09:24     A-MAX<00959> - Announcement                                         

    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.                   
                                                                              
    A-MAX HOLDINGS LIMITED                                                    
    (incorporated in Bermuda with limited liability)                          
    (Stock code: 959)                                                         
                                                                              
    ACQUISITION OF EXISTING CONVERTIBLE NOTES                                 
    BY THE CONTROLLING SHAREHOLDER OF                                         
    GREEK MYTHOLOGY (MACAU)                                                   
    ENTERTAINMENT GROUP CORPORATION LIMITED                                   
                                                                              
    The Board was informed by Mr. Ng Man Sun, the controlling shareholder     
    of Greek Mythology (Macau) Entertainment Group Corporation Limited,       
    that he has today acquired from Dame Fortune Investments Limited          
    existing CNs in the principal amount of HK$2,800,000.                     
                                                                              
    The board (the "Board") of directors of A-Max Holdings Limited (the       
    "Company") was informed by Mr. Ng Man Sun ("Mr. Ng"), the controlling     
    shareholder of Greek Mythology (Macau) Entertainment Group Corporation    
    Limited ("Greek Mythology"), that he has today acquired from Dame         
    Fortune Investments Limited (beneficially owned by Ms Guo Qi Li)          
    existing convertible notes (the "CNs") in the principal amount of         
    HK$2,800,000 convertible into 1,526,807,503 shares in the Company (the    
    "Shares"). As disclosed in the Company's announcement of 7 February       
    2005, the CNs were originally issued in March 2004 pursuant to a          
    subscription agreement dated 20 February 2004.                            
                                                                              
    The Company has made a request to Mr. Ng but Mr. Ng did not disclose      
    the consideration for the acquisition and his intention about the         
    acquisition and the conversion.                                           
                                                                              
    The shareholding of the Company immediately prior to, and after, the      
    conversion of the CNs is set out below:                                   
                                                                              
        Immediately after  Immediately after                                  
        the conversion of the   the conversion of the                         
      Immediately prior  CNs in the principal   CNs in the total principal    
      to the conversion  amount of HK$2,800,000  amount of HK$3,600,000       
      of the CNs  by Mr. Ng  by other holders of CNs                          
      Number of  approximate   Number of   approximate   Number of            
    approximate   Shares  %  Shares  %  Shares      %                         
                                                                              
    Shareholders                                                              
                                                                              
    Greek Mythology  362,946,710  23.29%  362,946,710  11.77%                 
    362,946,710     4.89Mr. Ng  -  -  1,526,807,503  49.49%  1,526,807,503    
    20.57Holders of CNs                                                       
      (other than Mr. Ng)                                                     
       in the aggregate amount                                                
      of HK$3,600,000  -  -  -  -  4,339,255,890  58.45                       
    Public Shareholders  1,195,128,887  76.71%  1,195,128,887  38.74%         
    1,195,128,887  16.09                                                      
                                                                              
    Total  1,558,075,597  100%  3,084,883,100  100%  7,424,138,990  100%      
                                                                              
    It is a term of the CNs that no conversion shall be allowed and the       
    Company shall not issue any Shares if upon such issue, the holder of      
    the CNs and parties acting in concert (as defined in the Hong Kong Code   
    on Takeovers and Mergers) with it, shall be interested in 30% (or such    
    amount as may from time to time be specified in the Hong Kong Code on     
    Takeovers and Mergers as being the level for triggering a mandatory       
    general offer) or more of the then enlarged issued share capital of the   
    Company at the date of the relevant exercise date.                        
                                                                              
    Save as the outstanding CNs in the aggregate principal amount of          
    HK$6,400,000, the Company does not have any outstanding securities        
    convertible into Shares as at the date of this announcement.              
                                                                              
    By Order of the Board of                                                  
    A-Max Holdings Limited                                                    
    Ng Wai Fong                                                               
    Chairperson                                                               
                                                                              
    Hong Kong, 7 March 2005                                                   
                                                                              
    As at the date of this announcement the executive directors of the        
    Company are Ng Wai Fong, Chan King Ming, Leung Kwai Hing, Kam Shuk        
    Ling, Lam Yiu Man and Ching Mei Yee and the independent non-executive     
    directors of the Company are Wong Chi Keung, Yuan Xiaoxin and Ng Wai      
    Hung.