09:46     STONE HOLDINGS<00409> - Announcement (10)                           

    branch companies in the PRC.                                              
                                                                              
    Beijing MTY offers and delivers its services through                      
    the nationwide telecommunication network carriers in                      
    the PRC. Mobile information services currently                            
    offered by Beijing MTY include:                                           
                                                                              
    *       daily and entertainment information services                      
    which includes traffic information, news, chat                            
    communities, dating services, as well as mobile                           
    electronic books and voice magazines                                      
                                                                              
    *       interactive games which are developed by Beijing                  
    MTY in-house                                                              
                                                                              
    *       multimedia messages services ("MMS") and ring                     
    tones downloads                                                           
                                                                              
    *       mobile secretary services where mobile phone                      
    subscribers can post questions they may have through                      
    short message services ("SMS") to Beijing MTY which                       
    will provide prompt replies                                               
                                                                              
    *       mobile location services which is a LBS provided                  
    through SMS and wireless application protocol ("WAP")                     
    where mobile phone subscribers can determine their                        
    geographical location as well as nearby facilities                        
    available (such as restaurants) in the PRC. Beijing                       
    MTY is currently developing some featured LBS with                        
    the PRC telecommunication network carriers. One of                        
    the services is "Aibeitong", a children location                          
    service which allows the parents or guardians to                          
    locate their children's positions as well as giving                       
    their children voice access to their parents and                          
    guardians at any time through a three-button mobile                       
    device                                                                    
                                                                              
    *       interactive voice response services ("IVRS")                      
    which provides news, weather reports, financial data,                     
    language assistance and leisure information through                       
    voice messages                                                            
                                                                              
    *       GPS services such as automobile telecommunication                 
    services where drivers can make voice calls, SMS,                         
    obtain traffic information, navigating assistance,                        
    shopping and others services through a customer                           
    hotline in the PRC operated by Beijing MTY.                               
                                                                              
    Beijing MTY is also developing VAS that makes use of                      
    the more advanced technologies such as GPRS and 3G                        
    mobile phone networks.                                                    
                                                                              
    In addition, Beijing MTY also maintains a website,                        
    www.mty.cn, as a mean for providing more                                  
    comprehensive services to its customers, as well as                       
    a marketing channel for its products and services.                        
                                                                              
    As at 31 December 2004, Beijing MTY had approximately                     
    3.2 million registered subscribers. Contents and                          
    information provided by Beijing MTY is either                             
    generated from its in-house content provision team                        
    or outsourced from other content providers.                               
                                                                              
    Financial information                                                     
    The followings are financial information on Beijing                       
    MTY as prepared in accordance with PRC GAAP:                              
                                                                              
    For the period from                                                       
    26 May 2003 to          For the year ended                                
    31 December 2003                31 December 2004                          
    (audited)               (unaudited)                                       
    RMB million             RMB million