08:49     LEADERSHIP PGL<08010> - Announcement                                

                                                                              
    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.                                                             
                                                                              
    SMI Publishing Group Limited                                              
    (formerly known as Leadership Publishing Group Limited)                   
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 8010)                                                        
                                                                              
    DELAY IN DESPATCH OF CIRCULAR                                             
    CONNECTED TRANSACTION - PROPOSED ISSUE OF                                 
    HK$50 MILLION CONVERTIBLE NOTE                                            
                                                                              
    Reference is made to the announcement of the Company dated 3              
    February 2005 in connection with, among other matters, the                
    proposed issue of HK$50 million Convertible Note. The Company             
    has made an application to the Stock Exchange for a waiver from           
    strict compliance with the requirements under Rule 20.49 of the           
    GEM Listing Rules and an extension of time for the despatch of            
    the Circular from 24 February 2005 to a date not later than 10            
    March 2005.                                                               
                                                                              
    By the Order of the Board                                                 
    SMI Publishing Group Limited                                              
    XING Jing                                                                 
    Chairman and Executive Director                                           
                                                                              
    Hong Kong, 24 February 2005                                               
                                                                              
    As at the date hereof, the Board comprises nine Directors, of             
    which five are executive Directors, namely Mr. XING Jing, Mr.             
    CUI En Qing, Mr. LI Kai, Mr. HAO Bin and Mr. LIN Ning, one is             
    the non-executive Director, namely Mr. KWOK Yat Ming and three            
    are independent non-executive Directors, namely Mr. LAM Cheung            
    Shing Richard, Mr. SHI Bin Hai and Mr. YAN Chun.                          
                                                                              
    This announcement, for which the Directors collectively and               
    individually accept full responsibility, includes particulars             
    given in compliance with the GEM Listing Rules for the purpose            
    of giving information with regard to the Company. The Directors,          
    having made all reasonable enquiries, confirm that, to the best           
    of their knowledge and belief: (1) the information contained in           
    this announcement is accurate and complete in all material                
    respects and not misleading; (2) there are no other matters the           
    omission of which would make any statement in this announcement           
    misleading; and (3) all opinions expressed in this announcement           
    have been arrived at after due and careful consideration and              
    are founded on bases and assumptions that are fair and                    
    reasonable.                                                               
                                                                              
    The above announcement is a summary only. For the                         
    full version of this announcement, please refer to                        
    the "Latest Company Announcements" page on the GEM                        
    website of http://www.hkgem.com.