10:13     HI SUN GROUP<00818> - Announcement (4)                              

    2004 and 10 November 2004 respectively, are currently                     
    held in jointly controlled bank accounts and will be                      
    released to Turbo Speed on Completion.                                    
                                                                              
    Principal terms of the  :       *       The Convertible                   
    Preference Shares will rank in priority to any other                      
    class of                                                                  
      Convertible                   shares in the capital of Turbo            
    Speed to the return of an amount equal to the                             
      Preference Shares                     unpaid Preferred Dividend         
    (as defined below) (if any) and the aggregate initial                     
    subscription price of the Convertible Preference                          
    Shares and thereafter with no entitlement to the                          
    return of capital on winding up of Turbo Speed or                         
    otherwise.                                                                
                                                                              
    *       Holders of the Convertible Preference Shares                      
    together will be entitled to a fixed cumulative                           
    preferred dividend equal to HK$624,000 (the                               
    "Preferred Dividend") (being the HK dollar equivalent                     
    of 2% of the initial subscription amounts) for each                       
    financial year of Turbo Speed, assuming no conversion                     
    of those Convertible Preference Shares.                                   
                                                                              
    *       Holders of the Convertible Preference Shares shall                
    be entitled to participate in part of dividends (the                      
    "Ordinary Dividend") declared and payable by Turbo                        
    Speed (after the Preferred Dividend), calculated by                       
    applying an agreed formula so that the aggregate of                       
    the Preferred Dividend and Ordinary Dividend to the                       
    holders of the Convertible Preference Shares will be                      
    equal initially to 16% (on an annual basis) of the                        
    total dividends payable by Turbo Speed, assuming no                       
    conversion of those Convertible Preference Shares                         
    (Note).                                                                   
                                                                              
    Note:   In the event when there has been a Conversion                     
    of the Convertible Preference Shares, the initial                         
    percentage of 16% will be adjusted downward to the                        
    percentage of the total number of the Convertible                         
    Preference Shares after the Conversion divided by the                     
    total number of the Turbo Speed Shares then in issue.                     
                                                                              
    *       Holders of the Convertible Preference Shares will                 
    be entitled to convert at a minimum value of                              
    US$500,000 (approximately HK$3.9 million) or                              
    integral multiples thereof at any time from the date                      
    of Completion for a period of 24 months into the Shares                   
    at a conversion price of HK$1.2 per Share, subject                        
    to adjustment as set out below:-                                          
                                                                              
    1.      on consolidation or sub-division of the Shares;                   
                                                                              
    2.      if, at any time prior to 31 December 2005, the                    
    Company shall issue any shares (otherwise than                            
    pursuant to the exercise of conversion rights under                       
    the Convertible Preference Shares and/or                                  
    subscription rights attached to options or other                          
    securities already in issue before the date of the                        
    Subscription Agreement) at a price ("Alternative                          
    Price") which is lower than the then prevailing                           
    conversion price of the Convertible Preference Shares,                    
    then any holder of the Convertible Preference Shares                      
    shall be entitled to convert the Convertible                              
    Preference Shares into the Shares at the Alternative                      
    Price for a period of 20 Business Days after the holder                   
    of the Convertible Preference Shares is notified of                       
    the issue (Note 1); and                                                   
                                                                              
    3.      on issues of Shares by way of bonus or rights if                  
    the issue price is less than 90% of the market price                      
    of the Shares at the date of the announcement of the                      
    terms of the offer, to take into account the                              
                                                                              
    Market participants are requested to note that dealings in the 2005       
    European Style (Cash Settlement) Call Warrants relating to existing       
    issued ordinary H shares of RMB1.00 each of Ping An Insurance (Group)     
    Company of China, Ltd. issued by SGA Societe Generale Acceptance N.V.     
    (stock code: 4529) will cease after the close of business on Monday,      
    21/03/2005 and listing of which will be withdrawn after the close of      
    business on Tuesday, 29/03/2005.