09:57     FE PHARMA TECH<00399> - Announcement                                

    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.                                        
                                                                              
                                                                              
    FAR EAST PHARMACEUTICAL TECHNOLOGY COMPANY LIMITED                        
    (Incorporated in the Cayman Islands with limited liability)               
    (Provisional Liquidators Appointed)                                       
    (Stock Code: 399)                                                         
                                                                              
    Petition for Winding Up                                                   
    Appointment of Provisional Liquidators                                    
    Adjournment of Hearing of Winding-Up Petition                             
                                                                              
                                                                              
    (1)     On 15 September 2004 a petition to wind up the Company was        
    presented by Standard Chartered Bank (Hong Kong) Limited in the High Court
    of Hong Kong.                                                             
    (2)     Messrs. Lai Kar Yan Derek and Darach E. Haughey of Deloitte Touche
    Tohmatsu were appointed joint and several provisional liquidators of the  
    Company by the High Court of Hong Kong on 22 September 2004.              
    (3)     On 25 October 2004 the hearing of the winding-up petition against 
    the Company was adjourned to 28 February 2005 on which day the adjourned  
    hearing of the winding-up petition was further adjourned to 27 June 2005. 
    Trading in the shares of the Company has been suspended since 17 June 2004
    and will remain suspended until further notice.                           
                                                                              
    Far East Pharmaceutical Technology Company Limited (Provisional           
    Liquidators Appointed) (the "Company") announces that:                    
    (1)     A petition to wind up the Company (the "Petition") was presented  
    by Standard Chartered Bank (Hong Kong) Limited (the "Petitioner") on 15   
    September 2004 as the Company could not meet demands made against the     
    Company for the repayment of outstanding principal and unpaid interest in 
    relation to the Syndicated Bank Loan, totaling US$57,764,588.23 as at 9   
    September 2004, referred to in the Company's announcement dated 20        
    September 2004.                                                           
    (2)     Messrs Lai Kar Yan Derek and Darach E. Haughey of Deloitte Touche 
    Tohmatsu were appointed joint and several provisional liquidators of the  
    Company pursuant to an order dated 22 September 2004 made by the          
    Honourable Madam Justice Kwan (the "Court Order").                        
    The Provisional Liquidators are empowered, inter alia, to take possession 
    of the property of the Company and its subsidiaries, to consider and if   
    thought to be in the interests of creditors and shareholders of the       
    Company, to draft, with a view to implementing, a scheme of arrangement to
    be entered into between the Company and its creditors and to do all things
    necessary to facilitate such actions.                                     
    (3)     The hearing on 25 October 2004 of the winding-up petition         
    presented against the Company by Standard Chartered Bank (Hong Kong)      
    Limited was ordered by the High Court of Hong Kong to be adjourned to 28  
    February 2005.                                                            
    The adjourned hearing of the winding-up petition against the Company held 
    on 28 February 2005 was ordered by the High Court of Hong Kong to be      
    further adjourned to 27 June 2005.                                        
    The Company will keep the public informed by making further announcements 
    as appropriate.                                                           
    Please note that this announcement is only released on the AMS/3 Trading  
    Terminal and the website of The Stock Exchange of Hong Kong Limited and   
    has not been published in the newspapers as required by the Listing Rules 
    due to the liquidity problem of the Company.                              
    As at the date of this announcement, the Board of Directors of the Company
    consists of two independent non-executive directors, namely Mr. Chiu Koon 
    Shou, Victor, and Mr. Lo Wah Wai, Lowell.                                 
                                                                              
    Trading in the shares of the Company has been suspended since 17 June 2004
    and will remain suspended until further notice.                           
                                                                              
    For and on behalf of                                                      
    Far East Pharmaceutical Technology Company Limited                        
    (Provisional Liquidators Appointed)                                       
    Darach E. Haughey                                                         
    Joint and Several Provisional Liquidator                                  
                                                                              
    Hong Kong, 17 March 2005