09:44     APPLIED INT'L<00519> - Announcement & Resumption of Trading         

    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representation as to its          
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon the    
    whole or any part of the contents of this announcement.                   
                                                                              
    APPLIED INTERNATIONAL HOLDINGS LIMITED                                    
                                                                              
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 519)                                                         
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    This announcement is made in connection with the recent increase in       
    price and trading volume of the shares of Applied International           
    Holdings Limited and related suspension.                                  
                                                                              
    Trading in the shares of the Company was suspended at the request of      
    the Company at 11:36 a.m. on 6 April 2005 and an application has been     
    made for resumption at 9:30 a.m. on 7 April 2005.                         
                                                                              
    This statement is made at the request of The Stock Exchange of Hong       
    Kong Limited.                                                             
                                                                              
    The directors of Applied International Holdings Limited (the "Company")   
    have noted the recent increase in price and the increase in trading       
    volume of the shares of the Company and wish to state that they are not   
    aware of any reasons for such unusual movements in price and trading      
    volume save for the matters disclosed in the announcements dated 13       
    September 2004 and 28 September 2004 and the fact that the Company is     
    in discussions with an independent third party in relation to the         
    establishment of a possible joint venture to develop a golf course,       
    hotel and marina in Beef Island, the British Virgin Islands as            
    disclosed in its announcement of 27 October 2004. Since then,             
    discussions have continued in relation to the establishment of the        
    joint venture. Draft documents have been exchanged and received by the    
    Company on Friday, 1 April 2005 and the Company has been in discussions   
    to engage an independent third party to arrange for a US$100 million      
    syndicated loan facility, but no binding terms have been agreed.          
    Further announcements will be made if and when appropriate in respect     
    of entering into any arrangement or agreement involving the formation     
    of a joint venture.                                                       
                                                                              
    Save as disclosed above, the board of directors of the Company (the       
    "Board") confirm that there are no negotiations or agreements relating    
    to intended acquisitions or realisations which are discloseable under     
    Rule 13.23 of The Rules Governing the Listing on The Stock Exchange of    
    Hong Kong Limited (the "Listing Rules"), neither is the Board aware of    
    any matter discloseable under the general obligation imposed by Rule      
    13.09 of the Listing Rules, which may be of a price-sensitive nature.     
                                                                              
    Trading in the shares of the Company was suspended at the request of      
    the Company at 11:36 a.m. on 6 April 2005 and an application has been     
    made for resumption at 9:30 a.m. on 7 April 2005. Shareholders and        
    potential investors should exercise caution when dealing in the shares    
    of the Company.                                                           
                                                                              
    As at the date of this announcement, the executive directors of the       
    Company are Mr. Hung Kin Sang, Raymond, Ms. Hung Wong Kar Gee, Mimi and   
    Mr. Fang Chin Ping and the independent non-executive directors of the     
    Company are Mr. Soo Hung Leung, Lincoln, Mr. Lo Yun Tai and Mr. Lun       
    Tsan Kau.                                                                 
                                                                              
    By order of the board                                                     
    Applied International Holdings Limited                                    
    Mr. Hung Kin Sang, Raymond                                                
    Chairman                                                                  
                                                                              
    Hong Kong, 6 April 2005