09:54     KAMBOAT<00318> - Announcement                                       

    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.                                                     
                                                                              
    KAMBOAT GROUP COMPANY LIMITED                                             
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock code: 318)                                                         
                                                                              
    DELAY IN DESPATCH OF THE CIRCULAR                                         
    REGARDING                                                                 
    THE SUBSCRIPTION OF 5,400,000,000 NEW SHARES                              
    BY VONGROUP HOLDINGS LIMITED                                              
    AND CAPITAL BEIJING HOLDINGS LIMITED,                                     
    WHITEWASH WAIVER APPLICATION,                                             
    CAPITAL REORGANISATION                                                    
    AND                                                                       
    CHANGE OF NAME                                                            
                                                                              
    The Company announces that the despatch of the                            
    circular to Shareholders, as required under Rule 8.2                      
    of the Takeovers Code, will be postponed to a date                        
    on or before 22 April 2005.                                               
                                                                              
    INTRODUCTION                                                              
    The Board refers to the announcement dated 21 March                       
    2005 made jointly by the Company and Vongroup Holdings                    
    and Capital Beijing (the "Announcement"), and                             
    published on 22 March 2005, in relation to the                            
    captioned matters. Terms defined in the Announcement                      
    shall have the same meanings when used herein unless                      
    the context requires otherwise.                                           
                                                                              
    DELAY IN DESPATCH OF THE CIRCULAR                                         
    Pursuant Rule 8.2 of the Takeovers Code, a circular                       
    containing particulars of the captioned matters                           
    including, amongst other things, details of the                           
    Subscription and the Whitewash Waiver and the advice                      
    of the independent financial adviser, is required to                      
    be despatched to the Shareholders within 21 days after                    
    publication of the Announcement, being not later than                     
    12 April 2005.                                                            
                                                                              
    Due to the intertwining Easter and Ching Ming Festival                    
    holidays, additional time is required for the Company                     
    to prepare and finalise the abovementioned circular.                      
    Accordingly, an application has been made to the                          
    Executive for an extension of time for the despatch                       
    of the abovementioned circular to a date on or before                     
    22 April 2005.                                                            
                                                                              
    By order of the Board                                                     
    Kamboat Group Company Limited                                             
    Wong Chi Man                                                              
    Chairman                                                                  
                                                                              
    Hong Kong, 8 April 2005                                                   
                                                                              
    As at the date of this announcement, the Company's                        
    Board comprises nine Directors. The executive                             
    directors are Mr. Wong Chi Man (Chairman and Managing                     
    Director), Mr. Wong Seefs Sum, J.P. (Vice Chairman),                      
    Ms. Wong Lan Fun Roberta, Mr. Wong Chi Wing, Tenny,                       
    Ms. Ng Suk Bing, Mclanly, the Non-Executive Director                      
    is Mr. Tam Fook Yee, and the Independent Non-Executive                    
    Directors are Mr. Lee Man Youn Montareal, Mr. Chan                        
    Kam Fai, Robert and Mr. Cheung Man Yau, Timothy.                          
                                                                              
    The Directors jointly and severally accept full                           
    responsibility for the accuracy of the information                        
    contained in this announcement and confirm, having                        
    made all reasonable enquiries, that to the best of                        
    their knowledge, opinions expressed in this                               
    announcement have been arrived at after due and                           
    careful consideration and there are no other facts                        
    not contained in this announcement, the omission of                       
    which would make any statement in this announcement                       
    misleading.