08:47     NW INDUSTRY<08258> - Announcement (2)                               

                                                                              
    The Directors will assign staff of the Company to take up the             
    responsibilities of Mr. Tong temporarily until the replacement is         
    recruited.  Mr. Wang Zheng, an executive Director, will remain as one     
    of the authorised representatives of the Company and will continue        
    to discharge his responsibilities as such.  The Board does not expect     
    that the resignation of Mr. Tong would have any negative impact on        
    the Company in any material respect.                                      
                                                                              
    By order of the Board                                                     
    Shaanxi Northwest New Technology                                          
    Industry Company Limited*                                                 
    Wang Cong                                                                 
    Chairman                                                                  
                                                                              
    Hong Kong, 18 March 2005                                                  
                                                                              
    As at the date of this announcement, the Board is comprised:              
                                                                              
    Executive directors:                                                      
    Mr. Wang Cong, Mr. Wang Zheng, Mr. Guo Quibao, Ms. Zheng Rongfang and     
    Mr. Wang Feng;                                                            
                                                                              
    Non-executive directors:                                                  
    Mr. Guo Bin; and                                                          
                                                                              
    Independent non-executive directors:                                      
    Mr. Hu Yangxiong, Mr. Li Gangjian and Mr. Su Yuanquan                     
                                                                              
    This announcement, for which the directors of the Company                 
    collectively and individually accept full responsibility, includes        
    particulars given in compliance with the Rules Governing the Listing      
    of Securities on the Growth Enterprise Market of The Stock Exchange       
    of Hong Kong Limited for the purpose of giving information with regard    
    to the Company.  The directors of the Company, 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 on the GEM website for at least 7 days from the day of its posting.  
                                                                              
    * For identification purpose only