10:19     HI SUN GROUP<00818> - Announcement (15)                             

    the Convertible Preference Shares by Turbo Speed                          
                                                                              
    "associate"     has the meaning ascribed to it under the                  
    Listing Rules                                                             
                                                                              
    "Beijing Hi-Sunsray"    #                                                 
    (Beijing Hi-Sunsray Information Technology Limited),                      
    a wholly foreign owned enterprise incorporated in the                     
    PRC with limited liability and a wholly owned                             
    subsidiary of Turbo Speed                                                 
                                                                              
    "Benchmark Price"       US$0.58 (approximately HK$4.5),                   
    being the price at which each Convertible Preference                      
    Share is to be issued pursuant to the Subscription                        
    Agreement                                                                 
                                                                              
    "Board" the board of Directors                                            
                                                                              
    "Business Day"  a day (other than a Saturday or                           
    Sunday) on which banks in Hong Kong are open for                          
    business                                                                  
                                                                              
    "China Mobile"  China Mobile Communications                               
    Corporation                                                               
                                                                              
    "Circular"      the circular of the Company dated 3                       
    December 2004 in relation to the issue of the                             
    Convertible Preference Shares by Turbo Speed                              
                                                                              
    "Company"       Hi Sun Group Limited, a company                           
    incorporated in Bermuda with limited liability and                        
    the shares of which are listed on the Stock Exchange                      
                                                                              
    "Completion"    completion of the Subscription                            
    Agreement                                                                 
                                                                              
    "Comtel Development"    Comtel Development Limited, a                     
    company incorporated in the British Virgin Islands                        
                                                                              
    "Conversion"    the exercise of the conversion rights                     
    under the Subscription Agreement to convert the                           
    Convertible Preference Shares into the Shares at an                       
    initial conversion price of HK$1.2 per share, subject                     
    to adjustments                                                            
                                                                              
    "Conversion Shares"     Shares falling to be issued upon                  
    the Conversion                                                            
                                                                              
    "Convertible Preference         6,837,608 new convertible                 
    preference shares of US$0.10 each in the share                            
      Shares"       capital of Turbo Speed to be issued                       
    pursuant to the Subscription Agreement                                    
                                                                              
    "Directors"     the directors of the Company                              
                                                                              
    "Employee"      any bona fide full-time employee of Turbo                 
    Speed or any of its subsidiaries, who has attained                        
    21 years of age, including any director of Turbo Speed                    
    or any of its subsidiary (but excluding any person                        
    who is a Director) provided always that such term                         
    shall exclude any person who has tendered his                             
    resignation or who at the relevant time is working                        
    out his period of notice pursuant to his employment                       
    contract or otherwise                                                     
                                                                              
    "Employee Incentive Scheme"     the employee incentive                    
    scheme proposed to be adopted by Turbo Speed                              
                                                                              
    "General Mandate"       the general mandate granted to                    
    the Board at the annual general meeting of the Company                    
    held on 28 May 2004