09:55     QUALITY HEALTH<00593> - Announcement (2)                            

    As at 4:00 p.m. on 7 April 2005, being the latest time for                
    acceptance of the Offer, Form of Acceptances in respect of a              
    total of 25,474,154 Shares had been received by the Company from          
    the Accepting Shareholders, representing approximately 11.76%             
    of the issued share capital of the Company as at the Latest               
    Acceptance Time and approximately 118% of the Maximum Number,             
    of which 3,734,433 Shares were attributable to the Accepting              
    Shareholders' Assured Entitlements whilst the remainder of                
    21,739,721 Shares were attributable to the Accepting                      
    Shareholders' Excess Tenders.                                             
                                                                              
    Shares validly tendered for acceptance by Accepting Shareholders          
    under the Offer will be accepted in full to the extent of each            
    such Accepting Shareholder's Assured Entitlement.                         
                                                                              
    As the Excess Tenders received from Accepting Shareholders                
    together with acceptances made under their Assured Entitlements           
    have exceeded the Maximum Number, out of acceptances received             
    from the Accepting Shareholders' Excess Tenders only 17,932,855           
    Shares will be repurchased.                                               
                                                                              
    The scaling down of Excess Tenders accords with the method for            
    pro-rata allocation among Accepting Shareholders as detailed              
    on page 49 of the Offer Document. For such scaling down, the              
    Company shall have the discretion to round up or down the number          
    of Excess Tenders, arrived at after pro-rata allocation such              
    that the number of Shares held by each Accepting Shareholder              
    will be free of odd lots and fractional entitlements as much              
    as practicable.                                                           
                                                                              
    TOTAL CONSIDERATION PAYABLE                                               
                                                                              
    In accordance with the terms of the Offer, the Company will               
    repurchase and cancel 21,667,288 Shares. The total consideration          
    payable by the Company under the Offer is approximately HK$43.3           
    million.                                                                  
                                                                              
    INTERESTS OF WAH CHEONG                                                   
                                                                              
    As a result of the Offer, the total issued share capital of the           
    Company will be reduced to 195,005,596 Shares and the interests           
    in the issued share capital of the Company of Wah Cheong (and             
    its concert parties) will increase from approximately 29.71%              
    to 33.01%. The shareholding of Wah Cheong (and its concert                
    parties) remains at 64,373,594 Shares and 12,343,918 Warrants             
    upon the close of the Offer, with no other interests in the               
    securities of the Company. So far as the Company is aware and             
    as confirmed by Wah Cheong, Wah Cheong (and its concert parties)          
    have not dealt for value in any of the securities of the Company          
    during the period of the Offer and up to the closing date of              
    the Offer.                                                                
                                                                              
    CHANGES IN SHAREHOLDING                                                   
                                                                              
    Set out below are the Company's shareholding structure before             
    and after the Offer has been completed (taking into account that          
    Wah Cheong has undertaken not to participate in the Offer):               
                                                                              
    Shareholding before     Shareholding immediately                          
    completion of the Offer upon completion of the Offer                      
                                                                              
    Shareholders    No. of Shares   %       No. of Shares   %                 
                                                                              
    Wah Cheong (and its concert parties)    64,373,594      29.71             
            64,373,594      33.01                                             
    CLSA Capital Limited    34,156,666      15.76   34,156,666      17.52     
    Mr. Mark Wong Tai Chun  50,040  0.02    50,040  0.02                      
    Public  118,092,584     54.51   96,425,296      49.45