09:55     BESTWAY INT'L<00718> - Announcement (1)                             

    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.                                                     
                                                                              
    BESTWAY INTERNATIONAL HOLDINGS LIMITED                                    
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 718)                                                         
                                                                              
    ANNOUNCEMENT                                                              
    DISCLOSEABLE TRANSACTION                                                  
    DISPOSAL OF 51% EQUITY INTERESTS IN                                       
    BEIJING WILLIAM SHUN PLASTIC PRODUCTS COMPANY                             
    LIMITED*                                                                  
                                                                              
    SUMMARY                                                                   
    The Board wishes to announce that, the Vendor, a                          
    wholly owned subsidiary of the Company, has on 18                         
    March 2005 entered into a Share Transfer Agreement                        
    with the Purchaser under which the Vendor shall sell                      
    and the Purchaser shall purchase 51% equity interests                     
    in Beijing William Shun for a consideration of                            
    HK$2,000,000 in cash. In view of the Share Transfer                       
    Agreement, the same parties have also entered into                        
    an agreement on the same day under which the Vendor                       
    shall transfer to the Purchaser a loan in the amount                      
    of RMB25,265,375.18 (equivalent to approximately                          
    HK$23,612,500.17) owing by Beijing William Shun to                        
    the Vendor at no consideration.                                           
                                                                              
    The Disposal constitutes a discloseable transaction                       
    for the Company under Chapter 14 of the Listing Rules.                    
    A circular containing, among other things, further                        
    details of the Disposal will be despatched to the                         
    shareholders of the Company within 21 days after the                      
    publication of this announcement.                                         
                                                                              
    THE SHARE TRANSFER AGREEMENT                                              
    Date:   18 March 2005                                                     
                                                                              
    Parties:        Vendor: Rich Ocean Limited, a company                     
    incorporated in Hong Kong with limited liability and                      
    a wholly-owned subsidiary of the Company                                  
                                                                              
    Purchaser:      * (Beijing Peng Shi                                       
    Wei Ye Trading Company Limited), a company                                
    established under the laws of the PRC with limited                        
    liability                                                                 
                                                                              
    To the best of the knowledge, information and belief                      
    of the Board, and having made all reasonable enquiries,                   
    the Purchaser and its ultimate beneficial owner are                       
    independent third parties and not connected persons                       
    of the Company under the Listing Rules.                                   
                                                                              
    Interests to be disposed of:                                              
    51% equity interests in Beijing William Shun.                             
                                                                              
    Beijing William Shun is a sino-foreign equity joint                       
    venture company established by the Vendor and the PRC                     
    Party in 1992 which is owned as to 51% by the Vendor                      
    and 49% by the PRC Party. Under another share transfer                    
    agreement dated 13 December 2004 ("Previous                               
    Agreement"), the Purchaser had also agreed to                             
    purchase from the PRC Party its 49% equity interests                      
    in Beijing William Shun, but, as far as the Company                       
    is aware, the Previous Agreement has not been                             
    completed as the Previous Agreement has not been filed                    
    with the relevant government