09:22     ARGOS ENT<08022> - Announcement & Resumption of Trading (2)         

                                                                              
    The S & P Agreement signed on 18th August 2004 was a                      
    conditional agreement that the transaction might not be                   
    successful if the international travel agency operation                   
    permit could not be granted. Then the said agreement might                
    be cancelled and only the consideration paid to be refunded               
    to us. The Company needed time to gather all relevant                     
    information to prepare this announcement and thus there                   
    was delay in publishing this announcement for which the                   
    Company does hereby apologize. Also, there was some delay                 
    in getting the international travel agency operation permit               
    from the PRC National Tourism Bureau                                      
    and thus at some stage the Company was not certain                        
    that whether the deal would go through as we can get full                 
    refund from the vendor according to the S & P Agreement                   
    if the above mentioned permit was not issued to the new                   
    subsidiary. The above mentioned delay to a certain extent                 
    caused the delay in publishing this announcement.                         
                                                                              
    There were several announcements for clarification of                     
    unusual price & volume movements of the shares of the                     
    Company published by the Company on 30th September 2004,                  
    15th November 2004, 14th December 2004, 28th January 2005,                
    3rd March 2005 stating that "We have noted of the recent                  
    increase in the price of the shares of Argos Enterprise                   
    (Holdings) Limited ("the Company") and wish to state that                 
    we are not aware of any reasons for such an increase in                   
    price. We also confirm that there are no negotiations or                  
    agreements relating to intended acquisitions or                           
    realisations which are discloseable under Chapters 19 to                  
    20 of the GEM Listing Rules, neither is the Board aware                   
    of any matter discloseable under the general obligations                  
    imposed by rule 17.10 of the GEM Listing Rules, which is                  
    or may be of a price-sensitive nature". However, the Company              
    is of the opinion that those unusual price & volume                       
    movements are unrelated to this discloseable transaction                  
    due to the immaterial amount of the transaction involved.                 
    Also, the Company wish to state the it is not aware of any                
    reasons for the increase in the price of its shares on 30th               
    March 2005 and hereby confirm that there are no negotiations              
    or agreements relating to intended acquisitions or                        
    realisations which are discloseable under Chapters 19 to                  
    20 of the GEM Listing Rules, which is or may be of a                      
    price-sensitive nature saved as disclosed in this                         
    announcement.                                                             
                                                                              
    The Stock Exchange has indicated that it is looking into                  
    the matters regarding the untimely disclosure of the                      
    discloseable transaction and the accuracy of information                  
    contained in the unusual price movement announcements                     
    published by the Company. The Stock Exchange reserves the                 
    right to take action against the Company/and its directors.               
                                                                              
    A circular containing details of the Transaction in                       
    accordance with the requirements of Rules 19.63, 19.64 and                
    19.65 will be dispatched to the shareholders as soon as                   
    practicable, and in any event within twenty-one days                      
    after this announcement.                                                  
                                                                              
    At the request of the Company, trading in shares on the                   
    GEM of the Stock Exchange was suspended on 9:30 a.m. on                   
    31st March 2005 pending the release of this announcement.                 
    An application has been made to the Stock Exchange for the                
    resumption of trading of shares on the GEM of the Stock                   
    Exchange with effect from 9:30 a.m. on 11th April 2005.                   
                                                                              
    By Order of the Board                                                     
    Argos Enterprise (Holdings) Limited                                       
    Wong Kwong Yiu, Bono                                                      
    Company Secretary                                                         
                                                                              
    Hong Kong, 8th April 2005