09:14     VISION CENTURY<00535> - Announcement (3)                            

    of the Company under the Listing Rules                                    
                                                                              
    "TSP"   Tsinghua Science Park Co., Ltd., a limited liability company      
    established under the laws of PRC                                         
                                                                              
    "Listing Rules"   the Rules Governing the Listing of Securities on the    
    Stock Exchange                                                            
                                                                              
    "Manager's Remuneration"   the fee payable by Vision Huaqing to THSP      
    pursuant to the Property Management Contract                              
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "Property Management Contract"   the property management contract dated   
    1 April 2005 entered into between Vision Huaqing and THSP in relation to  
     the provision of property management services by THSP for the Building   
    for the period from 1 April 2005 to 14 September 2006                     
                                                                              
    "RMB"   Renminbi, the lawful currency of PRC                              
                                                                              
    "Shareholder(s)"   the holder(s) of the share(s) of the Company           
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "Vision Huaqing"   Vision Huaqing (Beijing) Development Co., Ltd, a       
    limited liability company established under the laws of PRC which is      
    owned as to 60% by the Company and as to 40% by TSP                       
                                                                              
    "%"   per cent.                                                           
                                                                              
    By order of the Board                                                     
    Vision Century Corporation Limited                                        
    Ang Ah Lay                                                                
    Executive Director and Chief Executive Officer                            
                                                                              
    Hong Kong, 4 April 2005