13:04     LENOVO GROUP<00992> - Ann. & Resumption of Trading (11)             

    A circular containing further details of the terms of in the Investment   
    Agreement, the Convertible Preferred Shares, the Warrants and the         
    proposed amendments to the Articles of Association, together with the     
    notice of the Extraordinary General Meeting and the form of proxy, will   
    be distributed to the Shareholders as soon as possible.                   
                                                                              
    Neither the Major Shareholder nor its associates has any interest in      
    the Investment Agreement, the proposed issue of the Convertible           
    Preferred Shares and the Warrants which is different from that of the     
    other Shareholders. Hence, the Major Shareholder will not be required     
    to abstain from voting at the Extraordinary General Meeting. The          
    Company is not aware of any Shareholder who will need to abstain from     
    voting at the Extraordinary General Meeting.                              
                                                                              
    TPG, the General Atlantic Group and the Newbridge Capital Group and the   
    Investors do not own any shares in Lenovo or its subsidiaries. Certain    
    of TPG's associates, however, are "portfolio companies" in which TPG      
    has invested. These investments are managed separately, rather than as    
    part of a centrally managed corporate group. TPG generally does not       
    collect information regarding the equity interests that its portfolio     
    companies may hold in other companies.                                    
                                                                              
                                                                              
    RESUMPTION OF TRADING                                                     
                                                                              
    On the application of the Company, trading in the Shares was suspended    
    from 10:06 a.m. on 24 March 2005 pending the release of this              
    announcement. The Company has applied for resumption of trading in the    
    Shares with effect from 9:30 a.m. on 31 March 2005.                       
                                                                              
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, unless the context requires otherwise, the          
    following terms have the meanings as set out below:                       
                                                                              
    "Articles of Association"  the articles of association of the Company     
                                                                              
    "Board"  the board of Directors of the Company                            
                                                                              
    "Closing"  closing of the subscription of the Convertible Preferred       
    Shares and the Warrants                                                   
                                                                              
    "Closing Date"  the date on which Closing takes place in accordance       
    with the terms of the Investment Agreement                                
                                                                              
    "Company"  Lenovo Group Limited, a company incorporated in Hong Kong      
    with limited liability, the Shares of which are listed on the Stock       
    Exchange                                                                  
                                                                              
    "Convertible Preferred Shareholders"  holders of the Convertible          
    Preferred Shares                                                          
                                                                              
    "Convertible Preferred Shares"  Series A Cumulative Convertible           
    Preferred Shares of nominal value HK$9.175 each in the share capital of   
    the Company                                                               
                                                                              
    "Directors"  the directors of the Company                                 
                                                                              
    "Extraordinary General Meeting"  the extraordinary general meeting of     
    the Company to be held for considering and, if thought fit, approving,    
    among others, the issue of the Convertible Preferred Shares and the       
    Warrants and the proposed amendments to the Articles of Association       
                                                                              
    "Exercise Price"  HK$2.725 per Share, subject to certain anti-dilution    
    adjustments                                                               
                                                                              
    "Expiry Date"  the fifth anniversary of the Closing Date                  
                                                                              
    "General Atlantic Group"  collectively, General Atlantic Partners         
    (Bermuda), L.P., GAPSTAR, LLC, GAP Coinvestments III, LLC, GAP            
    Coinvestments IV, LLC and GAPCO GmbH & Co. KG and affiliates that are     
    under common control with such entities                                   
                                                                              
    "Group"  the Company and its subsidiaries                                 
                                                                              
    "HK$"  Hong Kong Dollars, the lawful currency of Hong Kong                
                                                                              
    "Hong Kong"  the Hong Kong Special Administrative Region of the           
    People's Republic of China                                                
                                                                              
    "IBM"  International Business Machines Corporation