09:58     SIMSEN INT'L<00993>-Announcement & Resumption of Trading(9)         

    Director and is the Chairman and Managing Director of the Company.        
    Mr. Cheung has over 22 years' experience in metal trading,                
    securities and futures brokerage and forex dealing in Hong Kong.          
    Mr. Cheung has served as the President of the New Territories             
    General Chamber of Commerce, and an Executive Committee Member            
    of the Chinese Gold & Silver Exchange Society. He is also a               
    director of a number of subsidiaries of the Company and the               
    Offeror.                                                                  
                                                                              
    OFFEROR'S INTENTION IN RELATION TO THE COMPANY                            
                                                                              
    Reason for the Offers                                                     
                                                                              
    As referred to in the 2nd paragraph of the section headed                 
    "Information on the Offeror" above, Mr. Cheung and Mr. Cheung             
    Yan Lung, his father, joined the Company in July 1997 and was             
    an executive director and chairman of the Company respectively.           
    Mr. Cheung Yan Lung has been the Honorary Chairman of the Company         
    since 28 September 2004. Mr. Cheung became the Chairman and               
    Managing Director of the Company with effect from 28 September            
    2004. Mr. Cheung is making the Offers so as to increase his               
    holding and it is solely his personal investment decision in              
    view of the current market situation. Mr. Cheung will acquire             
    through the Offeror all the outstanding Shares and Options with           
    his available financial resources.                                        
                                                                              
    It is the intention of Mr. Cheung to increase his beneficial              
    interests in the Company to more than 50% of the issued Shares            
    and obtain a controlling status over the Company by making the            
    Offers, in light of his confidence in the business prospect of            
    the Group.                                                                
                                                                              
    Intention regarding the Company                                           
                                                                              
    It is the intention of the Offeror that the business activities           
    of the Group, if the Offers are completed, will remain unchanged.         
                                                                              
    Maintaining the listing of Shares                                         
                                                                              
    Assuming the Offers become unconditional, the Offeror will use            
    its best endeavours to maintain the listing of the Company on             
    the Stock Exchange. As Mr. Cheung has been with the Company since         
    July 1997 and has devoted his expertise and effort in the                 
    management of the Group, Mr. Cheung currently has no intention            
    to privatize the Company nor to withdraw the listing of the Shares        
    from the Main Board of the Stock Exchange. The Offeror and its            
    sole director have undertaken to the SFC and the Stock Exchange           
    that the Offeror will, and its sole director will procure the             
    Offeror to, use its best endeavours following the closing of              
    the Offers to ensure that not less than 25% of the Shares will            
    be held by the public by various means, including but not limited         
    to placement of existing Shares or issue of new Shares as soon            
    as possible in compliance with the Listing Rules.                         
                                                                              
    The Stock Exchange has stated that if, at the closing of the              
    Offers, less than 25% of the Shares are held by the public or             
    if the Stock Exchange believes that:                                      
                                                                              
    -       a false market exists or may exist in the trading of the Shares;  
    or                                                                        
                                                                              
    -       there are insufficient Shares in public hands to maintain         
    an orderly market,                                                        
                                                                              
    then it will consider exercising its discretion to suspend                
    trading in the Shares. In this connection, it should be noted             
    that upon completion of the Offers, there may be insufficient             
    public float for the Shares and therefore, trading in the Shares          
    may be suspended until a prescribed level of public float is              
    attained. The