08:51     INT'L ENT<08118> - Announcement (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.                                                     
                                                                              
    INTERNATIONAL ENTERTAINMENT CORPORATION                                   
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 8118)                                                        
                                                                              
    CONTINUING CONNECTED TRANSACTIONS                                         
                                                                              
    On 24 February 2005, Future Growth Limited, a                             
    wholly-owned subsidiary of the Company, has entered                       
    into a tenancy agreement with New World Tower Company                     
    Limited, a connected person (as defined in the GEM                        
    Listing Rules), for the lease of certain premises in                      
    New World Tower in Hong Kong. The maximum aggregate                       
    annual value of the transactions (including the rent,                     
    air-conditioning charges and management charges)                          
    under the tenancy agreement is approximately                              
    HK$481,092.                                                               
                                                                              
    As at the date of this announcement, Mediastar                            
    International Limited is the substantial shareholder                      
    of the Company holding approximately 50.88% of the                        
    issued share capital of the Company. Mediastar                            
    International Limited is wholly-owned by Chow Tai                         
    Fook Enterprises Limited.                                                 
                                                                              
    New World Tower Company Limited is a wholly-owned                         
    subsidiary of New World Development Company Limited,                      
    the shares of which are listed on the main board of                       
    The Stock Exchange of Hong Kong Limited, and Chow Tai                     
    Fook Enterprises Limited and its subsidiaries have                        
    an aggregate of approximately 35.33% of interests in                      
    the share capital of New World Development Company                        
    Limited as at the date of this announcement. Therefore,                   
    New World Tower Company Limited is an associate (has                      
    the same meaning ascribed thereto under the GEM                           
    Listing Rules) of Chow Tai Fook Enterprises Limited.                      
    Accordingly, New World Tower Company Limited is a                         
    connected person of the Company under the GEM Listing                     
    Rules and the entering into of the Tenancy Agreement                      
    constitutes continuing connected transactions of the                      
    Company under chapter 20 of the GEM Listing Rules.                        
                                                                              
    As announced by the Company on 10 August 2004, Future                     
    Growth Limited entered into a tenancy agreement with                      
    New World Tower Company Limited for the lease of                          
    premises in New World Tower in Hong Kong. The maximum                     
    aggregate annual rental (including the                                    
    air-conditioning charges and management charges)                          
    under the tenancy agreement is approximately                              
    HK$522,288.                                                               
                                                                              
    Therefore, the total maximum aggregate annual value                       
    of the transactions pursuant to the Tenancy Agreement                     
    and the tenancy agreement entered into by Future                          
    Growth Limited on 10 August 2004 is approximately                         
    HK$1,003,380.                                                             
                                                                              
    As the Total Cap is less than 25 per cent of the                          
    applicable percentage ratios of the Company as                            
    specified in rule 19.07 of the GEM Listing Rules and                      
    is less than HK$10 million, under rule 20.34 of the                       
    GEM Listing Rules, the transactions are therefore                         
    subject to the reporting and announcement                                 
    requirements set out in rules 20.45 to 20.47 of the                       
    GEM Listing Rules and is exempt from the independent                      
    shareholders' approval requirements. The Company