09:22     CHINA INV HOLD<00132> - Announcement (4)                            

    cease to be subsidiaries of the Company.                                  
                                                                              
    3.                                                                        
    Information of the Group and the Purchaser                                
    The principal business activities of the Group are manufacture and        
    trading of fiberboards and veneers, property development and              
    investment, hotel operation and investment holding.                       
                                                                              
    The Purchaser is a limited liability company established in the PRC.      
    The Purchaser's principal business activities are development and         
    sales of real estate, conducting civil engineering projects, property     
    management and land valuation. To the best of the Directors'              
    knowledge, information and belief, and having made due enquiry, the       
    Purchaser and its ultimate shareholder are Independent Third Parties.     
                                                                              
                                                                              
    4.                                                                        
    General                                                                   
    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.                         
                                                                              
    Definitions used in this announcement                                     
    `Board'                        the board of directors of the              
                                   Company                                    
    `Company'                      China Investments Holdings                 
                                   Limited, a company                         
                                   incorporated in Bermuda with               
                                   limited liability, the shares              
                                   of which are listed on The                 
                                   Stock Exchange of Hong Kong                
                                   Limited                                    
    `Developer'                    a company established in the               
                                   PRC, an Independent Third                  
                                   Party                                      
    `Development Agreement'        the development agreement                  
                                   dated 6th February, 1993                   
                                   entered into between Wise                  
                                   Lite Limited, Skyway Limited               
                                   and the Developer in relation              
                                   to the development of Lot                  
                                   No.18-07 and 18-08 located at              
                                   District No.18, Jiang Bei,                 
                                   Huizhou, Guangdong Province,               
                                   the PRC, into commercial                   
                                   buildings                                  
    `Directors'                    the directors of the Company               
    `Disposal'                     the transactions contemplated              
                                   under the Preliminary                      
                                   Agreement                                  
    `Group'                        the Company and its                        
                                   subsidiaries                               
    `HK$'                          Hong Kong dollars, the lawful              
                                   currency of Hong                           
                                   Kong                                       
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   PRC                                        
    `Independent Third Party'      party independent of and not               
                                   connected with the Company                 
                                   and its connected persons (as              
                                   defined in the Listing                     
                                   Rules), and is not a                       
                                   connected person of the                    
                                   Company                                    
    `Land Bureau'                  (The Bureau of State Land and              
                                   Resources of Huizhou City,                 
                                   the PRC *)                                 
    `Listing Rules'                The Rules Governing the                    
                                   Listing of Securities on The               
                                   Stock Exchange of Hong Kong                
                                   Limited                                    
    `People's Government of         (People's Government of                   
    Huizhou                        Huizhou City*)                             
    City'                                                                     
    `Preliminary Agreement'        the preliminary agreement on               
                                   land use right transfer dated              
                                   6th February, 2005 entered                 
                                   into between the Vendors and               
                                   the Purchaser in relation to,              
                                   among others, the transfer of              
                                   either the Sale Land or the                
                                   Sale Shares                                
    `PRC'                          the People's Republic of                   
                                   China                                      
    `Purchaser'                    (Bo Lou County Heng Xin Zhi                
                                   Ye Ltd. *), a limited                      
                                   liability company established              
                                   in the PRC, an Independent