09:15     VASO DIGITAL<08220> - 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.                                                     
                                                                              
    This announcement, for which the directors (the                           
    "Directors") of Vaso Digital International Holdings                       
    Limited (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,                    
    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; (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.                    
                                                                              
    VASO DIGITAL INTERNATIONAL HOLDINGS LIMITED                               
    (incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 8220)                                                        
                                                                              
    PROPOSED CHANGE OF COMPANY NAME                                           
                                                                              
    The Board announces that it intends to put forward                        
    a proposal to the Shareholders to approve the change                      
    of the Company's name from "Vaso Digital                                  
    International Holdings Limited" to "China Photar                          
    Electronics Group Limited".                                               
                                                                              
    A circular containing, among other things,                                
    particulars of the proposed change of name of the                         
    Company and a notice of the EGM will be dispatched                        
    to the Shareholders as soon as possible.                                  
                                                                              
    By order of the Board                                                     
    Vaso Digital International Holdings Limited                               
    Yasukawa Yoshihiro                                                        
    Chairman                                                                  
                                                                              
    Hong Kong, 12 April 2005                                                  
                                                                              
    As at the date of this Announcement, the Company's                        
    executive Directors are Yasukawa Yoshihiro, Lee Chun                      
    Piu and Wang Li Hua, and the Company's independent                        
    non-executive Directors are Guo Qing, Liu Feng and                        
    Guo Wen Hong.                                                             
                                                                              
    The above announcement is a summary only. For the full                    
    version of this announcement, please refer to the                         
    "Latest Company Announcements" page on the GEM                            
    website of www.hkgem.com.