10:23     MAE HOLDINGS<00851>-Announcement&Resumption of Trading(13)          

    "Capital Reorganisation"   collectively, the                              
    Capital Reduction, the Share Subdivision and the                          
    Share Consolidation                                                       
                                                                              
    "Companies Act"   the Companies Act 1981 of Bermuda                       
                                                                              
    "Companies Ordinance"   the Companies Ordinance                           
    (Chapter 32 of the Laws of Hong Kong)                                     
                                                                              
    "Company"   MAE Holdings Limited, a company                               
    incorporated in Bermuda with limited liability and                        
    the issued Existing Shares of which are listed on the                     
    Stock Exchange                                                            
                                                                              
    "connected persons"   has the meaning ascribed to it                      
    under the Listing Rules                                                   
                                                                              
    "Consolidated Share(s)"   new ordinary share(s) of                        
    HK$0.01 each in the capital of the Company after the                      
    Share Consolidation has taken effect                                      
                                                                              
    "Directors"   directors of the Company                                    
                                                                              
    "EAF"   excess application form for additional                            
    Rights Shares proposed to be issued to the Qualifying                     
    Shareholders                                                              
                                                                              
    "Excluded Shareholders"   those Overseas                                  
    Shareholders whom the Directors, after making                             
    relevant enquiry, consider their exclusion from the                       
    Rights Issue to be necessary or expedient on account                      
    either of the legal restrictions under the laws of                        
    the relevant place or the requirements of the                             
    relevant regulatory body or stock exchange in that                        
    place                                                                     
                                                                              
    "Executive"   the Executive Director of the                               
    Corporate Finance Division of the SFC an any delegate                     
    of the Executive Director                                                 
                                                                              
    "Existing Share(s)"   existing ordinary share(s) of                       
    HK$0.01 each in the capital of Company                                    
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "HK Sky"   HK Sky Entertainment Holdings Limited, an                      
    investment holding company incorporated in Hong Kong                      
    with limited liability which is wholly owned by Mr.                       
    Lo Wai Shing, Felix                                                       
                                                                              
    "Hong Kong"   Hong Kong Special Administrative                            
    Region of the People's Republic of China                                  
                                                                              
    "Independent Shareholders"   Shareholders other                           
    than HK Sky, its associates and concert parties                           
    including Mr. Lo Wai Shing, Felix                                         
                                                                              
    "Last Trading Day"   31st March, 2005, the last day                       
    on which the Existing Shares were traded on the Stock                     
    Exchange prior to the release of this announcement                        
                                                                              
    "Latest Time for    4:00 p.m. on the second business                      
    day after the last business day on                                        
      Termination"   which payment and acceptance of the                      
    Rights Shares can be made under the Rights Issue                          
                                                                              
    "Listing Rules"   the Rules Governing the Listing of                      
    Securities on the Stock Exchange                                          
                                                                              
    "Overseas Shareholders"   Shareholders whose                              
    addresses on the register of members of the Company                       
    are outside Hong Kong on the Record Date                                  
                                                                              
    "PAL"   provisional allotment letters for the Rights                      
    Share(s) to be issued to the Qualifying Shareholders                      
                                                                              
    "Posting Date"   the date of despatch of the                              
    Prospectus Documents                                                      
                                                                              
    "Prospectus Documents"   prospectus, PAL and EAF                          
    relating to the Rights Issue                                              
                                                                              
    "Qualifying Shareholders"   Shareholders on the                           
    register of members of the Company on the Record Date                     
    other than the Excluded Shareholders