09:58     SUN INNOVATION<00547> - Announcement (2)                            

    ELC   390,900,000      6.11      1,190,900,000      14.02                 
    1,190,900,000      13.17                                                  
    Station Note 1   447,906,666      7.00      1,347,906,666      15.87      
          1,437,906,666      15.91                                            
    T&C Capital Limited Note 2   800,000,000      12.51      1,200,000,000    
          14.13      1,200,000,000      13.28                                 
    Other option holders   -      0      -      0      455,000,000      5.03  
                                                                              
    Public Shareholders   4,755,948,973      74.38      4,755,948,973         
    55.98      4,755,948,973      52.61                                       
                                                                              
            ---------------------------------------------------------------   
    Total   6,394,755,639      100      8,494,755,639      100                
    9,039,755,639      100                                                    
            ===============================================================   
                                                                              
    Note 1:   Station and its beneficial owner, Mr. Leung, held in aggregate  
     447,906,666 shares, 1,700,000,000 Convertible Preference Shares          
    (including 800,000,000 Convertible Preference Shares to be disposed to    
    ELC) and 90,000,000 options of the Company.                               
                                                                              
    Note 2:   It acquired 1,200,000,000 CP Shares from Station in December    
    2004 and January 2005 and converted 800,000,000 CP Shares into Ordinary   
    Shares in January 2005.                                                   
                                                                              
    Note 3:   The outstanding options exclude options granted under the       
    employee share option schemes.                                            
                                                                              
    As the date of this announcement, Mr. Michele Matsuda, Mr. Leung To       
    Kwong, Valiant and Mr. Cheung Chi Fai, Frank are the executive directors  
     of the Company and Mr. Zhou Ji, Jason, Mr. Keijiro Hasegawa and          
    Professor Chen Tien-yiu Theodore are the independent non-executive        
    directors of the Company.                                                 
                                                                              
    By Order of the Board                                                     
    Sun Innovation Holdings Limited                                           
    Michele Matsuda                                                           
    Chairman                                                                  
                                                                              
    Hong Kong, 22nd March, 2005