09:32     NEW CENTURY GP<00234> - Announcement (4)                            

    Since Evervalue is an Independent Third Party, the                        
    transactions under the New Sub-charter Agreements do                      
    not constitute continuing connected transactions to                       
    the Company under the Listing Rules.                                      
                                                                              
    Sub-charter fees                                                          
    Set out below are the sub-charter fees payable by                         
    Evervalue to the Subsidiary which remain the same with                    
    those under the Existing Sub-charter Agreements:                          
                                                                              
    (i)   "Leisure World"                                                     
    Evervalue will pay to the Subsidiary a daily                              
    sub-charter fee as follows:                                               
                                                                              
    Period   Daily sub-charter fee                                            
    S$   HK$ equivalent                                                       
                                                                              
    1st April, 2005 to  24th November, 2005   77,700                          
    357,420                                                                   
    25th November, 2005 to  24th November, 2006   80,200                      
    368,920                                                                   
    25th November, 2006 to  24th November, 2007   82,700                      
    380,420                                                                   
                                                                              
    (ii)   "Amusement World"                                                  
    Evervalue will pay to the Subsidiary a daily                              
    sub-charter fee as follows:                                               
                                                                              
    Period   Daily sub-charter fee                                            
    S$   HK$ equivalent                                                       
                                                                              
    1st April, 2005 to  24th November, 2005   64,500                          
    296,700                                                                   
    25th November, 2005 to  24th November, 2006   67,000                      
    308,200                                                                   
    25th November, 2006 to  24th November, 2007   69,500                      
    319,700                                                                   
                                                                              
    Set out below are the aggregate sub-charter fees                          
    payable by Evervalue to the Subsidiary based on the                       
    above daily sub-charter fees for the relevant                             
    years/period:                                                             
                                                                              
    (i)   the aggregate sub-charter fee payable to the                        
    Subsidiary by Evervalue in respect of sub-chartering                      
    the vessel "Leisure World":                                               
                                                                              
    Period   Aggregate sub-charter fee                                        
    S$   HK$ equivalent                                                       
                                                                              
    1st April, 2005 to  31st March, 2006   28,678,000                         
    131,918,800                                                               
    1st April, 2006 to  31st March, 2007   29,590,500                         
    136,116,300                                                               
    1st April, 2007 to  24th November, 2007   19,682,600                      
    90,539,960                                                                
                                                                              
    (ii)   the aggregate sub-charter fee payable to the                       
    Subsidiary by Evervalue in respect of sub-chartering                      
    the vessel "Amusement World":                                             
                                                                              
    Period   Aggregate sub-charter fee                                        
    S$   HK$ equivalent                                                       
                                                                              
    1st April, 2005 to  31st March, 2006   23,860,000                         
    109,756,000                                                               
    1st April, 2006 to  31st March, 2007   24,772,500                         
    113,953,500                                                               
    1st April, 2007 to  24th November, 2007   16,541,000                      
    76,088,600                                                                
                                                                              
    Condition                                                                 
    The New Sub-charter Agreements are conditional on the                     
    New Charter Agreements coming into effect on or before                    
    1st April, 2005.