09:29     EAGLE NICE<02368> - Announcement & Resumption (3)                   

    As at the date of       completion of the        and the                  
    this announcement       Vendor Placing (Note)   Early                     
    Conversion                                                                
    Number of                               Number of                         
         Number of                                                            
    Eagle Nice                              Eagle Nice                        
         Eagle Nice                                                           
    Shares          %               Shares          %               Shares    
         %                                                                    
                                                                              
    Time Easy       148,500,000             43.68           126,500,000       
            37.21           126,500,000             29.63                     
    Ms. Tsang Sau                                                             
      Fan   1,500,000               0.44            1,500,000               0 
    .44                                                                       
            1,500,000               0.35                                      
    The Subscriber  105,000,000             30.88           105,000,000       
            30.88           192,000,000             44.96                     
    Public  85,000,000              25.00           107,000,000               
    31.47                                                                     
            107,000,000             25.06                                     
                                                                              
    340,000,000             100.00          340,000,000             100.00    
            427,000,000             100.00                                    
                                                                              
    Note:   Assuming that all the Vendor Placing Shares are                   
    placed by the Placing Agent.                                              
                                                                              
    Accordingly, on the basis that the public float of                        
    the Eagle Nice Shares will remain at no less than                         
    31.47% after completion of the Vendor Placing and                         
    immediately before the Early Conversion, Mr. Chung                        
    and Time Easy will have complied with the Public Float                    
    Undertaking.                                                              
                                                                              
    GENERAL                                                                   
    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.                               
                                                                              
    As at the date of this announcement, the Board                            
    comprises of six executive Directors, namely, Mr.                         
    Chung Yuk Sing, Ms. Tsang Yuk Ni, Mr. Chung Tung Sau,                     
    Ms. Tsang Sau Fan, Mr. Edward Ku Yu Sun and Mr. Kuo                       
    Tai Yu, one non-executive Director, namely, Mr. Ong                       
    Chor Wei and three independent non-executive                              
    Directors, namely, Mr. Chan Cheuk Ho, Mr. Li Chi Chung                    
    and Mr. Tony Cheng Yung-Hui.                                              
                                                                              
    DEFINITIONS                                                               
    "Placing Agent" Barits Securities (Hong Kong)                             
    Limited, a deemed licensed corporation registered                         
    under the Securities and Futures Ordinance (Chapter                       
    571 of the Laws of Hong Kong) to carry out types 1                        
    and 6 regulated activities                                                
                                                                              
    "Vendor Placing"        the placing of the Placing Shares                 
    pursuant to the Vendor Placing Agreement                                  
                                                                              
    "Vendor Placing the placing agreement dated 3 March                       
    2005                                                                      
      Agreement"    between Time Easy and the Placing Agent                   
                                                                              
    "Vendor Placing 22,000,000 Eagle Nice Shares                              
    beneficially                                                              
      Shares"       owned by Time Easy                                        
                                                                              
    By Order of the Board                                                     
    Chung Yuk Sing                                                            
    Chairman                                                                  
    Hong Kong, 4 March 2005