10:20     YANION INT'L<00082> - 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.                                                     
                                                                              
    This announcement is for information purposes only                        
    and does not constitute an invitation or offer to                         
    acquire, purchase or subscribe for any securities.                        
                                                                              
    YANION INTERNATIONAL HOLDINGS LIMITED                                     
    *                                                                         
    (incorporated in Bermuda with limited liability)                          
    (Stock code: 82)                                                          
                                                                              
    DELAY IN DESPATCH OF CIRCULAR IN RELATION TO                              
    (1) POSSIBLE VERY SUBSTANTIAL ACQUISITION INVOLVING                       
    CONDITIONAL ACQUISITION OF THE ENTIRE ISSUED                              
    SHARE CAPITAL OF GUOHUA INTERNATIONAL                                     
    INVESTMENT LIMITED                                                        
    AND                                                                       
    (2) THE PROPOSED PLACING                                                  
                                                                              
    The Company has applied to the Stock Exchange for an                      
    extension of the deadline for despatch of the Circular                    
    from 29 March 2005 to 18 April 2005.                                      
                                                                              
    Reference is made to the announcement (the                                
    "Announcement") of the Company dated 7 March 2005.                        
    Terms used herein have the same meanings as defined                       
    in the Announcement unless otherwise stated.                              
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, the                          
    Company is required to despatch a circular (the                           
    "Circular") in relation to, among other things,                           
    further information of the Acquisition, the Placing,                      
    the Continuing Connected Transactions, the pro forma                      
    financial information of Guohua International group                       
    (including the accountants' reports on Guohua                             
    International, Yingkou Steel JV and the Steel Plant                       
    (where applicable)) (collectively, the "Guohua                            
    Group"), the pro forma financial information of the                       
    enlarged Group and a notice of the SGM to the                             
    Shareholders within 21 days after the publication of                      
    the Announcement i.e. on or before 29 March 2005. As                      
    more time is required for preparation of and audit                        
    for the financial statements of the Guohua Group for                      
    inclusion in the Circular, the Company has applied                        
    to the Stock Exchange for an extension of the deadline                    
    for despatch of the Circular from 29 March 2005 to                        
    18 April 2005.                                                            
                                                                              
    By order of the Board                                                     
    Yanion International Holdings Limited                                     
    Fung Chi Kin                                                              
    Executive Director                                                        
                                                                              
    Hong Kong, 24 March 2005                                                  
                                                                              
    As at the date of this announcement, the Board                            
    comprised six executive Directors, Messrs. Cheng Shu                      
    Wing, Fung Chi Kin, Guo Duen How, Tom, Ho Yuk Ming,                       
    Hugo, Kao Ying Lun and Wu Fred Fong, and three                            
    independent non-executive Directors, Messrs. Choy                         
    Tak Ho, Tsui Chun Chung, Arthur and Wong Chun Wah.                        
                                                                              
    * for identification purposes only