10:58     <00613> & <01224>-Joint Announcement & Resumption (8)               

    `Retained Amount'              the sum of HK$5,000,000 being              
                                   part of the Consideration                  
                                   retained by the Purchaser as               
                                   mentioned in the section                   
                                   headed ` The Consideration'                
                                   of this                                    
                                   announcement                               
    `Sale and Purchase Agreement'  the agreement dated 23 March               
                                   2005 entered into by the                   
                                   Vendors and the Purchaser in               
                                   connection with the                        
                                   Acquisition                                
    `Sale Shares'                  600,000 shares of HK$1 each                
                                   in Hoi Tin representing 60%                
                                   of the issued share capital                
                                   of Hoi                                     
                                   Tin                                        
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong                                       
                                   Limited                                    
    `Vendors'                      Messrs Chau Tin Ping, Tse On               
                                   Kuen, Wong Kam Hoi and Wong                
                                   Kong                                       
    `Young Comfort'                Young Comfort Development                  
                                   Limited, a company                         
                                   incorporated in Hong Kong                  
                                   with limited liability which               
                                   is currently owned as to 32%               
                                   by Chau Tin Ping, 20% by Tse               
                                   On Kuen, 28% by Wong Kam Hoi               
                                   and 20% by Wong Kong, and                  
                                   which will become a 75% owned              
                                   subsidiary of Hoi Tin after                
                                   completion of the Hoi Tin                  
                                   Reorganisation, with the                   
                                   remaining 25% being owned by               
                                   an independent third                       
                                   party                                      
    `Yugang'                       Yugang International Limited,              
                                   a company incorporated in                  
                                   Bermuda with limited                       
                                   liability, the shares of                   
                                   which are listed on the main               
                                   board of the Stock                         
                                   Exchange                                   
    `Yugang SGM'                   the special general meeting                
                                   to be convened by Yugang at                
                                   which an ordinary resolution               
                                   will be proposed to approve,               
                                   if thought fit, the Sale and               
                                   Purchase Agreement and the                 
                                   transactions contemplated                  
                                   thereunder                                 
                                                                              
                                                                              
                                                                              
                                                                              
    By order of the board of                                                  
    Yugang International Limited                                              
    Yuen Wing Shing                                                           
    Managing Director                                                         
                                                                              
    By order of the board of                                                  
    Qualipak International Holdings Limited                                   
    Lam How Mun Peter                                                         
    Chairman and Managing Director                                            
                                                                              
    Hong Kong, 30 March 2005                                                  
                                                                              
    As at the date of this announcement, the board of directors of            
    Yugang comprises 9 directors of which Mr Cheung Chung Kiu, Mr Yuen        
    Wing Shing, Mr Zhang Qing Xin, Mr Lam Hiu Lo and Mr Liang Kang are        
    executive directors; Mr Carmelo Lee Ka Sze is a non-executive             
    director and Mr Wong Wai Kwong, David, Mr Wong Yat Fai and Mr Ng Kwok     
    Fu are independent non-executive directors.                               
                                                                              
    As at the date of this announcement, the board of directors of            
    Qualipak comprises 9 directors of which Dr Lam How Mun Peter, Mr          
    Cheung Chung Kiu, Mr Lam Hiu Lo, Mr Leung Chun Cheong, Mr Leung Wai       
    Fai and Ms Poon Ho Yee Agnes are executive directors; and Mr Lam Kin      
    Fung Jeffrey, Mr Lam Ping Cheung and Mr Wong Wai Kwong David are          
    independent non-executive directors.                                      
                                                                              
    English names of the PRC established companies/entities in this           
    announcement are only translations of their official Chinese names.       
    In case of inconsistency, the Chinese names prevail.