08:59     EVI EDUCATION<08090> - Announcement                                 

                                                                              
    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.                                                     
                                                                              
    EVI Education Asia Limited                                                
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 8090)                                                        
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    Summerview, the existing controlling shareholder of                       
    the Company, has sold an aggregate of 426,900,000                         
    Shares beneficially owned by it to three independent                      
    Placees on 14 March 2005. After taking into account                       
    the Share Sales, the public float of the Company would                    
    be 20% upon completion of the Subscription.                               
                                                                              
    Each of the Placees, and its ultimate beneficial owner                    
    in the case of a corporate placee, is not a connected                     
    person of the Company (as defined under the GEM                           
    Listing Rules) and is independent of and not connected                    
    with the Directors, substantial shareholders,                             
    management shareholders and chief executives of the                       
    Company and Midland and the Subscriber or any of their                    
    respective subsidiaries or associates (as defined                         
    under the GEM Listing Rules).                                             
                                                                              
    All conditions precedent to the completion of the                         
    Subscription have been fulfilled and Completion is                        
    scheduled to take place on 15 March 2005.                                 
                                                                              
    By order of the Board                                                     
    EVI Education Asia Limited                                                
    Pong Wai San, Wilson                                                      
    Chairman                                                                  
                                                                              
    Hong Kong, 14 March 2005                                                  
                                                                              
    As at the date of this announcement, the Board                            
    comprises seven directors, of which (i) four are                          
    executive Directors, namely Mr. Pong Wai San, Wilson,                     
    Mr. Cheung Shi Kwan, Wings, Ms. Pong Lo Shuk Yin,                         
    Dorothy and Mr. Lau Wai Shu, and (ii) three are                           
    independent non-executive Directors, namely Mr. Hung                      
    Tak Chow, Charles, Mr. Hung Fan Wai, Wilfred and Mr.                      
    Lai Hin Wing, Henry.                                                      
                                                                              
    This announcement for which the Directors                                 
    collectively and individually accept full                                 
    responsibility, includes particulars given in                             
    compliance with the GEM Listing Rules for the purpose                     
    of giving information with regard to the Company. The                     
    Directors, having made all reasonable enquiries,                          
    confirm that, to the best of their knowledge and                          
    belief: (1) the information contained in this                             
    announcement is accurate and complete in all material                     
    aspects and not misleading; (2) there are no other                        
    matters the omission of which would make any statement                    
    in this announcement misleading; and (3) all of their                     
    opinions expressed in this announcement have been                         
    arrived at after due and careful consideration and                        
    are founded on bases and assumptions that are fair                        
    and reasonable.                                                           
                                                                              
    The above announcement is a summary only. For the full                    
    version of this announcement, please refer to the                         
    'Latest Company Announcements' page on the GEM                            
    website at www.hkgem.com.