09:26     SHANG HUA HOLD<00371> - Unusual price & volume movements            

    The Stock Exchange has received a message from Shang Hua Holdings         
    Limited which is reproduced as follows:-                                  
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted the recent increase in the price and volume of the shares of
    the Company and wish to state that we are not aware of any reasons for    
    such increases.                                                           
                                                                              
    We also confirm that there are no negotiations or agreements relating to  
    intended acquisitions or realisations which are discloseable under rule   
    13.23, neither is the Board aware of any matter discloseable under the    
    general obligation imposed by rule 13.09, which is or may be of a price   
    sensitive nature.                                                         
                                                                              
    Made by the order of Shang Hua Holdings Limited, the Board of the         
    directors of which individually and jointly accept responsibility for the 
    accuracy of this statement.                                               
                                                                              
    As at the date of this announcement, the board of directors of the Company
    consists of three executive directors, Ms. Zhou Liping, Mr. Huang Flynn   
    Xuxian and Ms. Guan Mei and three independent non-executive directors, Mr.
    Shea Chun  Lok, Quadrant, Mr. Chan Yiu Kwong and Mr. Ngai Chi Yung.       
                                                                              
                                                                              
    On behalf of the Board                                                    
    SHANG HUA HOLDINGS LIMITED                                                
                                                                              
    Zhou Liping                                                               
    Executive Director                                                        
                                                                              
    Hong Kong, 30th March, 2005"