at the date of this announcement, the Offeror and/or parties           
    acting in concert with it are directly and indirectly interested          
    in 165,370,000 Shares, representing approximately 27.22% of the           
    issued Shares.                                                            
                                                                              
    Mr. Cheung joined the Company in July 1997 as an executive