10:04     EZCOM HOLDINGS<00312> - Announcement (1)                            

    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.                                                     
                                                                              
    EZCOM HOLDINGS LIMITED                                                    
    (incorporated in Bermuda with limited liability)                          
    (Stock Code: 312)                                                         
                                                                              
    SUBSCRIPTION FOR NEW SHARES                                               
                                                                              
    SUMMARY                                                                   
    The board of directors of Ezcom Holdings Limited (the                     
    "Company") wishes to announce that subscription                           
    agreements were entered into on 7 April, 2005 between                     
    the Company and eight (8) subscribers (the                                
    "Subscribers"), being independent third parties,                          
    pursuant to which the Company, will allot 35,500,000                      
    shares of HK$0.01 each to the Subscribers at a price                      
    of HK$0.114 per Subscription Share.                                       
                                                                              
    The price and the terms of the Subscription Agreements                    
    have been arrived at after arm's length negotiations                      
    between the Company and the Subscribers. The price                        
    of HK$0.114 per Subscription Share represents (i) a                       
    discount of approximately 19.72% to the closing price                     
    of HK$0.142 per Share as quoted on the Stock Exchange                     
    on 7 April 2005, being the date of the Subscription                       
    Agreements; (ii) a discount of approximately 19.38%                       
    to the average closing price of HK$0.141 per Share                        
    for the five consecutive trading days up to and                           
    including 6 April 2005; (iii) a discount of                               
    approximately 14.16% to the average closing price of                      
    HK$0.133 per Share for the ten consecutive trading                        
    days up to and including 6 April 2005; and (iv) a                         
    discount of approximately 24.84% to the average                           
    closing price of HK$0.152 per Share for the thirty                        
    consecutive trading days up to and including 6 April                      
    2005.                                                                     
                                                                              
    The gross proceeds from the Subscription amounted to                      
    approximately HK$4.05 million. The net proceeds from                      
    the Subscription of approximately HK$4 million will                       
    be applied mainly for general working capital                             
    purposes.                                                                 
                                                                              
    The Subscription Shares amount to approximately 4.88%                     
    of the existing issued share capital of the Company                       
    and approximately 4.65% of its issued share capital                       
    as enlarged by the Subscription.                                          
                                                                              
    Completion of the Subscription Agreements are                             
    conditional on the Stock Exchange granting listing                        
    of and permission to deal in the Subscription Shares                      
    and shall take place on or before 30 April 2005, or                       
    such later date as the parties may agree in writing.                      
                                                                              
    SUBSCRIPTION AGREEMENTS DATED 7 APRIL, 2005                               
    Number of Shares to be Subscribed                                         
    35,500,000 new Shares                                                     
    The Subscription Shares amount to approximately 4.88%                     
    of the existing issued share capital of the Company                       
    and approximately 4.65% of the Company's issued share                     
    capital as enlarged by issue of the Subscription                          
    Shares.                                                                   
                                                                              
    The Subscription Shares will be issued under the                          
    general mandate granted to the Directors at the annual                    
    general meeting of the Company held on 23 September                       
    2004. Pursuant to the said general