09:31     LIFESTYLE INT'L<01212> - Announcement & Resumption (5)              

    respective associates holds any shares in the Company.                    
                                                                              
    Access Capital Limited has been appointed as the                          
    independent financial adviser to advise the independent                   
    board committee of the Company and the Independent                        
    Shareholders regarding the terms and the Cap of the Lease                 
    and confirm the term of the Lease is normal business                      
    practice for lease of this type to be of 15 years.  An                    
    independent board committee of the Company will also be                   
    appointed to advise the Independent Shareholders on whether               
    or not the terms of the Lease and the Cap are in the interest             
    of the Company and are fair and reasonable so far as the                  
    Independent Shareholders are concerned.                                   
                                                                              
    A circular containing further information on the Lease, a                 
    letter from the independent board committee of the Company,               
    an opinion of the independent financial adviser to the                    
    independent board committee of the Company and the                        
    Independent Shareholders, together with a notice to convene               
    the EGM to approve the Lease and the Cap, will be issued                  
    to the Shareholders as soon as practicable.                               
                                                                              
    Trading in the shares of the Company on the Stock Exchange                
    was suspended at the request of the Company pending the                   
    release of this announcement at 9:30 a.m. on 24 February                  
    2005.  Application has been made for resumption of trading                
    at 9:30 a.m. on 25 February 2005.                                         
                                                                              
    As at the date of this announcement, the board of directors               
    of the Company comprises two executive Directors, namely,                 
    Mr. Lau Luen Hung, Thomas and Dr. Tong Yuk Lun, Paul, four                
    non-executive Directors, namely, Dato{ Dr. Cheng Yu Tung,                 
    Mr. Cheng Kar Shun, Henry, Mr. Lau Luen Hung, Joseph and                  
    Ms. Lau Yuk Wai, Amy and four independent non-executive                   
    Directors, namely, Mr. Lam Siu Lun, Simon, Mr. Cheung Yuet                
    Man, Raymond, Mr. Chung Kwok Cheong and Mr. Shek Lai Him,                 
    Abraham.                                                                  
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, unless the context otherwise requires,              
    the following terms have the meanings set opposite to them                
    below:                                                                    
                                                                              
    "Air-conditioning Charges and Management Fees" air                        
    conditioning charges, maintenance costs and management                    
    fees payable by Sogo HK to HK Island under the Lease;                     
                                                                              
    "associates" the meaning ascribed to it in the Listing                    
    Rules;                                                                    
                                                                              
    "Board" or "Directors" the board of directors of the                      
    Company;                                                                  
                                                                              
    "Cap" for the purpose of Chapter 14A of the Listing Rules,                
    means for each of the three years ending 31 December 2007,                
    HK$75 million in respect of the aggregate of the annual                   
    rental, Air-conditioning and Management Fees, extra                       
    air-conditioning charges, vetting fee for the fitting out                 
    works and sharing of fees received for displaying                         
    promotional materials on the glass walls and windows of the               
    entrance and the 24-hour passage payable under the Lease;                 
                                                                              
    "Company" Lifestyle International Holdings Limited, a                     
    company incorporated in the Cayman Islands whose shares are               
    listed on the Stock Exchange (stock code: 1212);                          
                                                                              
    "CTF" Chow Tai Fook Enterprises Limited (*), a company incorporated in    
    Hong Kong with limited                                                    
    liability;                                                                
                                                                              
    "EGM" the extraordinary general meeting of the Company to                 
    be convened for the purpose of considering and, if thought                
    fit, approving the Lease and the Cap;                                     
                                                                              
    "Group" the Company and its subsidiaries;                                 
                                                                              
    "Hong Kong" the Hong Kong Special Administrative Region of                
    the People's Republic of China;                                           
                                                                              
    "HK Island" Hong Kong Island Development Limited is a                     
    company incorporated in Hong Kong and wholly owned by NWD                 
    Group;