09:24     PREMIUM LAND<00164> - Announcement (8)                              

    notes to be issued by the Company in the aggregate                        
    principal amount of  HK$31,200,000 at the conversion                      
    price of HK$0.03 per Share, details of which were set                     
    out in the Company's announcement dated 6 January 2005                    
                                                                              
    "HK$"   Hong Kong dollars                                                 
                                                                              
    As at the date of this announcement, the executive                        
    Directors are Mr. Dong Bo, Frederic and Mr. Lau Man                       
    Tak. The independent non-executive Directors are Mr.                      
    Kan Kwok Shu, Mr. Shum Ka Hei, Mr. Pang Haiou and Mr.                     
    Zuo Guang.                                                                
                                                                              
    By order of the board of                                                  
    Premium Land Limited                                                      
    Dong Bo, Frederic                                                         
    Director                                                                  
                                                                              
    Hong Kong, 7 March 2005                                                   
                                                                              
    *  for identification purposes only