09:43     WEIQIAO TEXTILE<02698> - Announcement (5)                           

    `SWCF'                          (Shandong Weiqiao Chuangye                
                                   Finance Company Limited), a                
                                   limited liability company to               
                                   be incorporated in the PRC,                
                                   subject to the obtaining of                
                                   the relevant approval from                 
                                   China Banking Regulatory                   
                                   Commission and registration                
                                   with the local AIC.                        
    `Weihai Weiqiao'               (Weihai Weiqiao Textile                    
                                   Company Limited), a limited                
                                   liability company established              
                                   and owned as to 87.2% by the               
                                   Company and 12.8% by  (Weihai              
                                   Civil Aviation Industrial                  
                                   Company Limited).  (Weihai                 
                                   Civil Aviation Industrial                  
                                   Company Limited) is not a                  
                                   connected person of the                    
                                   Company (as defined in the                 
                                   Listing Rules)                             
    `Weilian Print'                 (Shandong Weilian Print &                 
                                   Dyeing Company Limited), a                 
                                   sino-foreign equity joint                  
                                   venture enterprise                         
                                   established in the PRC and                 
                                   owned as to 65% by Holding                 
                                   Company and 35% by  (Lianye                
                                   Baoye Company Limited).                    
                                   (Lianye Baoye Company                      
                                   Limited) is not a connected                
                                   person of the Company (as                  
                                   defined in the Listing Rules)              
    `Weiqiao Dyeing'                (Shandong Weiqiao Dyeing                  
                                   Company Limited), a                        
                                   sino-foreign equity joint                  
                                   venture enterprise                         
                                   established in the PRC and                 
                                   owned as to 60% by Holding                 
                                   Company and 40% by  (Baohenli              
                                   Investment Company Limited).               
                                   (Baohenli Investment Company               
                                   Limited) is not a connected                
                                   person of the Company (as                  
                                   defined in the Listing                     
                                   Rules).                                    
                                                                              
                                                                              
                                                                              
                                   On behalf of the board of                  
                                   directors of Weiqiao Textile               
                                   Company Limited Zhao Suwen                 
                                   Executive Director and                     
                                   Company                                    
                                   Secretary                                  
                                                                              
                                                                              
                                                                              
    Hong Kong, 17 March 2005                                                  
                                                                              
    Notes:                                                                    
    1. As at the date of this announcement, the board of Directors of the     
    Company comprises of Mr. Zhang Bo, Ms. Zhang Hongxia, Mr. Qi Xingli,      
    Ms. Zhao Suwen as executive directors, Mr. Zhang Shiping and Mr. Wang     
    Zhaoting as non-executive directors and Mr. Wang Naixin, Mr. Xu           
    Wenying and Mr. George Chan Wing Yau as independent non-executive         
    directors.                                                                
                                                                              
    2. The conversion of RMB into HK$ is based on the exchange rate of        
    RMB1.06=HK$1.00.                                                          
                                                                              
    3. The name of  (Shandong Weiqiao Chuangye Finance Company) is subject    
    to approval from the relevant local AIC.                                  
                                                                              
    * The Company is registered in Hong Kong as an oversea company            
    under the English name `Weiqiao Textile Company Limited'.