10:57     <00613> & <01224>-Joint Announcement & Resumption (7)               

                                   announcement                               
    `Conditions Fulfillment Date'  22 June 2005 or such later                 
                                   date as may be agreed in                   
                                   writing between the Vendors                
                                   and the                                    
                                   Purchaser                                  
    `Consideration'                the consideration payable by               
                                   the Purchaser to the Vendors               
                                   for the purchase of the Sale               
                                   Shares, to be calculated in                
                                   accordance with the formula                
                                   set out under the section                  
                                   headed `The Consideration' of              
                                   this                                       
                                   announcement                               
    `Guaranteed Period'            each of the 12 months' period              
                                   ending 31 March 2006 and the               
                                   12 months' period ending 31                
                                   March                                      
                                   2007                                       
    `HK$'                          Hong Kong dollars                          
    `Hoi Tin'                      Hoi Tin Universal Limited, a               
                                   company incorporated in Hong               
                                   Kong                                       
    `Hoi Tin Group'                Hoi Tin, Young Comfort and                 
                                   Hoi Tin                                    
                                   Suzhou                                     
    `Hoi Tin Suzhou'                (Hoi Tin Universal Travel                 
                                   Goods (Suzhou) Limited), a                 
                                   wholly owned foreign                       
                                   enterprise established in the              
                                   PRC which is a wholly owned                
                                   subsidiary of Hoi                          
                                   Tin                                        
    `Hoi Tin Reorganisation'       the corporate reorganisation               
                                   of the Hoi Tin Group to be                 
                                   undertaken prior to                        
                                   Completion to arrive at the                
                                   structure of the Hoi Tin                   
                                   Group set out in the                       
                                   paragraph headed `Information              
                                   on Hoi Tin' under the section              
                                   headed `Assets to be                       
                                   acquired' in this                          
                                   announcement                               
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   People's Republic of                       
                                   China                                      
    `Jin He Factory'               (Dongguan Dongkeng Jingmei                 
                                   Jin He Luggage Manufacturing               
                                   Factory), a processing                     
                                   factory established in                     
                                   Dongguan, the PRC which has                
                                   entered into a processing                  
                                   agreement with Young                       
                                   Comfort                                    
    `Listing Rules'                Rules Governing the Listing                
                                   of Securities on the Stock                 
                                   Exchange                                   
    `PRC'                          The People's Republic of                   
                                   China (for the purpose of                  
                                   this announcement, excludes                
                                   Hong Kong, Macao Special                   
                                   Administrative Region of the               
                                   PRC and Taiwan)                            
    `Properties'                   the piece of land situated at              
                                   129-10 (No. 129-10, Fen Hu                 
                                   Village, Bei Ku Town) and the              
                                   8 buildings located at  (Fen               
                                   Hu Village, Bei Ku Community,              
                                   Li Li Town) owned by the Hoi               
                                   Tin Group                                  
    `Purchaser'                    Ensure Success Holdings                    
                                   Limited, a company                         
                                   incorporated in the British                
                                   Virgin Islands and a                       
                                   wholly-owned subsidiary of                 
                                   Qualipak                                   
    `Qualipak'                     Qualipak International                     
                                   Holdings Limited, a company                
                                   incorporated in Bermuda with               
                                   limited liability, the shares              
                                   of which are listed on the                 
                                   main board of the Stock                    
                                   Exchange                                   
    `Qualipak Group'               Qualipak and its subsidiaries              
    `Qualipak Majority             Regulator Holdings Limited, a              
    Shareholder'                   wholly-owned subsidiary of                 
                                   Yugang which holds                         
                                   approximately 59.71% of the                
                                   issued share capital of                    
                                   Qualipak                                   
    `RMB'                          Renminbi