09:55     SIMSEN INT'L<00993> - Announcement (2)                              

    Offer became unconditional in all respects on 31 March 2005.              
    Accordingly, the Option Offer also became unconditional on the            
    Unconditional Date, being 31 March 2005.                                  
                                                                              
    Remittances in respect of the cash considerations (after                  
    deducting the sellers' ad valorem duty in the case of the Share           
    Offer) payable for the Shares and the Options tendered under              
    the Offers will be posted to the accepting Shareholders and               
    holders of the Options by ordinary post at their own risk within          
    ten days of the later of  (i) the date of receipt by the branch           
    share registrar of the Company in Hong Kong or the Secretary,             
    as the case may be, of duly completed Form of Acceptance together         
    with all relevant documents mentioned in the Composite Offer              
    Document or (ii) the Unconditional Date, being the date of this           
    joint announcement.                                                       
                                                                              
    The Offers will remain open for acceptance until 14 April 2005,           
    being 14 days after 31 March 2005, in accordance with Rule 15.3           
    of the Takeovers Code. The latest time and date for acceptance            
    of the Offers will be 4:00 p.m. on 14 April 2005.                         
                                                                              
    GENERAL                                                                   
                                                                              
    As at the date of this announcement, the Board comprises four             
    executive Directors, namely Mr. Haywood Cheung, Mr. Felipe Tan,           
    Mr. So Pak Kwai and Dr. Chang Si-Chung and three independent              
    non-executive Directors, namely Mr. Chan Ka Ling, Edmond, Mr.             
    Wong Yu Choi and Mr. Hong Po Kui, Martin.                                 
                                                                              
    By order of the board of        By order of the board of                  
    Haywood Shares Holding Limited  Simsen International                      
                                    Corporation Limited                       
    Haywood Cheung                  Haywood Cheung                            
    Sole Director                   Chairman and Managing Director            
                                                                              
    Hong Kong, 31 March 2005                                                  
                                                                              
                                                                              
                                                                              
    The Directors jointly and severally accept full responsibility            
    for the accuracy of the information contained in this joint               
    announcement (other than information relating to the Offeror              
    and parties acting in concert with it) and confirm, having made           
    all reasonable enquiries, that to the best of their knowledge,            
    their opinions expressed in this joint announcement have been             
    arrived at after due and careful consideration and there are              
    no other facts not contained in this joint announcement, the              
    omission of which would make any of their statements in this              
    joint announcement misleading.                                            
                                                                              
    The director of the Offeror accepts full responsibility for the           
    accuracy of the information contained in this joint announcement          
    (other than information relating to the Group) and confirms,              
    having made all reasonable enquiries, that to the best of his             
    knowledge, his opinions expressed in this joint announcement              
    have been arrived at after due and careful consideration and              
    there are no other facts not contained in this joint announcement,        
    the omission of which would make any of his statements in this            
    joint announcement misleading.