09:41     SIMSEN INT'L<00993> - Announcement (1)                              

    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.                                                             
                                                                              
    Haywood Shares Holding Limited    Simsen International Corporation Limited
    (incorporated in the British      (incorporated in Bermuda with           
    Virgin Islands with limited       limited liability)                      
    liability)                        (Stock code: 00993)                     
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    Dispatch of Composite Offer Document in relation to the                   
    voluntary conditional cash offers                                         
    by Grand Vinco Capital Limited, China Everbright Securities (HK)          
    Limited and                                                               
    MasterLink Securities (Hong Kong) Corporation Limited                     
    on behalf of                                                              
    Haywood Shares Holding Limited                                            
    to acquire all of the issued shares in the capital of,                    
    and for cancellation of all outstanding options of,                       
    Simsen International Corporation Limited                                  
    (other than those already owned by the Offeror and/or parties             
    acting in concert with it)                                                
                                                                              
    Joint financial advisers to      Financial adviser to Simsen International
    Haywood Shares Holding Limited   Corporation Limited                      
    Grand Vinco Capital Limited       Polaris Securities (Hong Kong) Limited  
    China Everbright Securities (HK)                                          
    Limited                                                                   
    MasterLink Securities (Hong Kong)                                         
    Corporation Limited                                                       
                                                                              
    Independent financial adviser to the Independent Board Committee          
                                                                              
    Kim Eng Corporate Finance (Hong Kong) Limited                             
                                                                              
    The Composite Offer Document containing, among other things,              
    details of the terms of the Offers, the recommendation of the             
    Independent Board Committee and the advice of the Independent             
    Financial Adviser in relation to the Offers, together with the            
    form of acceptance and transfer of Shares and form of acceptance          
    for cancellation of Options will be dispatched to the                     
    Shareholders and holders of the Options on 15 March 2005.                 
                                                                              
    The Independent Shareholders and holders of the Options should            
    read the Composite Offer Document, in particular, the letter              
    of advice from the Independent Financial Adviser to the                   
    Independent Board Committee before taking any action with                 
    regards to their holding of Shares and/or Options.                        
                                                                              
    Reference is made to the joint announcement made by the Company           
    and the Offeror dated 22 February 2005 (the "Announcement").              
    Terms used in this announcement shall have the same meanings              
    as those defined in the Announcement unless defined otherwise.            
                                                                              
    DISPATCH OF COMPOSITE OFFER DOCUMENT                                      
                                                                              
    The Composite Offer Document containing, among other things,              
    details of the terms of the Offers, the recommendation of the             
    Independent Board Committee and the advice of the Independent             
    Financial Adviser to the Independent Board Committee in relation          
    to the Offers, together with the form of acceptance and transfer          
    of Shares and form of acceptance for cancellation of Options              
    will be dispatched to the Shareholders and holders of the Options         
    on 15 March 2005.