09:56     I.T<00999> - Announcement (1)                                       

    Not for distribution in or into the United States. The information        
    contained herein does not constitute an offer of securities for sale      
    in the United States. Securities may not be offered or sold in the        
    United States unless they are registered under applicable law or          
    exempt from registration. No public offering of securities will be        
    made in the United States.                                                
                                                                              
    This announcement is for information purposes only and does not           
    constitute an invitation or offer to acquire, purchase or subscribe       
    for securities. This announcement is made pursuant to the requirement     
    under Section 9(2) of the Securities and Futures (Price Stabilizing)      
    Rules.                                                                    
                                                                              
    The Stock Exchange of Hong Kong Limited (the ``Stock Exchange'') 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.                                                             
                                                                              
    Unless otherwise defined herein, terms defined in the prospectus          
    dated 22 February 2005 (the ``Prospectus'') issued by I.T Limited (the    
    ``Company'') shall have the same meanings when used in this               
    announcement.                                                             
                                                                              
    I.T LIMITED                                                               
    (incorporated in Bermuda with limited liability)                          
    (Stock Code: 999)                                                         
                                                                              
    ANNOUNCEMENT                                                              
    EXERCISE OF OVER-ALLOTMENT OPTION                                         
    AND END OF STABILIZATION PERIOD                                           
                                                                              
    The Board would like to announce that the stabilizing period in           
    connection with the Offering ended on 27 March 2005. No stabilizing       
    actions were undertaken during the stabilizing period.                    
                                                                              
    CLSA Limited over-allocated Shares in the International Placing. The      
    over-allocations made by CLSA Limited in the International Placing        
    were satisfied by Shares borrowed from 3WH Limited pursuant to the        
    stock borrowing arrangements entered into on 21 February 2005. Such       
    Shares were returned by CLSA Limited to 3WH Limited by new Shares         
    issued by the Company pursuant to the partial exercise by CLSA Limited    
    of the Over-allotment Option.                                             
                                                                              
    Accordingly, the Board would also like to announce that CLSA Limited      
    exercised the Over-allotment Option on 26 March 2005 to require the       
    Company to issue 37,500,000 additional new Shares. The Over-allotment     
    Option was exercised  at the Offer Price of HK$1.95 per Share for the     
    purpose of returning the borrowed Shares to 3WH Limited which had been    
    used to cover over-allocations in the International Placing. Approval     
    for the listing of and permission to deal in the Over-allotment Shares    
    has been granted by the Listing Committee of the Stock Exchange.          
                                                                              
    The Company will receive net proceeds of approximately HK$71 million      
    from the issue of the Over-allotment Shares. The net proceeds are         
    expected to be applied by the Group as follows: approximately HK$40       
    million to fund the Group's Hong Kong expansion, approximately HK$30      
    million to fund the PRC and Taiwan expansion and the remaining amount     
    as general working capital.                                               
                                                                              
    The Over-allotment Option expired on 27 March 2005.                       
                                                                              
    END OF STABILIZATION PERIOD                                               
                                                                              
    The Board would like to announce that the stabilization period in         
    connection with the Offering ended on 27 March 2005. As advised by        
    CLSA Limited, the stabilizing manager of the Offering, no stabilizing     
    actions were undertaken during the stabilization period.                  
                                                                              
    EXERCISE OF THE OVER-ALLOTMENT OPTION                                     
                                                                              
    CLSA Limited over-allocated Shares in the International Placing. The      
    over-allocations made by CLSA Limited in the International Placing        
    were satisfied by Shares borrowed from 3WH Limited (the ``Borrowed        
    Shares'') pursuant to the stock borrowing arrangements entered into       
    on 21 February 2005. Such Shares were returned by CLSA Limited to 3WH     
    Limited pursuant to the stock borrowing arrangements by new Shares        
    issued by the Company pursuant to the exercise by CLSA Limited of the     
    Over-allotment Option.