09:20     HARMONY ASSET<00428>-Announcement & Resumption of Trading(4)        

    SUSPENSION AND RESUMPTION OF TRADING                                      
    At the request of the Company, dealings in the Shares on                  
    the Stock Exchange were suspended with effect from 2 March                
    2005 on 9:30 a.m. pending for the release of an announcement              
    regarding this placement. Application has been made for                   
    the resumption of trading on the Stock Exchange with effect               
    from 3 March 2005 on 9:30 a.m..                                           
                                                                              
    DEFINITIONS                                                               
    In the announcement, the following expressions have the                   
    meanings set out below unless the context otherwise                       
    requires.                                                                 
                                                                              
    "associate(s)"   has the meaning ascribed in the Listing                  
    Rules                                                                     
                                                                              
    "Board"   the board of directors of the Company                           
                                                                              
    "Company"   Harmony Asset Limited, a company incorporated                 
    in Cayman Islands with limited liability, the shares of                   
    which are listed on the Stock Exchange                                    
                                                                              
    "HK$"   legal currency of Hong Kong                                       
                                                                              
    "Hong Kong"   The Hong Kong Special Administrative Region                 
    of the PRC                                                                
                                                                              
    "Listing Rules"   the Rules Governing the Listing of                      
    Securities on the Stock Exchange                                          
                                                                              
    "Placees"   any individual(s), institutional or other                     
    professional investor(s) or any of their respective                       
    subsidiaries or associates procured by the Placing Agent                  
    to subscribe for any of the Placing Shares pursuant to the                
    Placing Agreement                                                         
                                                                              
    "Placing"   placing of 24,300,000 Shares at the Placing                   
    Price pursuant to the Placing Agreement                                   
                                                                              
    "Placing Shares"   24,300,000 Shares to be placed under the               
    Placing                                                                   
                                                                              
    "SFO"   the Securities and Futures Ordinance (Chapter 571                 
    of the Laws of Hong Kong)                                                 
                                                                              
    "Share(s)"   the ordinary share(s) of HK$0.20 each in the                 
    capital of the Company                                                    
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "Placing Price"   HK$0.35 per Share                                       
                                                                              
    "%"   per cent.                                                           
                                                                              
                                                                              
    By order of the Board                                                     
    HARMONY ASSET LIMITED                                                     
    LEE Fong Lit David                                                        
    Chairman                                                                  
                                                                              
    2 March 2005                                                              
                                                                              
    As at the date of this announcement, the Board of Directors               
    comprises 3 executive directors, namely, Mr. LEE Fong Lit                 
    David, Dr. CHOW Pok Yu Augustine and Mr. LAM Andy Siu Wing                
    JP and 3 independent non-executive directors, namely, Mr.                 
    HO Man Kai, Anthony, Mr. TONG Kim Weng Kelly and Dr. WONG                 
    Yun Kuen.