10:08     MIDLAND REALTY<01200>-Announcement&Resumption of Trading(6)         

    been reduced as a result of the completion of the                         
    subscription of new shares in EVI as announced by the                     
    Company and EVI on 26 January 2005 and will be further                    
    reduced by the proposed dividend to be declared by                        
    the Company on 15 April 2005. The Directors confirm                       
    that at present, the Company has no particular                            
    investment plan.                                                          
                                                                              
    The Directors consider the Placing Price and the                          
    Subscription Price, which were arrived at after arm's                     
    length negotiation between the Vendor, the Company                        
    and the Placing Agent, to be fair and reasonable and                      
    in the interests of the Company and its shareholders                      
    as a whole.                                                               
                                                                              
    EFFECTS ON SHAREHOLDING                                                   
    The effects of the Placing and the Subscription on                        
    the shareholding of the Company are as follows:-                          
                                                                              
    Shareholding before     Shareholding after                                
            Shareholding after                                                
    the Placing     the Placing but the Placing                               
    and the Subscription    before the Subscription                           
            and the Subscription                                              
    No. of  Shares          Approximate             No. of  Shares            
            Approximate             No. of Shares           Approximate       
                    %                               %                         
         %                                                                    
                                                                              
    The Vendor, its associates                                                
      and parties acting in                                                   
      concert with it (if any)      146,740,000             20.83             
            98,690,719              14.01           137,130,144               
    18.46                                                                     
    Directors:                                                                
      Cheung Kam Shing      321,000         0.05            321,000           
            0.05            321,000         0.04                              
      Lam Fung Fong 800,000         0.11            800,000                   
            0.11            800,000         0.11                              
    Public  556,529,000             79.01           556,529,000               
    79.01                                                                     
            556,529,000             74.92                                     
    Placees and/or the                                                        
      Placing Agent N/A             N/A             48,049,281                
            6.82            48,049,281              6.47                      
                                                                              
    Total   704,390,000             100.00          704,390,000               
            100.00          742,829,425             100.00                    
                                                                              
    FUND-RAISING EXERCISE BY THE COMPANY DURING THE PAST                      
    12 MONTHS                                                                 
    The Directors confirm that the Company has not                            
    conducted any fund-raising exercise during the past                       
    12 months.                                                                
                                                                              
    GENERAL                                                                   
    Application will be made to the Stock Exchange for                        
    the granting of the listing of, and permission to deal                    
    in, the Subscription Shares.                                              
                                                                              
    Trading in the Shares was suspended from 9:30 a.m.                        
    on 22 March 2005 at the request of the Company pending                    
    the issue of this announcement and application has                        
    been made to the Stock Exchange for the resumption                        
    of trading in the Shares with effect from 9:30 a.m.                       
    on 23 March 2005.                                                         
                                                                              
    DEFINITIONS                                                               
    "associate(s)"  has the meaning ascribed thereto                          
    under the Listing Rules                                                   
                                                                              
    "Board" the board of Directors of the Company                             
                                                                              
    "Company"       Midland Realty (Holdings) Limited, a                      
    company incorporated in Bermuda with limited                              
    liability, the shares of which are listed on the Stock                    
    Exchange