09:35     SHOUGANG GRAND<00730> - Announcement (5)                            

    "Shareholders"   holders of Shares                                        
                                                                              
    "Shenzhen Jiayinda"    Shenzhen                                           
    Jiayinda Investment Company Limited, a limited                            
    liability company incorporated in the PRC, a 20%                          
    shareholder of South China Leasing and an independent                     
    third party not connected with the Company or any of                      
    its subsidiaries or any of their respective directors,                    
    chief executive and substantial shareholders or any                       
    associates of any of them                                                 
                                                                              
    "South China Leasing"   South China International                         
    Leasing Company Limited, a Sino-foreign equity joint                      
    venture established in the PRC, which is 60% owned                        
    by Jeckman Holdings                                                       
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong                        
    Limited                                                                   
                                                                              
    "US$"   United States dollar, the lawful currency of                      
    the United States of America                                              
                                                                              
    "%"   per cent.                                                           
                                                                              
    For the purpose of this announcement, US$ has been                        
    translated into HK$ at the exchange rate of US$1.00                       
    = HK$7.80 and RMB has been translated into HK$ at the                     
    exchange rate of RMB1.00 = HK$0.943.                                      
                                                                              
    By Order of the Board of                                                  
    SHOUGANG CONCORD GRAND (GROUP) LIMITED                                    
    Cao Zhong                                                                 
    Vice Chairman                                                             
                                                                              
    Hong Kong, 17 March 2005                                                  
                                                                              
    As at the date of this announcement, the Directors                        
    are Wang Qinghai (Chairman), Cao Zhong (Vice Chairman),                   
    Chen Zheng (Executive Director), Wang Tian (Executive                     
    Director), Cheng Xiaoyu (Executive Director), Leung                       
    Shun Sang, Tony (Non-executive Director), Choy Hok                        
    Man, Constance (Non-executive Director), Tam King                         
    Ching, Kenny (Independent non-executive Director),                        
    Hui Hung, Stephen (Independent non-executive                              
    Director) and Zhou Jianhong (Independent                                  
    non-executive Director).