10:30     Share Buyback Notifications (SBN)                                   

    The Stock Exchange of Hong Kong Limited has received notifications from   
    the following companies regarding the repurchase of ordinary shares as    
    follows:-                                                                 
                                                                              
                                    No. of                                    
    Name of Company      Date of    Securities  Highest Price  Lowest Price   
    (Stock Code)         Repurchase Repurchased per Share      per Share      
    -------------------- ---------- ----------- -------------- -------------- 
    ALLIED GROUP LIMITED 11/03/2005 34,000      HKD 11.60         -           
     ( 373)                                                                   
                                                                              
    MING PAO ENTERPRISE  11/03/2005 110,000     HKD 1.53       HKD 1.50       
    CORPORATION LIMITED                                                       
     ( 685)                                                                   
                                                                              
    management fees, utilities charges and maintenance fee of security        
    alarm system, which is comparable to similar properties in the vicinity   
                                                                              
    REASONS FOR ENTERING INTO THE LEASE AGREEMENT                             
                                                                              
    The Group is principally engaged in property development and              
    investment. The Directors (including the independent non-executive        
    Directors) believe that the Lease will provide additional stable income   
    for the Company and consider the terms of the Lease Agreement to be       
    fair and reasonable and in the best interests of the Company and its      
    shareholders as a whole.                                                  
                                                                              
    GENERAL                                                                   
                                                                              
    As the appropriate percentage ratio defined under the Listing Rules       
    exceeds 5%, the signing of the Lease Agreement constitutes a              
    discloseable transaction for the Company under Chapter 14 of the          
    Listing Rules and is subject to the disclosure requirements under         
    Chapter 14 of the Listing Rules. The Company will issue a circular        
    containing particulars of the Lease Agreement to the shareholders of      
    the Company as soon as practicable.                                       
                                                                              
    Mr. Lee Wing Keung is the son of Mr. Lee Lap, Chairman and Chief          
    Executive Officer of the Company, and, as such, is treated as an          
    associate of Mr. Lee Lap under Rule 14A.11(4)(b) of the Listing Rules     
    and thereby is a connected person of the Company under Chapter 14A of     
    the Listing Rules. Accordingly, the signing of the Lease Agreement        
    constitutes a continuing connected transaction for the Company under      
    the Listing Rules. As the annual rent under the Lease Agreement does      
    not exceed HK$10 million or 2.5% of each of the appropriate percentage    
    ratios defined under the Listing Rules, it is subject to the disclosure   
    requirements under Rule 14A.34 of the Listing Rules and particulars of    
    the Lease Agreement will be included in the Company's next published      
    annual report in accordance with the Listing Rules.                       
                                                                              
    DEFINITIONS                                                               
                                                                              
    "Company"  Termbray Industries International (Holdings) Limited, a        
    company incorporated in Bermuda with limited liability, the shares of     
    which are listed on the main board of the Stock Exchange                  
                                                                              
    "Director(s)"  the director(s) of the Company                             
                                                                              
    "Group"  the Company together with its subsidiaries                       
                                                                              
    "Lease"  the transaction contemplated under the Lease Agreement           
                                                                              
    "Lease Agreement"  the lease agreement dated 11 March 2005 entered into   
    between Mr. Lee Wing Keung as the lessee and Termbray (Fujian) Land       
    Development Company Limited, a wholly owned subsidiary of the Company,    
    as the lessor                                                             
                                                                              
    "Listing Rules"  the Rules Governing the Listing of Securities on the     
    Stock Exchange                                                            
                                                                              
    "Property"  the residential property situated on Hong Kong Island with    
    a saleable area of approximately 306 square metres                        
                                                                              
    "Stock Exchange"  The Stock Exchange of Hong Kong Limited                 
                                                                              
    "HK$"  Hong Kong dollars, the lawful currency of Hong Kong                
                                                                              
    By order of the Board                                                     
    TERMBRAY INDUSTRIES INTERNATIONAL (HOLDINGS) LIMITED                      
    Lee Lap                                                                   
    Chairman & CEO                                                            
                                                                              
    Hong Kong, 11 March 2005                                                  
                                                                              
    As at the date hereof, the board of Directors comprises of three          
    executive Directors, namely Mr. LEE Lap, Mdm. LEUNG Lai Ping and Mr.      
    WONG Shiu Kee; one non-executive Director, namely Mr. LEE Ka Sze,         
    Carmelo and three independent non-executive Directors, namely Dr. LEE     
    Tung Hai, Leo, Mr. CHAN Siu Kang and Mr. LO Yiu Hee.