09:36     SUNNY GLOBAL<01094>-Announcement & Resumption of Trading(1)         

    The Stock Exchange of Hong Kong Limited 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.               
                                                                              
    SUNNY GLOBAL HOLDINGS LIMITED                                             
    *                                                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1094)                                                        
                                                                              
    MAJOR TRANSACTION                                                         
    DISPOSAL OF THE ENTIRE ISSUED SHARE CAPITAL OF,                           
    AND A SHAREHOLDER'S LOAN DUE FROM,                                        
    KAITAI UNITED COMPANY LIMITED                                             
                                                                              
                                                                              
    On 31 March 2005, Fortress Ocean, a wholly-owned subsidiary of            
    the Company, entered into the Agreement pursuant to which Fortress        
    Ocean agreed to sell, and Jade Paradise agreed to acquire, the entire     
    issued share capital of Kaitai United and the Sale Debt for a total       
    consideration of HK$12,892,087.                                           
                                                                              
    As the applicable percentage ratios under Rule 14.07 of the Listing       
    Rules in respect of the Disposal exceed 25% but are below 75%, the        
    Disposal constituted a major transaction for the Company under the        
    Listing Rules and is therefore conditional on the approval of the         
    Shareholders at a general meeting. A circular containing further          
    particulars of the Disposal together with the notice of the SGM to be     
    convened for the purpose of approving the Disposal will be despatched     
    to the Shareholders as soon as practicable.                               
                                                                              
    Dealings in the shares of the Company on the Stock Exchange has been      
    suspended at the request of the Company with effect from 9:30 a.m.,       
    17 March 2005 pending release of this announcement. Application has       
    been made by the Company for the resumption of dealings in the shares     
    of the Company on the Stock Exchange on 9:30 a.m., 1 April                
    2005.                                                                     
                                                                              
                                                                              
    THE AGREEMENT                                                             
    Date:                          31 March 2005                              
    Parties:                                                                  
    Vendor:                        Fortress Ocean Limited, a                  
                                   company incorporated in the                
                                   British Virgin Islands and a               
                                   wholly-owned subsidiary of                 
                                   the Company.                               
    Purchaser:                     Jade Paradise Limited, a                   
                                   company incorporated in the                
                                   British Virgin Islands. To                 
                                   the best of the Directors'                 
                                   knowledge, information and                 
                                   belief having made all                     
                                   reasonable enquiry, each of                
                                   Jade Paradise and its                      
                                   ultimate beneficial owners is              
                                   independent of the Company                 
                                   and connected persons (as                  
                                   defined in the Listing Rules)              
                                   of the                                     
                                   Company.                                   
                                                                              
                                                                              
                                                                              
    Assets to be disposed of:                                                 
    (i) 1,116,044 shares of US$1.00 each in the capital of Kaitai             
    United, representing the entire issued share capital of Kaitai            
    United; and (ii) a shareholder's loan due from Kaitai United to           
    Fortress Ocean in the amount of HK$4,892,087.                             
                                                                              
    Consideration:                                                            
    The consideration for the disposal of the Sale Shares shall be HK$8       
    million whilst the consideration for the disposal of the Sale Debt        
    shall be HK$4,892,087. The consideration of the Disposal shall be         
    satisfied as the following schedule (`Schedule'):                         
                                                                              
                                                                              
    HK$7 million is to be paid as the 1st installment of the                  
    consideration (for the settlement of the Sale Shares) as at the           
    completion date.                                                          
                                                                              
                                                                              
    HK$3 million is to be paid as the 2nd installment of the                  
    consideration (for the settlement of the remaining consideration of       
    the Sale Shares and the partial settlement of the Sale Debt) on or        
    before the 30 days after the completion date.                             
                                                                              
                                                                              
    The balance of HK$2,892,087 is to be paid as the final installment        
    of the consideration (for the settlement of the balance of the Sale