09:11     GRANDY CORP<08143> - Unusual price movement                         

                                                                              
    This announcement is made at the request of The Stock                     
    Exchange of Hong Kong Limited.                                            
                                                                              
    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.                                                     
                                                                              
    Grandy Corporation                                                        
    (incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock code: 8143)                                                        
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The directors (the "Directors") of Grandy Corporation                     
    (the "Company") have noted today's increase in share                      
    price of the Company's securities and wish to state                       
    that the Directors are not aware of any reasons for                       
    such increase.                                                            
                                                                              
    The Directors confirm that there are no negotiations                      
    or agreements relating to intended acquisitions or                        
    realisations which are discloseable under Chapters                        
    19 to 20 of the Rules Governing the Listing of                            
    Securities on the Growth Enterprise Market of The                         
    Stock Exchange of Hong Kong Limited ("GEM Listing                         
    Rules"), neither is the board of Directors (the                           
    "Board") aware of any matter discloseable under the                       
    general obligation imposed by rule 17.10 of the GEM                       
    Listing Rules, which is or may be of a price-sensitive                    
    nature.                                                                   
                                                                              
    Made by the order of the Board, the Directors of which                    
    collectively and individually accept responsibility                       
    for the accuracy of this announcement.                                    
                                                                              
    By order of the Board                                                     
    Grandy Corporation                                                        
    Chan Hon Chiu                                                             
    Executive Director                                                        
                                                                              
    Hong Kong, 12 April 2005                                                  
                                                                              
    At the date of this announcement, the Executive                           
    Directors are Mr. Yung Kwok Leong, Mr. Chan Hon Chiu                      
    and Mr. Yeung Kam Yan. The Independent Non-executive                      
    Directors are Mr. Chan Ping Kuen, Francis, Mr. Hsu                        
    Shiu Foo, William and Mr. Yu Chai Mei.                                    
                                                                              
    This announcement, for which the Directors of the                         
    Company collectively and individually accept full                         
    responsibility, includes particulars given in                             
    compliance with the Rules Governing the Listing of                        
    Securities on the Growth Enterprise Market ("GEM")                        
    of The Stock Exchange of Hong Kong Limited for the                        
    purpose of giving information with regard to the                          
    Company. The Directors of the Company, having made                        
    all reasonable enquiries, confirm that, to the best                       
    of their knowledge and belief (i) the information                         
    contained in this announcement is accurate and                            
    complete in all material respects and not misleading;                     
    and (ii) there are no other matters the omission of                       
    which would make any statement in this announcement                       
    misleading; and (iii) all opinions expressed in this                      
    announcement have been arrived at after due and                           
    careful consideration and are founded on bases and                        
    assumptions that are fair and reasonable.                                 
                                                                              
    This announcement will remain on the GEM website at                       
    www.hkgem.com on the "Latest Company Announcements"                       
    page for at least 7 days from the date of its posting                     
    and the website of the Company at www.grandy.com.hk.