09:46     KARCE INTL HOLD<01159> - 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.                                                             
                                                                              
    Karce International Holdings Company Limited                              
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1159)                                                        
                                                                              
    PROPOSED MAJOR TRANSACTION                                                
    ASSIGNMENT OF LOAN AND ADVANCES AND SUBSCRIPTION OF SECURITIES            
                                                                              
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    Reference is made to the announcement of the Company dated 7              
    March, 2005 regarding the Transactions. Under the Listing Rules,          
    the Company is required to despatch a circular in relation to             
    the Transactions to the Shareholders on or before 28 March, 2005.         
    The Company wishes to announce that the despatch of the circular          
    will be delayed to a date falling on or before 18 April, 2005.            
                                                                              
    Reference is made to the announcement of the Company dated 7              
    March, 2005 regarding the Transactions ("Announcement"). Unless           
    otherwise specified, all capitalized terms used herein shall              
    have the same meanings as defined in the Announcement.                    
                                                                              
    In accordance with Rules 14.38 and 14.40 of the Listing Rules,            
    the Company is required to despatch a circular regarding the              
    Transactions ("Circular") to the Shareholders within 21 days              
    after publication of the Announcement. As additional time is              
    required to prepare the accountants' report of Ascalade Inc.              
    to be incorporated in the Circular, the despatch of the Circular          
    will be delayed from 28 March, 2005 to a date falling on or before        
    18 April, 2005. The Company has applied to the Stock Exchange             
    for an extension of the date for despatch of the Circular to              
    the Shareholders.                                                         
                                                                              
    As at the date of this announcement, the Board consists of four           
    executive Directors, Mr. Tong Shek Lun, Mr. Li Ka Fai, Fred,              
    Ms. Ko Lai King, Kinny and Ms. Chung Wai Yu, Regina, two                  
    non-executive Directors, Mr. Lee Kwok Leung and Mr. Yang Yiu              
    Chong, Ronald Jeffrey and three independent non-executive                 
    Directors, Mr. Sun Yaoquan, Mr. Tsao Kwang Yung, Peter and Mr.            
    Goh Gen Cheung.                                                           
                                                                              
    By order of the Board                                                     
    Karce International Holdings Company Limited                              
    Tong Shek Lun                                                             
    Chairman                                                                  
                                                                              
    Hong Kong, 24 March, 2005