09:48     STONE HOLDINGS<00409> - Announcement (15)                           

    "Vendor"        Yearbase International Limited, a company                 
    incorporated in the British Virgin Islands with                           
    limited liability which is wholly owned by Mr. Chen                       
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong                                                                      
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC                          
                                                                              
    "US$"   United States dollars, the lawful currency of                     
    the United States of America                                              
                                                                              
    "%"     per cent.                                                         
                                                                              
    Conversion of RMB into HK$ is based on the exchange                       
    rate of RMB1.06 = HK$1.00 and conversion of US$ into                      
    HK$ is based on the exchange rate of US$1 = HK$7.8.                       
                                                                              
    On behalf of the Board                                                    
    Stone Group Holdings Limited                                              
    Duan Yongji                                                               
    Chairman                                                                  
                                                                              
    Hong Kong, 14 March 2005                                                  
                                                                              
    * For the Chinese name, please refer to the press announcements today.