09:25 NEW WORLD CYBER<00276> - Announcement (2) 1,730,283,756 Rights Shares. Accordingly, the Rights Issue was approximately 11.88 times subscribed, of which approximately 0.76 times were subscribed under the provisional allotment of Rights Shares and approximately 11.12 times were subscribed under the excess applications for the Rights Shares. Such acceptances and applications include: (i) 99,378,160 Rights Shares accepted and paid for and 1,528,873,674 excess Rights Shares applied for by the Qualifying Shareholders (other than Golden Infinity); and (ii) 12,031,922 Rights Shares accepted and paid for and 90,000,000 excess Rights Shares applied for by Golden Infinity. The Rights Shares accepted and paid for by Golden Infinity represent the number of Rights Shares which Golden Infinity had indicated to accept in the Rights Issue. As a result of the over-subscription of the Rights Shares, Golden Infinity's obligations under the Underwriting Agreement have been discharged at 4:00 p.m. on Monday, 7 March 2005. EXCESS APPLICATION Regarding 856 valid applications for 1,618,873,674 Rights Shares applied for by way of excess application, the Directors have resolved to allot, from among the Rights Shares allotted provisionally but not accepted, to the applicants such number of Rights Shares in the following manner: Approximate percentage of allocation based on the total Number Total number number of excess Rights Excess Rights of valid of Rights Shares Shares applied for Shares applied for applications allotted in this category Allotment basis 25 to 4,999 155 653,209 100.00% In full 5,000 to 269,999 505 4,586,209 11.88% Odd lot in full plus approximately 1.90% on remaining excess Rights Shares applied for 270,000 to 9,999,999 178 6,623,579 1.97% Odd lot in full plus approximately 1.90% on remaining excess Rights Shares applied for above 9,999,999 18 22,350,950 1.80% Approximately 1.80% Total 856 34,213,947 The Directors consider that the allocation of the excess Rights Shares is on a fair and reasonable basis. Golden Infinity has taken up (i) its provisional allotment of 12,031,922 Rights Shares, representing approximately 8.26% of the Rights Shares under the Rights Issue; and (ii) 1,620,000 excess Rights Shares applied for by itself. Accordingly, the shareholding of Golden Infinity and its Concert Parties in the Company increased from 28,538,045 Shares (representing approximately 9.80% of the Company's share capital immediately before completion of the Rights Issue) to 42,189,967 Shares (representing approximately 9.66% of the issued share capital of the Company as enlarged by the Rights Issue). NWCBN (a Concert Party of Golden Infinity) and Mr. Lau Wai Piu (an independent non-executive Director) have not taken up any Rights Shares. The following is a table showing the changes in shareholding structure of the Company prior to and immediately following completion of the Rights Issue: Immediately before Immediately after completion of the completion of the Rights Issue Rights Issue Number of Number of Shares % Shares % Golden Infinity 24,063,845 8.26