09:13 NORTHERN INT'L<00736> - Announcement (2) DESPATCH OF THE CIRCULAR IN RELATION TO THE OPEN OFFER AND REVISED TIMETABLE A circular containing, among others, the details of the Open Offer, the recommendation of the Independent Board Committee, the advice of Altus Capital Limited in respect of the Open Offer and the notice of SGM is expected to be despatched to Shareholders on Friday, 4 March 2005. Due to the delay in despatch of the circular, the time and date of SGM will be postponed to 10:00 a.m. on Tuesday, 22 March 2005. However, the dates of closure of register of members remains from Friday, 4 March 2005 to Tuesday, 8 March 2005, (both dates inclusive) and the Record Date for the purpose of ascertaining the entitlements of Shareholders under the Open Offer remains on Tuesday, 8 March 2005. The expected timetable for the Open Offer has been revised and set out below. Last day of dealings in Shares on cum-entitlement basis Tuesday, 1 March 2005 First day of dealings in Shares on ex-entitlement basis Wednesday, 2 March 2005 Latest time for lodging transfers of Shares in order to be entitled to the Open Offer 4:00 p.m. on Thursday, 3 March 2005 Despatch of circular to the Shareholders relating to the Open Offer, containing, among things, a notice convening the SGM Friday, 4 March 2005 Register of members closes (both dates inclusive) Friday, 4 March 2005 to Tuesday, 8 March 2005 Record Date for the purpose of ascertaining the entitlement of the Open Offer Tuesday, 8 March 2005 Register of members reopens Wednesday, 9 March 2005 Latest time for lodging forms of proxy for the purpose of the SGM (not less than 48 hours before the SGM) 10:00 a.m. on Sunday, 20 March 2005 SGM to be held 10:00 a.m. on Tuesday, 22 March 2005 Despatch of the Prospectus Documents Wednesday, 23 March 2005 Latest time for lodging application for the Offer Shares and payment 4:00 p.m. on Friday, 8 April 2005 Latest time for the Open Offer to become unconditional 4:00 p.m. on Wednesday, 13 April 2005 Announcement of results of the Open Offer Friday, 15 April 2005 Despatch of certificates for the Offer Shares Friday, 15 April 2005 Dealings in Offer Shares commence Tuesday, 19 April 2005 Dates stated in this announcement for events mentioned in the timetable are indicative only and may be extended or varied. Any change to the expected timetable for the Open Offer will be announced as appropriate. To be entitled to the Open Offer, Shareholders must be registered as members of the Company on the register of members of the Company on the Record Date, being Tuesday, 8 March 2005 and not be Excluded Shareholders. Shareholders who are registered as members of the Company at the time the SGM be held (on 22 March 2005) will be entitled to vote in respect of the resolution relating to the Open Offer. Qualifying Holders who are entitled to the Open Offer but subsequently sell their Shares and whose names are not registered in the register of members of the Company at the time the SGM be held will not be entitled to vote in respect of the resolution relating to the Open Offer.