09:54     REXCAPITAL<00155> & REX FINANCIAL H<00555> - Joint Ann.             

    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.                   
                                                                              
                                                                              
            REXCAPITAL International        REXCAPITAL Financial              
            Holdings Limited                Holdings Limited                  
        (Incorporated in Bermuda with limited liability)        (Incorporated 
                                                            in                
                                               Bermuda with limited liability)
            (Stock code: 155)                (Stock code: 555)                
                                                                              
    JOINT ANNOUNCEMENT                                                        
    FURTHER EXTENSION OF COMPLETION DATE                                      
                                                                              
                                                                              
    Reference is made to the announcement dated 28 January 2005 jointly       
    issued by REXCAPITAL International and REXCAPITAL Financial. REXCAPITAL   
    Group Limited (a wholly-owned subsidiary of REXCAPITAL International)     
    and REXCAPITAL Financial have mutually agreed to extend the completion    
    date of the Sale and Purchase Agreement to 9 May 2005.                    
                                                                              
    Reference is made to the announcement dated 28 January 2005 jointly       
    issued by REXCAPITAL International and REXCAPITAL Financial (the          
    "Announcement"). Terms defined in the Announcement shall have the same    
    meanings when used herein unless the context requires otherwise.          
                                                                              
    FURTHER EXTENSION OF COMPLETION DATE                                      
                                                                              
    To provide REXCAPITAL Group Limited (a wholly-owned subsidiary of         
    REXCAPITAL International) with further time to conduct an update due      
    diligence review, REXCAPITAL Group Limited and REXCAPITAL Financial have  
     mutually agreed to extend the completion date of the Sale and Purchase   
    Agreement to 9 May 2005 (the "Extension").                                
                                                                              
    The Extension does not have any material adverse effect on the operation  
     and financial position of each of REXCAPITAL International and           
    REXCAPITAL Financial.                                                     
                                                                              
    As at the date of this announcement, the board of directors of            
    REXCAPITAL International comprises five executive directors namely Mr.    
    Chan How Chung, Victor, Ms. Lee Huei Lin, Mr. Chan Wai Kwong, Peter, Mr.  
     Chu Chik Ming, Jack and Mr. Seligman Pierre and three independent        
    non-executive directors namely Mr. Chow Siu Ngor, Mr. Yin Tat Man and     
    Mr. Chan Pei Cheong, Andy; whereas the board of directors of REXCAPITAL   
    Financial comprises three executive directors namely Mr. Chan How Chung,  
     Victor, Ms. Lee Huei Lin and Mr. Boo Chun Lon, and three independent     
    non-executive directors namely Mr. Yuen Wai Ho, Mr. On Kien Quoc and Mr.  
     Chow Siu Ngor.                                                           
                                                                              
            By order of the board   By order of the board                     
            REXCAPITAL International Holdings Limited       REXCAPITAL        
                                                                              
                                            Financial Holdings                
                                                            Limited           
            Ng Yuen Yee                                     Lee Huei Lin      
            Company secretary                                Company secretary
                                                                              
                                                                              
    Hong Kong, 8 April 2005