09:22     MORNING STAR<00542> - Announcement (2)                              

    of the Company, that Firstway intended to sell up to                      
    approximately 27,000,000 shares, representing                             
    approximately 1.12% of the issued share capital in                        
    our Company between 21st February, 2005 and 25th                          
    February, 2005. Subsequently, another notification                        
    was received by the Company from Tan Sri Dr KHOO Kay                      
    Peng, that Firstway intended to sell up to                                
    approximately 27,000,000 shares in our Company                            
    between 28th February, 2005 and 7th March, 2005.                          
    However, due to the thin trading volume of our                            
    Company's shares in February 2005, Firstway had not                       
    been able to sell any of their shares in our Company                      
    in February 2005.                                                         
                                                                              
    For the period from 1st February, 2005 to 28th                            
    February, 2005 the market was not active and the                          
    aggregate trading volume of the Company's shares                          
    amounted to 1,469,000 shares. Firstway and Bonham                         
    were unable to place down any shares to restore the                       
    public float of the Company in February 2005 due to                       
    the low trading volume of the Company's shares in                         
    February 2005.                                                            
                                                                              
    The Company and the substantial shareholders of the                       
    Company namely Firstway and Bonham are unable to state                    
    at this juncture when the public float portion of the                     
    Company's shares can be restored but have undertaken                      
    to the Stock Exchange that they will continue to take                     
    necessary measures to place down the shares and                           
    approach investors in Hong Kong and overseas with the                     
    objective of meeting the public float requirement in                      
    compliance with Rule 8.08 of the Listing Rules on or                      
    before 30th April, 2005. The Company requires a                           
    further extension of two months to fulfil the minimum                     
    public float requirement of 25% as the Model Code for                     
    Securities Transaction by Directors of Listed                             
    Companies prohibits the directors of the Company to                       
    deal in the securities of the Company during the                          
    period of one month immediately before the date of                        
    announcement of the Company's annual results for the                      
    year ended 31st December, 2004, which has been                            
    scheduled on 8th April, 2005.                                             
                                                                              
    The Stock Exchange has stated that it will closely                        
    monitor the trading in the Company's shares to ensure                     
    a false market does not develop and may suspend the                       
    shares of the Company if there is any unusual price                       
    movement.                                                                 
                                                                              
    Shareholders and investors are advised to exercise                        
    extreme caution when dealing in the shares of the                         
    Company. A further announcement in this respect will                      
    be made by the Company before 30th April, 2005 or the                     
    sooner when the public float is restored.                                 
                                                                              
    By Order of the Board                                                     
    CHAN MOK SENG                                                             
    Executive Director                                                        
                                                                              
    Hong Kong, 4th March, 2005                                                
                                                                              
    As at the date hereof, the Executive Director of the                      
    Company is Mr CHAN Mok Seng; the Non-Executive                            
    Directors are Tan Sri Dr KHOO Kay Peng (Chairman),                        
    Mr CHEANG Yoon Hoong, Mr KHET Kok Yin, Ms TAN Lian                        
    Tee and Mr Anthony YAP (Alternate Director to Mr KHET                     
    Kok Yin); and the Independent Non-Executive Directors                     
    are Mr WONG Kim Ling, Mr OOI Boon Leong @ LAW Weng                        
    Leun and Mr OH Hong Choon.