09:54     CITIC 21CN<00241> - 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.                                                     
                                                                              
    CITIC 21CN COMPANY LIMITED                                                
    (incorporated in Bermuda with limited liability)                          
    (Stock code: 241)                                                         
                                                                              
    RESULTS OF RIGHTS ISSUE OF                                                
    550,697,664 WARRANTS                                                      
    AT HK$0.10 PER WARRANT PAYABLE                                            
    IN FULL UPON ACCEPTANCE                                                   
    ON THE BASIS OF ONE WARRANT FOR EVERY SIX SHARES                          
    HELD ON THE RECORD DATE                                                   
                                                                              
    Financial adviser to the Company                                          
                                                                              
    Goldbond Capital (Asia) Limited                                           
                                                                              
    Underwriter                                                               
                                                                              
    Goldbond Securities Limited                                               
                                                                              
    The Directors are pleased to announce that the Rights                     
    Issue became unconditional at 4:00 p.m. on Wednesday,                     
    16 March 2005.                                                            
                                                                              
    As at 4:00 p.m. on Monday, 14 March 2005, the Company                     
    received 584 valid acceptances for 547,949,638                            
    Warrants provisionally allotted under the Rights                          
    Issue (representing approximately 99.5% of the total                      
    number of Warrants available for subscription under                       
    the Rights Issue) and 586 valid excess applications                       
    for 5,417,533,507 Warrants (representing                                  
    approximately 983.8% of the total number of Warrants                      
    available for subscription under the Rights Issue),                       
    amounting to 5,965,483,145 Warrants in aggregate.                         
    Accordingly, the Rights Issue was approximately                           
    983.3% oversubscribed.                                                    
                                                                              
    It is expected that certificates in respect of the                        
    fully-paid Warrants and refund cheques in respect of                      
    wholly or partially unsuccessful applications for                         
    excess Warrants will be despatched on Friday, 18 March                    
    2005 by ordinary post to the Qualifying Shareholders                      
    at their own risk. Dealings in the fully-paid Warrants                    
    on the Stock Exchange are expected to commence on                         
    Tuesday, 22 March 2005.                                                   
                                                                              
    Reference is made to the prospectus of the Company                        
    dated 25 February 2005 (the "Prospectus") in respect                      
    of the Rights Issue. Unless otherwise stated,                             
    capitalised terms used in this announcement shall                         
    have the same meanings as defined in the Prospectus.                      
                                                                              
    Results of the Rights Issue                                               
    The Directors are pleased to announce that as at 4:00                     
    p.m. on Monday, 14 March 2005, being the Latest                           
    Acceptance Date, the Company received 584 valid                           
    acceptances for 547,949,638 Warrants provisionally                        
    allotted under the Rights Issue (representing                             
    approximately 99.5% of the total number of Warrants                       
    available for subscription under the Rights Issue)                        
    and 586 valid excess applications for 5,417,533,507                       
    Warrants (representing approximately 983.8% of the                        
    total number of Warrants available for subscription                       
    under the Rights Issue), amounting to 5,965,483,145                       
    Warrants in aggregate. Accordingly, the Rights Issue                      
    was approximately 983.3% oversubscribed.