08:46 CKLIFE SCIENCES<08222> - 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. CK Life Sciences Int'l., (Holdings) Inc. (Incorporated in the Cayman Islands with limited liability) (Stock Code: 8222) CONNECTED TRANSACTION The Board announces that on 18 March 2005, the AquaTower Loan Agreement was made between a wholly-owned subsidiary of the Company and AquaTower for the provision of shareholder's loan to AquaTower in the amount of up to A$5,225,635.02 (approximately HK$31,353,810). AquaTower is owned as to 51% by the Company indirectly and as to 49% by CKI indirectly. An indirect wholly-owned subsidiary of CKI had also entered into a loan agreement with AquaTower on equivalent terms for providing proportional funding to AquaTower in accordance with its shareholding interest in AquaTower. AquaTower is a non wholly-owned subsidiary of the Company and hence a connected person of the Company under the GEM Listing Rules. As the granting of the shareholder's loan by the subsidiary of the Company to AquaTower constitutes a connected transaction for the Company under the GEM Listing Rules and the applicable percentage ratio is less than 2.5%, the transaction is only subject to reporting and announcement requirements and is exempt from independent shareholders' approval requirement pursuant to Rule 20.66 (2) of the GEM Listing Rules. By Order of the Board CK Life Sciences Int'l., (Holdings) Inc. Eirene Yeung Company Secretary Hong Kong, 18 March 2005 As at the date of this announcement, the Executive Directors of the Company are Mr. Li Tzar Kuoi, Victor (Chairman), Mr. Kam Hing Lam, Mr. Ip Tak Chuen, Edmond, Mr. Yu Ying Choi, Alan Abel, Dr. Pang Shiu Fun, Dr. Chu Kee Hung and Mr. Lam Hing Chau, Leon; and the Non-executive Directors are Mr. Kwan Chiu Yin, Robert (Independent Non-executive Director), Mr. Peter Peace Tulloch, Professor Wong Yue-chim, Richard (Independent Non-executive Director), Mrs. Kwok Eva Lee (Independent Non-executive Director) and Mr. Colin Stevens Russel (Independent Non-executive Director). This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and (iii) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable. This announcement will remain on the "Latest Company Announcements" page of the GEM website at www.hkgem.com for at least 7 days from the date of its posting and on the website of the Company at www.ck-lifesciences.com. The above announcement is a summary only. For the full version of this announcement, please refer to the `Latest Company Announcements' page on the GEM website at www.hkgem.com.