10:14     KAMBOAT<00318> - Announcement & Resumption (10)                     

    consider making an unconditional general offer to                         
    acquire all the Shares other than those already owned                     
    by it and by Capital Beijing. Vongroup Holdings has                       
    undertaken to its financial adviser that it will not                      
    waive the Whitewash Waiver condition and extend the                       
    general offer unless its financial adviser is                             
    satisfied that it has sufficient resources to satisfy                     
    full acceptance of the general offer.                                     
                                                                              
    If the Whitewash Waiver is approved by the Independent                    
    Shareholders, the shareholding of Vongroup Holdings                       
    in the Company will be approximately 93.27%                               
    immediately after Completion.                                             
                                                                              
    9.      CONTINUED LISTING OF THE COMPANY ON THE STOCK                     
    EXCHANGE                                                                  
    It is the intention of the Subscribers to maintain                        
    the listing of the Company on the Stock Exchange after                    
    Completion. Accordingly, the present and future                           
    Directors and the Company will jointly and severally                      
    undertake to the Stock Exchange to take appropriate                       
    steps to ensure that sufficient public float exists                       
    for the Shares.                                                           
                                                                              
    The Stock Exchange has stated that it will closely                        
    monitor trading in the Shares if less than 25% of the                     
    Shares are held by the public. The Stock Exchange will                    
    also closely monitor all future acquisitions or                           
    disposals of assets by the Company. Unless potential                      
    placements by the Company or by Vongroup Holdings take                    
    place by the time of Completion, the future directors                     
    of the Company are aware of the Company's public float                    
    falling below 25% immediately after Completion and                        
    will address this issue accordingly, including by                         
    means of potential placements by the Company or by                        
    Vongroup Holdings. However no negotiation has taken                       
    place and no agreement has been reached on potential                      
    placements. The Company and Vongroup Holdings have                        
    undertaken to the Stock Exchange to take appropriate                      
    steps to ensure that not less than 25% of the shares                      
    of the Company then in issue will be held in public                       
    hands upon Completion. The Company shall make further                     
    announcements in relation to any action taken in                          
    respect of the public float of the Shares to ensure                       
    strict compliance with the Listing Rules. The Stock                       
    Exchange has the discretion to require the Company                        
    to issue a circular to its shareholders irrespective                      
    of the size of a proposed transaction, particularly                       
    when such proposed transaction represents a departure                     
    from the principal activities of the Company. The                         
    Stock Exchange also has the power to aggregate a                          
    series of transactions and any such transaction may                       
    result in the Company being treated as if it were a                       
    new listing applicant. If the Stock Exchange believes                     
    that:                                                                     
                                                                              
    *       a false market exists or may exist in the Shares;                 
    or                                                                        
                                                                              
    *       there are too few Shares in public hands to maintain              
    an orderly market,                                                        
                                                                              
    it will consider exercising its discretion to suspend                     
    trading in the Shares.                                                    
                                                                              
    10.     SUSPENSION AND RESUMPTION OF TRADING IN THE                       
    SECURITIES                                                                
    Trading in the Shares was suspended at the request                        
    of the Company with effect from 9:30 a.m. on 7 February                   
    2005. An application has been made to the Stock                           
    Exchange for resumption of trading of the Shares with                     
    effect from 9:30 a.m. on 22 March 2005.