09:18     TRASY GOLD EX<08063> - 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.                                
                                                                              
    TRASY GOLD EX LIMITED                                                     
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock code: 8063)                                                        
                                                                              
    ANNOUNCEMENT                                                              
    IN RESPONSE TO THE                                                        
    UNCONDITIONAL MANDATORY CASH OFFERS BY                                    
    SOMERLEY LIMITED ON BEHALF OF                                             
    GOLDEN HALL HOLDINGS LIMITED                                              
    FOR ALL THE ISSUED SHARES IN,                                             
    AND FOR CANCELLATION OF ALL OUTSTANDING OPTIONS OF,                       
    TRASY GOLD EX LIMITED                                                     
    (OTHER THAN THOSE ALREADY OWNED OR AGREED                                 
    TO BE ACQUIRED BY THE OFFEROR AND                                         
    PARTIES ACTING IN CONCERT WITH IT)                                        
                                                                              
    Financial adviser                                                         
    to                                                                        
    TRASY GOLD EX LIMITED                                                     
                                                                              
    ACCESS                                                                    
    CAPITAL                                                                   
                                                                              
    On 23 March 2005, the Board was advised by Somerley, who is               
    acting on behalf of Golden Hall (a wholly-owned subsidiary of             
    ITC), of the acquisition of 1,391,430,000 Trasy Shares by                 
    Golden Hall, representing approximately 50.07% of the existing            
    issued share capital of Trasy, at the price of approximately              
    HK$0.00575 per Trasy Share.                                               
                                                                              
    On 6 April 2005, the Offeror issued an announcement setting               
    out the terms of an unconditional mandatory cash offer to be              
    made by Somerley on behalf of the Offeror to acquire all the              
    Trasy Shares in issue (other than those already owned or                  
    agreed to be acquired by the Offeror and parties acting in                
    concert with it) and for the cancellation of all outstanding              
    Trasy Options. The Share Offer and Option Offer are made at               
    the price of HK$0.00575 per Trasy Share and HK$1.00 for                   
    cancellation of every 1,000,000 Trasy Options respectively.               
                                                                              
    Trading in the Trasy Shares on GEM has been suspended since 10            
    June 2003 at the request of Trasy and will remain suspended               
    until further notice. It is the intention of the Board to seek            
    for the resumption of trading in the Trasy Shares in due                  
    course.                                                                   
                                                                              
    Attention of Shareholders and holders of Trasy Options is                 
    drawn to the separate announcement dated 6 April 2005 made by             
    ITC setting out the details of the terms of the Offers.                   
                                                                              
    By order of the Board                                                     
    TRASY GOLD EX LIMITED                                                     
    Chan Kee Chee, Keith                                                      
    Executive Director                                                        
                                                                              
    Hong Kong, 11 April 2005                                                  
                                                                              
    The Directors jointly and severally accept full responsibility            
    for the accuracy of the information contained in this                     
    announcement (except in respect of those information relating             
    to ITC and the Offeror) and confirm, having made all                      
    reasonable enquiries, that to the best of their knowledge,                
    opinions expressed in this announcement (except in respect of             
    those information relating to ITC and the Offeror) have been              
    arrived at after due and careful consideration and there are              
    no other facts (except in respect of those information                    
    relating to ITC and the Offeror) not contained in this                    
    announcement, the omission of which would make any statement              
    in this announcement misleading.