09:23     CHINA HAIDIAN<00256> - 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.                                                     
                                                                              
    CHINA HAIDIAN HOLDINGS LIMITED                                            
                                                                              
    (Formerly known as China Everbright Technology                            
    Limited)                                                                  
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 256)                                                         
                                                                              
    COMPLIANCE WITH THE LISTING RULES                                         
    AMENDMENTS TO THE AGREEMENTS                                              
    AND                                                                       
    DELAY IN DESPATCH OF THE CIRCULAR                                         
                                                                              
    Further to the announcements of the Company dated 2                       
    December 2004, 24 December 2004, 31 December 2004 and                     
    21 January 2005, the Company has provided information                     
    in relation to the Beijing Haidian Group to the Stock                     
    Exchange for seeking the relaxation of the                                
    requirements to include an accountants' report on the                     
    company being acquired in the Circular under Rule                         
    14.67 (4)(a)(i) of the Listing Rules. Based on the                        
    information provided to the Stock Exchange, the Stock                     
    Exchange has indicated to the Company that it would                       
    not relax such requirements.                                              
                                                                              
    In view of the above, the Purchasers discussed with                       
    the management and the existing shareholders of                           
    Beijing Haidian to explore the possibility to                             
    commence audit work of the Beijing Haidian Group for                      
    the three years ended 31 December 2004 in order to                        
    comply with Rule 14.67 (4)(a)(i) of the Listing Rules.                    
    Owing to the deal breaking nature of the issue, the                       
    management and the existing shareholders of Beijing                       
    Haidian agreed to cooperate with the Purchasers and                       
    grant them the permission to commence audit work of                       
    the Beijing Haidian Group in accordance with Rule                         
    14.67(4)(a)(i) of the Listing Rules. In this regard,                      
    the Company has appointed CCIF CPA Limited to conduct                     
    audit work of the Beijing Haidian Group for the three                     
    years ended 31 December 2004.                                             
                                                                              
    On 28 February 2005, the Purchasers entered into                          
    supplemental agreements to the Agreements to amend                        
    certain terms of the Agreements.                                          
                                                                              
    The Company announces that it has applied to the Stock                    
    Exchange for a waiver from strict compliance with                         
    Rules 14.38 and 14.40 of the Listing Rules so that                        
    the despatch of the Circular will be postponed to on                      
    or before 30 April 2005.                                                  
                                                                              
    Reference is made to the announcements of China                           
    Haidian Holdings Limited (Formerly known as China                         
    Everbright Technology Limited) (the "Company") dated                      
    2 December 2004, 24 December 2004, 31 December 2004                       
    and 21 January 2005 (the "Announcements") in relation                     
    to, among other things, the Acquisition.                                  
                                                                              
    Terms defined in this announcement shall have the same                    
    meanings as those defined in the Announcements unless                     
    the context requires otherwise.                                           
                                                                              
    Compliance with the Listing Rules                                         
    Pursuant to Rules 14.38 and 14.40 of the Listing Rules,                   
    the Company is required to despatch the