09:30     A-MAX<00959> - Announcement (2)                                     

    - Conversion of CN in the principal amount of HK$200,000 by Mr. Ng Wai    
    Cheung     at an effective conversion price of 0.19 Hong Kong cents       
    (Note)  104,398,515                                                       
                                                                              
    Total number of issued shares after completion of the events set out      
    above  2,192,368,827                                                      
                                                                              
    Note: The effective conversion price may not reflect the holder's         
    actual investment costs.                                                  
                                                                              
    Save as disclosed above, no other events which would lead to the issue    
    of Shares or other securities of the Company since 7 March 2005 have      
    occurred.                                                                 
                                                                              
    The shareholding of the Company immediately prior to, and after, the      
    conversion of the CNs is set out below:                                   
                                                                              
        Immediately after   Immediately after                                 
      Immediately prior   the conversion of the   the conversion of the       
      to the conversion   CNs in the total principal   CNs in the total       
    principal Shareholders  of the CNs   amount of HK$1,400,000  amount of    
    HK$5,000,000  Number of  approximate  Number of  approximate  Number of   
     approximate  Shares  %  Shares  %  Shares      %                         
                                                                              
    Greek Mythology (Macau)                                                   
      Entertainment Group                                                     
      Corporation Limited   362,946,710  23.29  362,946,710  16.56            
    362,946,710     4.89Mr. Ng Man Sun  -  -  -  -  3,674,444,304  49.49      
    The Placees and Mr. Ng Wai Cheung  -  -  634,293,230  28.93               
    634,293,230     8.54Holders of CNs                                        
      (other than Mr. Ng Man Sun                                              
      and Mr. Ng Wai Cheung)  -  -  -  -  1,557,325,859  20.98                
    Other public shareholders  1,195,128,887  76.71  1,195,128,887  54.51     
    1,195,128,887  16.10                                                      
                                                                              
    Total  1,558,075,597  100.00  2,192,368,827  100.00  7,424,138,990        
    100.00                                                                    
                                                                              
    It is a term of the CNs that no conversion shall be allowed and the       
    Company shall not issue any Shares if upon such issue, the holder of      
    the CNs and parties acting in concert (as defined in the Hong Kong Code   
    on Takeovers and Mergers) with it, shall be interested in 30% (or such    
    amount as may from time to time be specified in the Hong Kong Code on     
    Takeovers and Mergers as being the level for triggering a mandatory       
    general offer) or more of the then enlarged issued share capital of the   
    Company at the date of the relevant exercise date. Immediately after      
    the conversion of the CNs in the principal amount of HK$1,400,000 by      
    Mr. Ng Wai Cheung, the Company will have outstanding CNs in the           
    principal amount of HK$5,000,000 which are held as to HK$2,800,000 by     
    Mr. Ng Man Sun, the controlling shareholder of Greek Mythology (Macau)    
    Entertainment Group Corporation Limited, as to HK$600,000 by Dame         
    Fortune Investments Limited, as to HK$800,000 by Ms. He Chu Xing and as   
    to HK$800,000 by Mr. Yiu Fuk Kei.                                         
                                                                              
    Save as the outstanding CNs in the principal amount of HK$5,000,000,      
    the Company does not have any outstanding securities convertible into     
    Shares as at the date of this announcement.                               
                                                                              
    By Order of the Board of                                                  
    A-Max Holdings Limited                                                    
    Ng Wai Fong                                                               
    Chairperson                                                               
                                                                              
    Hong Kong, 15 March 2005                                                  
                                                                              
    As at the date of this announcement the executive directors of the        
    Company are Ng Wai Fong, Chan King Ming, Leung Kwai Hing, Kam Shuk        
    Ling, Lam Yiu Man and Ching Mei Yee and the independent non-executive     
    directors of the Company are Wong Chi Keung, Yuan Xiaoxin and Ng Wai      
    Hung.