09:59     QUALIPAK INT'L<01224> - Announcement (1)                            

    The Stock Exchange of Hong Kong Limited (the "Stock                       
    Exchange") 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.                                     
                                                                              
    QUALIPAK INTERNATIONAL HOLDINGS LIMITED                                   
    *                                                                         
    (the "Company")                                                           
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1224)                                                        
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The Board has noted the recent increase in the trading                    
    volume of the shares of the Company and wish to state                     
    that save for the acquisition today of 190,000,000                        
    Shares by Regulator, a company controlled by Mr.                          
    Cheung Chung Kiu, a director and substantial                              
    shareholder of the Company, from a party/parties                          
    unconnected with the Company through an intermediary,                     
    they are not aware of any reasons for such increase.                      
    Immediately after the acquisition, the shareholding                       
    of Mr. Cheung Chung Kiu (through companies controlled                     
    by him) will increase from 59.71% to 64.54%.                              
                                                                              
    Shareholders and investors of the Company should                          
    exercise caution when dealing in the Shares.                              
                                                                              
    This announcement is made at the request of the Stock                     
    Exchange.                                                                 
                                                                              
    The board of directors of the Company (the "Board")                       
    has noted the recent increase in the trading volume                       
    of the shares of the Company ("Shares") and wish to                       
    state that, they are not aware of any reasons for such                    
    increase save for the following.                                          
                                                                              
    The Board has been notified by Mr. Cheung Chung Kiu,                      
    a Director and substantial shareholder of the Company                     
    that he has today caused a company controlled by him,                     
    namely Regulator Holdings Limited ("Regulator") (a                        
    wholly-owned subsidiary of Yugang International                           
    Limited of which Mr. Cheung is a director and                             
    controlling shareholder) to acquire 190,000,000                           
    Shares (representing approximately 4.82% of the total                     
    issued share capital of the Company) from a                               
    party/parties unconnected with the Company through                        
    an intermediary at a price of HK$0.088 per Share.                         
    Immediately before and after the acquisition, Mr.                         
    Cheung Chung Kiu (through companies controlled by him)                    
    was interested in 2,352,396,360 and 2,542,396,360                         
    Shares representing approximately 59.71% and 64.54%                       
    respectively of the issued share capital of the                           
    Company.                                                                  
                                                                              
    Save as disclosed above and the announcement issued                       
    by the Company dated 4 April 2005, the Board is not                       
    aware of any negotiations or agreements relating to                       
    intended acquisitions or realizations which are                           
    discloseable under rule 13.23 of the Rules Governing                      
    the Listing of Securities on the Stock Exchange (the                      
    "Listing Rules"), neither is the Board aware of any                       
    matter discloseable under the general obligation                          
    imposed by rule 13.09 of the Listing Rules, which is                      
    or may be of a price sensitive nature.                                    
                                                                              
    Shareholders and investors of the Company should                          
    exercise caution when dealing in the Shares.