09:21     CHINA INV HOLD<00132> - Announcement (1)                            

    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.               
                                                                              
    CHINA INVESTMENTS HOLDINGS LIMITED                                        
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 132)                                                         
                                                                              
    ANNOUNCEMENT                                                              
    MAJOR TRANSACTION                                                         
    DISPOSAL OF ASSETS                                                        
                                                                              
    The Board would like to announce that the Vendors, all                    
    wholly-owned subsidiaries of the Company, entered into the                
    Preliminary Agreement on 6th February, 2005 with the Purchaser in         
    respect of the disposal of the Sale Land in Huizhou, Guangdong            
    Province, the PRC, of an aggregate site area of approximately 63,079      
    square meters, for an aggregate consideration of RMB51 million            
    (equivalent to approximately HK$48.11 million).                           
                                                                              
    The Disposal constitutes a major transaction for the Company under        
    the Listing Rules. A circular containing details of the Disposal          
    together with a notice to convene the SGM will be dispatched to the       
    shareholders of the Company as soon as practicable.                       
                                                                              
    Trading in the shares of the Company on the main board of the Stock       
    Exchange has been suspended since 2:30 p.m. on 18th August, 2003 and      
    will remain suspended until further announcement.                         
                                                                              
                                                                              
    1.                                                                        
    The Disposal                                                              
    (a)                                                                       
    Date of the Preliminary Agreement                                         
    6th February, 2005                                                        
    (b)                                                                       
    Parties to the Preliminary Agreement                                      
    (i)                  Vendors:             Wise Lite Limited,              
                                              Skyway Limited and              
                                              Fairwind                        
                                              International                   
                                              Limited, all                    
                                              wholly-owned                    
                                              subsidiaries of the             
                                              Company                         
    (ii)                 Purchaser:           (Bo Lou County Heng             
                                              Xin Zhi Ye Ltd.*)               
                                                                              
                                                                              
                                                                              
    (c)                                                                       
    Interest to be disposed of                                                
    The interest to be disposed of under the Preliminary Agreement is         
    either the Sale Land or the Sale Shares.                                  
                                                                              
    The Vendors and the Purchaser shall enter into either a land use          
    right transfer contract in respect of the Sale Land at the Land           
    Bureau or a shares transfer contract in respect of the Sale Shares        
    within 2 months from the date of the Preliminary Agreement.               
                                                                              
    In the event that the Land Bureau does not approve the transfer of        
    the land use right of the Sale Land from the Vendors to the Purchaser     
    or the Purchaser is of the opinion that the expenses incurred in such     
    transfer of land use right are too high, the Purchaser may opt to         
    purchase the Sale Shares instead of the Sale Land.                        
                                                                              
    (d)                                                                       
    Information of the Sale Land and the Sale Shares                          
    The information of the Sale Land is set out in paragraph 2 below.         
    Wise Lite Limited, Skyway Limited and Fairwind International Limited      
    are companies incorporated in Hong Kong in 1992 for the purpose of        
    acquiring the Sale Land. The net asset values of Wise Lite Limited,       
    Skyway Limited and Fairwind International Limited as at 31st              
    December, 2004 as stated in their respective unaudited accounts for       
    the year ended 31st December, 2004 are approximately HK$25,704,000,       
    HK$32,552,000 and HK$21,744,000 respectively. Wise Lite Limited,          
    Skyway Limited and Fairwind International Limited do not hold any         
    other asset apart from the Sale Land.                                     
                                                                              
    The net loss of Wise Lite Limited, Skyway Limited and Fairwind            
    International Limited as stated in their respective unaudited             
    accounts for the year ended 31st December, 2004 and as stated in          
    their respective audited accounts for the year ended 31st December,       
    2003 are set out below:                                                   
                                                                              
                         Net loss as stated   Net loss as stated              
                         in the unaudited     in the audited