09:28     FOUR SEAS MER<00374> - Announcement (5)                             

    "Stock Purchase Agreement"   a conditional stock purchase                 
    agreement dated 4 April 2005 entered into between the                     
    Company and the Seller in connection with the Acquisition                 
                                                                              
    "Sale Shares"   57,200,000 ordinary shares of HK$1.00 each                
    in the share capital of the Target Company, representing                  
    the entire issued share capital of the Target Company                     
                                                                              
    "Seller"   Ai Food, as represented by the trustee Toshiaki                
    Higashibata                                                               
                                                                              
    "Share(s)"   ordinary shares of HK$0.10 each in the share                 
    capital of the Company                                                    
                                                                              
    "Shareholder(s)"   the holder(s) of the Shares                            
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "Subsidiaries"   Restaurant Shiki and New Kondo                           
                                                                              
    "Target Company"   IFSCO Hong Kong Limited, formerly known                
    as Quantz Holdings Limited, a company incorporated in Hong                
    Kong with limited liability                                               
                                                                              
    "Target Group"   the Target Company and the Subsidiaries                  
                                                                              
    For the purpose of this announcement, JPY have been                       
    translated into HK$ at JPY100 = HK$7.2973 where such                      
    translation does not constitute a representation that any                 
    amounts have been, could have been or may be exchanged at                 
    this or any other rate.                                                   
    By Order of the Board                                                     
    Four Seas Mercantile Holdings Limited                                     
    Dr. Tai Tak Fung, Stephen                                                 
    Chairman                                                                  
    Hong Kong, 6 April 2005                                                   
                                                                              
    As at the date of this announcement, the Board comprises                  
    five executive Directors, being Dr. Tai Tak Fung, Stephen,                
    Dr. Wu Mei Yung, Quinly, Mr. Man Wing Cheung, Ellis, Mr.                  
    Yip Wai Keung and Mr. Wu Wing Biu, and three independent                  
    non-executive Directors, being Mr. Tsunao Kijima, Mdm.                    
    Leung Mei Han and Mr. Chan Yuk Sang, Peter.