09:29     PEARL ORIENTAL<00600> - Announcement (3)                            

    Holding Limited (collectively the "Vendors") and Pearl Oriental Macau     
    Limited, a wholly-owned subsidiary of the Company (the "Purchaser")       
    dated 3 January 2005 whereby the Vendors have agreed to sell and the      
    Purchaser has agreed to purchase 40% of the issued share capital of       
    Hotel Golden Dragon (Macao) Company Limited at an aggregate               
    consideration of HK$514,000,000 (the "Consideration"), the directors of   
    the Company be and are hereby authorised to allot and issue 345,000,000   
    shares of HK$0.05 each in the share capital of the Company as fully       
    paid at an agreed issue price of HK$0.80 per share upon completion of     
    the Agreement in partial settlement of the Consideration; and             
                                                                              
    (b)  any one director of the Company be and is hereby authorised to do    
    such acts or execute such other documents by hand or, in case of          
    execution of documents under seal, to do so jointly with either the       
    secretary or a second director of the Company or a person appointed by    
    the board of directors of the Company, which in his or their opinion      
    may be necessary, desirable or expedient to carry out or to give effect   
    to the transactions contemplated under the Agreement."                    
                                                                              
    By Order of the Board                                                     
    Pearl Oriental Enterprises Limited                                        
    Wong Kwan                                                                 
    Chairman                                                                  
                                                                              
    Hong Kong, 14 March 2005                                                  
                                                                              
    As at the date of this announcement, the Board comprises Mr. Wong Yuk     
    Kwan (alias Wong Kwan), Mr. Law Kar Po, Mr. Lee Sam Yuen, John, Ms. Law   
    Wing Yee, Wendy, and Ms. Lee Siu Yuk, Eliza as executive Directors, Dr.   
    Wong Alfonso as non-executive Director, and Mr. Chan Nim Leung, Leon,     
    Mr. Ha Kee Choy, Eugene and Mr. Ng Kai Man, Luke as independent           
    non-executive Directors.                                                  
                                                                              
    * For the Chinese name, please refer to the press announcements today.