09:20     JINHUI HOLDINGS<00137>-Announcement&Resumption of Trading(3)        

    "Directors"        the directors of the Company;                          
                                                                              
    "First Acquisition"        the acquisition of the First Vessel under the  
    First Memorandum;                                                         
                                                                              
    "First Memorandum"        the memorandum of agreement dated 22 February   
    2005 between Jinzhou Marine and the First Vendor in respect of the        
    acquisition of the First Vessel;                                          
                                                                              
    "First Vendor"        Progreso Dos Navigation Ltd., a ship owning         
    company incorporated in Malta;                                            
                                                                              
    "First Vessel"        a deadweight 50,212 metric tons bulk carrier named  
    "Progreso Dos" built in 2001 by Mitsui Engineering & Shipbuilding Co.     
    Ltd., Chiba, Japan;                                                       
                                                                              
    "Group"        the Company and its subsidiaries;                          
                                                                              
    "HK$"        Hong Kong dollars, the lawful currency of Hong Kong;         
                                                                              
    "Hong Kong"        Hong Kong Special Administrative Region of the         
    People's Republic of China;                                               
                                                                              
    "Jinhui Shipping"        Jinhui Shipping and Transportation Limited, a    
    company incorporated in Bermuda and an approximately 59.61 per cent.      
    owned subsidiary of the Company whose shares are listed on the Oslo       
    Stock Exchange, Norway;                                                   
                                                                              
    "Jinkang Marine"        Jinkang Marine Inc., a wholly owned subsidiary    
    of Jinhui Shipping;                                                       
                                                                              
    "Jinzhou Marine"        Jinzhou Marine Inc., a wholly owned subsidiary    
    of Jinhui Shipping;                                                       
                                                                              
    "Listing Rules"        the Rules Governing the Listing of Securities on   
    the Stock Exchange;                                                       
                                                                              
    "Memoranda"        the First Memorandum and the Second Memorandum,        
    collectively;                                                             
                                                                              
    "Second         the acquisition of the Second Vessel under the Second     
    Memorandum;                                                               
      Acquisition"                                                            
                                                                              
    "Second         the memorandum of agreement dated 22 February 2005        
    between Jinkang                                                           
      Memorandum"        Marine and the Second Vendor in respect of the       
    acquisition of the Second Vessel;                                         
                                                                              
    "Second Vendor"        Futuro Dos Navigation Ltd., a ship owning company  
    incorporated in Malta;                                                    
                                                                              
    "Second Vessel"        a deadweight 50,212 metric tons bulk carrier       
    named "Futuro Dos" built in 2001 by Mitsui Engineering & Shipbuilding     
    Co. Ltd., Okayama, Japan;                                                 
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong Limited;          
                                                                              
    "US$"        United States dollars, the lawful currency of the United     
    States of America, and for the purpose of illustration only, translated   
    into HK$ at the rate of US$1.00 = HK$7.80;                                
                                                                              
    "Vendors"        the First Vendor and the Second Vendor, collectively;    
    and                                                                       
                                                                              
    "Vessels"        the First Vessel and the Second Vessel, collectively.    
                                                                              
    As at the date of this announcement:                                      
                                                                              
    (a)        the executive directors of the Company are Ng Siu Fai, Ng Kam  
    Wah Thomas, Ng Ki Hung Frankie and Ho Suk Lin;                            
                                                                              
    (b)        the non-executive director of the Company is Ho Kin Lung; and  
                                                                              
    (c)        the independent non-executive directors of the Company are     
    Cui Jian Hua, Tsui Che Yin Frank and Yau William.                         
                                                                              
    By Order of the Board                                                     
    Ng Siu Fai                                                                
    Chairman                                                                  
    Hong Kong, 23 February 2005