09:12     GOLD PEAK<00040> - Announcement & Resumption of Trading (2)         

    Two according to the terms of the Loan Agreement. The                     
    aggregate amount to be received by Tarway Two from                        
    the Purchasers is therefore A$47.1 million (or                            
    approximately HK$289.9 million).                                          
                                                                              
    The relationship between Gerard Corporation, Gerard                       
    family and the Group before the completion of the                         
    Transaction is represented by the following chart:                        
                                                                              
                                                                              
                                                                              
                                                                              
    THE SHARE PURCHASE AGREEMENTS AND THE LOAN AGREEMENT                      
    The following is a summary of the principal terms of                      
    the Share Purchase Agreements and the Loan Agreement:                     
                                                                              
    The Share Purchase Agreements                                             
    Date                                                                      
    March 7, 2005                                                             
                                                                              
    Parties                                                                   
    Vendor  :       Tarway Two, an indirect wholly-owned                      
    subsidiary of CIHL                                                        
                                                                              
    Purchasers      :       each of Gerard Products Pty Ltd, Gerard           
    Plastics Pty Ltd and Mr. Robert Geoffrey GERARD                           
                                                                              
    Mr. Robert Geoffrey GERARD is a member of the GERARD                      
    family, Gerard Products Pty Ltd and Gerard Plastics                       
    Pty Ltd are beneficially owned by the GERARD family.                      
    Gerard Products Pty Ltd and Gerard Plastics Pty Ltd                       
    are investment holding companies. As GERARD family                        
    is a substantial shareholder (as defined in the                           
    Listing Rules) of CIHL which owns 17.5% interest in                       
    CIHL, the Purchasers are connected persons of the                         
    Company (as defined in the Listing Rules) and the                         
    transactions contemplated under the Share Purchase                        
    Agreements and the Loan Agreement are connected                           
    transactions for the Company under the Listing Rules.                     
                                                                              
    Assets being disposed                                                     
    An aggregate 21% equity interest in Gerard                                
    Corporation.                                                              
                                                                              
    Consideration                                                             
    The amount of A$25 million (or approximately HK$153.9                     
    million) in cash, which is payable in the manner                          
    described in the paragraph headed "Loan Amount"                           
    below.                                                                    
                                                                              
    The consideration was determined after arm's length                       
    negotiations and based on the unaudited net asset                         
    value of Gerard Corporation which, as at June 30, 2004,                   
    amounted to approximately A$118.9 million (or                             
    approximately HK$731.8 million) net of shareholders'                      
    loans.                                                                    
                                                                              
    Tarway Two's Shareholder's Loan                                           
    Before the Disposal, the capital structure of Gerard                      
    Corporation consisted of paid up share capital and                        
    shareholders' loans. These shareholders' loans were                       
    contributed by shareholders in proportion to their                        
    shareholdings. These shareholders' loans which                            
    essentially were equity in nature had no fixed                            
    repayment term and were non-interest bearing.                             
                                                                              
    After the Disposal, the Purchasers agreed to take up                      
    Tarway Two's proportionate shareholder loan in  the                       
    sum of A$22.1 million (or approximately