09:29     SNP LEEFUNG<00623> - Announcement (7)                               

    "Shares"  ordinary shares of HK$1.00 each in the share capital of the     
    Company                                                                   
                                                                              
    "Shareholders"  holders of the Shares                                     
                                                                              
    "Shareholders' Loan"  the amount owing by Yau Yue to its shareholders     
    as at the date of Completion, the aggregate amount of which is            
    approximately HK$20.2 million as at 18 March 2005                         
                                                                              
    "Stock Exchange"  The Stock Exchange of Hong Kong Limited                 
                                                                              
    "Vendors"  collectively Keep Happy, Winter Stars and Ms. Zhang            
                                                                              
    "Warrantors"  Mr. Kwong Chi Keung and Mr. Kwong Chi Kin                   
                                                                              
    "Winter Stars"  Winter Stars Enterprises Limited, a company               
    incorporated in the British Virgin Islands with limited liability and     
    the entire issued share capital of which is beneficially owned by Mr.     
    Kwong Chi Keung                                                           
                                                                              
    "Yau Yue"  Yau Yue Paper Products Limited, a company incorporated in      
    Hong Kong with limited liability                                          
                                                                              
    By order of the Board                                                     
    Yeo Chee Tong                                                             
    Executive Director and Chief Executive Officer                            
                                                                              
    Hong Kong, 18 March 2005                                                  
                                                                              
    As at the date of this announcement, the Board comprises two executive    
    Directors, being Mr. Yeo Chee Tong and Mr. Yang Sze Chen, Peter, one      
    non-executive Director, being Mr. Tay Siew Choon, and three independent   
    non-executive Directors, being Mr. Cheng Wai Wing, Edmund, Mr. John       
    Robert Walter and Mr. Lai Ming, Joseph.                                   
                                                                              
    *  for identification purposes only