10:49     VP GREENCHIP<01186> - Announcement (4)                              

    "Renewal Agreement"   means the agreement entered into on 1               
    April 2005 between the Company and the Manager to extend the              
    Investment Management Agreement which has expired on 3 April              
    2005                                                                      
                                                                              
    "Security" or "Securities"   means any share, stock, debenture,           
    loan stock, bond, security, commercial paper, acceptance,                 
    trade bill, treasury bill, instrument or note of, or issued by            
    or under the guarantee of, any body, whether incorporated or              
    unincorporated, or of any government or local government                  
    authority or supranational body, whether paying interest or               
    dividends or not and whether fully-paid, partly paid or nil paid          
    and includes (without prejudice to the generality of the                  
    foregoing):                                                               
                                                                              
    (i)   any right, option or interest (howsoever described) in              
    or in respect of any of the foregoing, including units in any             
    Unit Trust (as defined in the articles of association of the              
    Company);                                                                 
                                                                              
    (ii)   any certificate of interest or participation in, or                
    temporary or interim certificate for, receipt for or warrant              
    to subscribe or purchase, any of the foregoing;                           
                                                                              
    (iii)   any instrument commonly known or recognised as a                  
    security;                                                                 
                                                                              
    (iv)   any receipt or other certificate or document evidencing            
    the deposit of a sum of money, or any rights or interests arising         
    under any such receipt, certificate or document; and                      
                                                                              
    (v)   any bill of exchange and any promissory note                        
                                                                              
    "SFC"   means the Securities and Futures Commission of Hong               
    Kong                                                                      
                                                                              
    "Share"   means shares of par value HK$0.10 each in the share             
    capital of the Company                                                    
                                                                              
    "Shareholder(s)"   means registered holders of the Shares from            
    time to time                                                              
                                                                              
    "Stock Exchange"   means The Stock Exchange of Hong Kong                  
    Limited                                                                   
                                                                              
    "Valuation Point"   means the official close of trading on the            
    Market on each Business Day on which any Security, commodity,             
    or Futures Contract comprised in the Company's portfolio is               
    traded and, if assets comprising the Company's portfolio are              
    traded on more than one Market, the official close of trading             
    on the last Market to close or such other time or times as                
    determined by the Manager from time to time provided that there           
    shall always be a Valuation Point on each Business Day                    
                                                                              
    On behalf of the Board                                                    
    So Chun Ki Louis                                                          
    Chairman                                                                  
                                                                              
    Hong Kong, 1 April 2005                                                   
                                                                              
    As at the date of this announcement, the executive directors              
    of the Company are Mr. Cheah Cheng Hye, Mr. Teng Ngiek Lian,              
    Mr. Ngan Wai Wah and Mr. So Chun Ki Louis, the non-executive              
    director is Mr. Yeung Kin Sing and the independent                        
    non-executive directors are Mr. Li Aubrey Kwok Sing, Mr. Paul             
    Marin Theil and Mr. Ng Ka Wai.