09:51     PACIFIC ANDES<01174> - Announcement                                 

    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                                                      
                                                                              
    PACIFIC ANDES INTERNATIONAL HOLDINGS LIMITED                              
    *                                                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1174)                                                        
                                                                              
    EXTENSION OF LONG STOP DATE                                               
                                                                              
    Reference is made to the announcement and the                             
    shareholders' circular of the Company dated 19                            
    January 2005 and 21 February 2005 respectively in                         
    respect of certain discloseable transactions and                          
    connected transaction of the Company. As additional                       
    time is required for the fulfillment of the conditions                    
    as stipulated in the Subscription Agreement, PAIH                         
    (BVI), a wholly-owned subsidiary of the Company,                          
    KILLP, Kyoshoku and SPIA, have mutually agreed to                         
    extend the date by which the conditions in respect                        
    of PAIH (BVI) must be fulfilled from 24 March 2005                        
    to 22 April 2005. Unless it is further extended, it                       
    is currently expected that Completion shall take                          
    place on or before 29 April 2005.                                         
                                                                              
    Reference is made to the announcement ("Announcement")                    
    and the shareholders' circular of the Company dated                       
    19 January 2005 and 21 February 2005 respectively in                      
    respect of certain discloseable transactions and                          
    connected transaction of the Company. Unless                              
    otherwise defined, all terms used herein shall have                       
    the same meanings as defined in the Announcement.                         
                                                                              
    As at the date of this announcement, all conditions                       
    in respect of PAIH (BVI) have been fulfilled except,                      
    (i) the satisfactory completion by PAIH (BVI) of legal                    
    and financial due diligence investigations of                             
    Kyoshoku and (ii) PAIH (BVI) is satisfied with                            
    Kyoshoku's performance for the period of 1 January                        
    2005 up to 28 February 2005 and the anticipated                           
    performance of Kyoshoku for March 2005 (the "Period");                    
    and, at the sole and absolute discretion of PAIH (BVI),                   
    PAIH (BVI) shall be entitled to have Kyoshoku's                           
    performance for the Period reviewed by its auditors.                      
    As PAIH (BVI) is still assessing the tax implications                     
    of the transactions contemplated under the Agreements                     
    to Kyoshoku and Kyoshoku is in the process of                             
    finalizing its accounts for the first three months                        
    of 2005, additional time is required for the                              
    fulfillment of such conditions, PAIH (BVI), a                             
    wholly-owned subsidiary of the Company, KILLP,                            
    Kyoshoku and SPIA, have mutually agreed to extend the                     
    date by which the conditions in respect of PAIH (BVI)                     
    must be fulfilled (the "Long Stop Date") from 24 March                    
    2005 to 22 April 2005. Unless it is further extended,                     
    it is currently expected that Completion shall take                       
    place on or before 29 April 2005.                                         
                                                                              
    Save as disclosed above, the directors of the Company                     
    are not aware of any material effect of the extension                     
    of the Long Stop Date on the operation and financial                      
    position of the Company.                                                  
                                                                              
    By order of the Board                                                     
    Pacific Andes International Holdings Limited                              
    Cheng Nai Ming                                                            
    Company Secretary                                                         
                                                                              
    Hong Kong, 31 March 2005                                                  
                                                                              
    As at the date of this announcement, the executive                        
    directors of the Company are Mr. Ng Swee Hong, Mr.                        
    Ng Joo Siang, Madam Teh Hong Eng, Mr. Ng Joo Kwee,                        
    Mr. Ng Joo Puay, Frank, Ms. Ng Puay Yee and Mr. Cheng                     
    Nai Ming whilst the independent non-executive                             
    directors of the Company are Mr. Kwok Lam Kwong, Larry,                   
    Mr. Lew V. Robert and Mr. Yeh Man Chun, Kent.                             
                                                                              
    *  For identification purpose only