09:24     KIN YAT HOLD<00638> - Announcement (3)                              

     Directors' knowledge, information and belief having made all reasonable  
     enquiry, the Purchaser and its ultimate beneficial shareholders are      
    independent of the Company and its connected persons (as defined in the   
    Listing Rules)                                                            
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong Kong               
                                                                              
    By order of the Board                                                     
    Cheng Chor Kit                                                            
    Chairman                                                                  
                                                                              
    Hong Kong, 24 February, 2005                                              
                                                                              
    As at the date of this announcement, the Board comprises five executive   
    Directors, being Mr. Cheng Chor Kit, Mr. Chui Pak Shing, Mr. Yuen Wai     
    Kwong, Mr. Fan Sau Leung and Mr. Wong Kin Chung, and three independent    
    non-executive Directors, being Mr. Chung Chi Ping, Roy, Mr. Wong Chi      
    Wai, Albert and Ms. Sun Kwai Yu, Vivian.