09:31     POLY INV HOLD<00263> - 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.                   
                                                                              
    Poly Investments Holdings Limited                                         
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 263)                                                         
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The hearing for the Petition to be heard on 21st March, 2005 before the   
    Companies Judge of the High Court has been vacated and the same has been  
    adjourned until 9th May, 2005.                                            
                                                                              
    The Company will not apply for suspension of trading of the Shares on     
    21st March, 2005. The Company will apply for suspension of trading of     
    the Shares from 9:30 a.m. on 9th May, 2005 pending the release of an      
    announcement in respect of the hearing of the Petition on that date.      
                                                                              
    Shareholders of the Company and potential investors are advised to        
    exercise extreme caution when dealing in the Shares.                      
                                                                              
    Reference is made to the announcements ("Announcements") made by Poly     
    Investments Holdings Limited (the "Company") on 17th December, 2004,      
    16th February, 2005 and 21st February, 2005 respectively. Unless          
    otherwise stated, terms defined in the Announcements shall have the same  
    meanings when used herein.                                                
                                                                              
    As disclosed in the announcement of the Company dated 21st February,      
    2005, the hearing of the Petition has been adjourned to be heard on 21st  
    March, 2005 before the Companies Judge of the High Court. As further      
    time was required by Asian Power, being the petitioner of the Petition,   
    to file and serve evidence in reply, at the request of Asian Power, the   
    Company and Asian Power had agreed to, among other things, extend the     
    time limit for Asian Power to file and serve evidence in reply to 23rd    
    March, 2005, vacate the hearing of the Petition on 21st March, 2005 and   
    to adjourn the same until 9th May, 2005 (the "Consent Extension"). The    
    High Court made an order in terms of the Consent Extension on 17th        
    March, 2005 and thereby adjourned the hearing of the Petition to 9th      
    May, 2005.                                                                
                                                                              
    In light of the aforesaid, the Company will not apply for suspension of   
    trading of the Shares on 21st March, 2005. The Company will apply for     
    suspension of trading of the Shares from 9:30 a.m. on 9th May, 2005       
    pending the release of an announcement in respect of the hearing of the   
    Petition on that date. Further announcement will be made by the Company   
    as and when appropriate.                                                  
                                                                              
    Shareholders of the Company and potential investors are advised to        
    exercise extreme caution when dealing in the Shares.                      
                                                                              
    By Order of the Board                                                     
    Sue Ka Lok                                                                
    Executive Director & Company Secretary                                    
                                                                              
    As at the date of this announcement, the directors of the Company         
    comprises four Executive Directors, namely Mr. Suen Cho Hung, Paul        
    (Chairman), Mr. Li Zhicai (Managing Director), Mr. Cao Jian An and Mr.    
    Sue Ka Lok; and three Independent Non-executive Directors, namely Mr.     
    Sun Ka Ziang, Henry, Mr. Kwok Ming Fai and Dr. Wong Yun Kuen.             
                                                                              
    Hong Kong, 18th March, 2005