09:28     EAGLE NICE<02368> - Announcement & Resumption (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.                                                     
                                                                              
    This announcement is for information purposes only                        
    and does not constitute an invitation or offer to                         
    acquire, purchase or subscribe for securities.                            
                                                                              
    Eagle Nice (International) Holdings Limited                               
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock code: 2368)                                                        
                                                                              
    Barits Securities (Hong Kong) Limited                                     
                                                                              
    PLACING OF EXISTING SHARES                                                
                                                                              
    Eagle Nice has been informed by Time Easy, the largest                    
    shareholder of Eagle Nice, that the Vendor Placing                        
    Agreement has been concluded on 3 March 2005 pursuant                     
    to which the Placing Agent will place, subject to                         
    conditions and on a best effort basis, 22,000,000                         
    Eagle Nice Shares to independent investors at the                         
    placing price of HK$4.125 per Vendor Placing Share.                       
    The Vendor Placing Shares represent approximately                         
    6.47% of the existing issued share capital of Eagle                       
    Nice. Upon completion of the Vendor Placing and on                        
    the basis that all the Vendor Placing Shares are                          
    placed by the Placing Agent, Time Easy's interests                        
    in Eagle Nice will be reduced from 148,500,000 Eagle                      
    Nice Shares, representing approximately 43.68% of the                     
    existing issued share capital of Eagle Nice to                            
    126,500,000 Eagle Nice Shares, representing                               
    approximately 37.21% of the existing issued share                         
    capital of Eagle Nice.                                                    
                                                                              
    At the request of Eagle Nice, trading in the Eagle                        
    Nice Shares on the Stock Exchange was suspended with                      
    effect from 9:30 a.m. on 4 March 2005. Application                        
    has been made by Eagle Nice for the resumption of                         
    trading in the Eagle Nice Shares on the Stock Exchange                    
    with effect from 9:30 a.m. on 7 March 2005.                               
                                                                              
    Reference is made to the joint announcement dated 29                      
    December 2004 and the circular dated 19 January 2005                      
    (the "Circular") both issued jointly by Yue Yuen and                      
    Eagle Nice in relation to, among other things, the                        
    Amendment Agreement and the New Whitewash Waiver.                         
    Unless otherwise defined, terms used herein shall                         
    have the same meanings as defined in the Circular.                        
                                                                              
    It was stated in the Circular that Eagle Nice will                        
    make an announcement as and when Mr. Chung and Time                       
    Easy have made a concrete plan on how to increase the                     
    public float of the Eagle Nice Shares prior to the                        
    Early Conversion.                                                         
                                                                              
    Eagle Nice has been informed by Time Easy, the largest                    
    shareholder of Eagle Nice, that the Vendor Placing                        
    Agreement has been concluded on 3 March 2005 on the                       
    terms summarised below.                                                   
                                                                              
    VENDOR PLACING AGREEMENT                                                  
    Date:                                                                     
    3 March 2005                                                              
                                                                              
    Parties:                                                                  
    (1)     Time Easy; and