09:42     ASIA ORIENT<00214> - Announcement (4)                               

    Company while improving the financial position of the Company. The        
    net price per Subscription Share (based on the estimate net proceeds      
    from the Subscription) is approximately HK$2.44 per Subscription          
    Share. The directors of the Company (including the independent            
    non-executive directors of the Company consider that the terms of the     
    Placing and the Subscription to be fair and reasonable and in the         
    interst of the Company.                                                   
                                                                              
    The Company has not engaged in any fund raising by way of equity          
    issues in the 12 months preceding the date of this announcement.          
                                                                              
    RENEWAL OF GENERAL MANDATE TO ISSUE SHARES                                
    The board of directors of the Company also proposes to renew the          
    general mandate granted to the Directors at the annual general            
    meeting of the Company held on 27th August, 2004 to allot and issue       
    Shares of the Company. The Board will seek approval from Independent      
    Shareholders of the relevant resolutions to be proposed at a special      
    general meeting of the Company. An independent financial adviser will     
    also be appointed by the Company in respect of the proposed renewal       
    of general mandate. Further details of such proposal and the opinion      
    of the independent financial adviser on the proposed renewal of           
    general mandate will be set out in a circular to the shareholders of      
    the Company together with a notice of special general meeting of the      
    Company to convene a special general meeting to approve such renewal      
    of general mandate.                                                       
                                                                              
    DEFINITIONS                                                               
    In this announcement, unless the context otherwise requires, the          
    following expressions have the following meanings:                        
                                                                              
    `associate(s)'                 has the meaning as ascribed                
                                   to it under the Listing Rules              
    `Company'                      Asia Orient Holdings Limited,              
                                   a company incorporated in                  
                                   Bermuda with limited                       
                                   liability and the Shares of                
                                   which are listed on the Stock              
                                   Exchange                                   
    `Corporate Vendors'            Teddington Holdings Limited,               
                                   Full Speed Investments                     
                                   Limited and Heston Holdings                
                                   Limited, all being companies               
                                   wholly owned by Mr. Poon Jing              
    `Executive'                    the executive director of the              
                                   Corporate Finance Division of              
                                   the SFC and any of its                     
                                   delegates                                  
    `General Mandate'              the general mandate granted                
                                   by shareholders of the                     
                                   Company at its annual general              
                                   meeting held on 27th August,               
                                   2004 to issue or deal with up              
                                   to 34,698,618 new Shares                   
    `Group'                        the Company and its                        
                                   subsidiaries                               
    `HK$'                          Hong Kong dollars, the lawful              
                                   currency of Hong Kong                      
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   People's Republic of China                 
    `Independent Shareholders'     shareholders of the Company                
                                   (other than the Vendors and                
                                   their associates and parties               
                                   acting in concert with them)               
    `Independent Third Parties'    a party who to the best of                 
                                   the knowledge, information                 
                                   and belief of directors of                 
                                   the Group having made all                  
                                   reasonable enquiry is a third              
                                   party independent of the                   
                                   Group and connected persons                
                                   (as defined in the Listing                 
                                   Rules) of the Group and not                
                                   acting in concert with any of              
                                   them                                       
    `Last Dealing Date'            2nd March, 2005, being the                 
                                   last trading day for the                   
                                   Shares prior the issue of                  
                                   this Announcement                          
    `Listing Committee'            the listing sub-committee of               
                                   the Stock Exchange                         
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on the               
                                   Stock Exchange                             
    `Placees'                      the placees procured by the                
                                   Placing Agent under the                    
                                   Placing, all of which will be              
                                   Independent Third Parties                  
    `Placing'                      the placement of 34.6 million              
                                   existing Shares by the                     
                                   Placing Agent to the Placees               
                                   at the Placing Price under                 
                                   the Placing Agreement                      
    `Placing Agent' or `Tai Fook'  Tai Fook Securities Company