09:16     JACKLEY HOLDING<00353> - 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.                                                             
                                                                              
                                                                              
                                                                              
    ORIENT INDUSTRIES HOLDINGS LIMITED                                        
    *                                                                         
    (formerly known as Jackley Holdings Limited)                              
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 353)                                                         
                                                                              
    CLARIFICATION ANNOUNCEMENT                                                
                                                                              
    This announcement is made pursuant to the rule 13.09 of the Rules         
    Governing the Listing of Securities on The Stock Exchange of              
    Hong Kong Limited, reference is made to a newspaper article               
    appearing in the Sing Tao Daily on 1 March 2005 in relation to            
    an award (the "Award") of damages against Sino Development                
    Holdings Limited ("Sino Development"), a wholly owned subsidiary          
    of the Company under action number High Court Miscellaneous               
    Proceedings 292 of 2005.                                                  
                                                                              
    The Company would like to clarify that the award of damages was           
    made under action number High Court Miscellaneous Proceedings             
    292 of 2004, details of which were set out in the Company's               
    circulars dated 9 August 2004, 26 October 2004 and 6 December             
    2004. More specifically, the amount of the Award was HK$9,925,000         
    plus interest thereon at the judgment rate from 30 January 2004           
    until full payment.                                                       
                                                                              
    Sino Development is now seeking legal advice as to its legal              
    position and will consider, subject to the legal advice obtained,         
    appealing against the Order and/or to have the Award set aside            
    by the Court. Further announcement will be made by the Company            
    to update the shareholders and the investors as and when                  
    appropriate.                                                              
                                                                              
    By order of the Board                                                     
    Orient Industries Holdings Limited                                        
    Lam Shu Chung                                                             
    Director                                                                  
                                                                              
    Hong Kong, 1 March 2005                                                   
                                                                              
    As at the date of this announcement, the executive directors              
    of the Company are Mr. Lam Shu Chung and Mr. Law Fei Shing and            
    the independent non-executive directors are Mr. Liu Ngai Wing,            
    Mr. Lee Siu Leung and Mr. Ha Chun, Michael.