09:24     FIRST DRAGONCOM<00875> - 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.               
                                                                              
    FIRST DRAGONCOM AGRO-STRATEGY HOLDINGS LIMITED                            
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 875)                                                         
                                                                              
    CHANGE OF AUDITORS                                                        
                                                                              
    The Board announces that Ernst & Young have resigned as auditors of       
    the Company with effect from 8 April 2005. CCIF CPA Limited were          
    appointed to fill the vacancy with effect from 11 April 2005.             
                                                                              
                                                                              
    The board of directors (the ``Board'') of First Dragoncom                 
    Agro-Strategy Holdings Limited (the ``Company'') announces that           
    Ernst & Young (``E&Y'') have resigned as auditors of the Company with     
    effect from 8 April 2005 due to the fact that E&Y and the Board could     
    not reach an agreement on the audit fee for the year ended 31 December    
    2004. The change in auditors will not delay the publication of the        
    results of the Company for the year ended 31 December 2004. According     
    to the resignation letter of E&Y, E&Y confirms that there are no          
    circumstances connected with their resignation which they consider        
    should be brought to the attention of the members or creditors of the     
    Company. The Board also considered that there are no circumstances        
    in respect of the change of auditors which it considers should be         
    brought to the attention of the holders of securities of the Company.     
    E&Y has not started any audit work for the year 2005.                     
                                                                              
    The Board further announces that CCIF CPA Limited were appointed as       
    auditors of the Company to fill the vacancy with effect from 11 April     
    2005 following the resignation of E&Y.                                    
                                                                              
    By order of the Board                                                     
    FIRST DRAGONCOM AGRO-STRATEGY HOLDINGS LTD.                               
    Zhang Xiaoxiong                                                           
    Chairman                                                                  
                                                                              
    Hong Kong, 12 April 2005                                                  
                                                                              
    As at the date of this announcement, the directors of the Company are     
    comprised of eight directors, including four executive directors,         
    namely, Mr. Zhang Xiaoxiong, Dr. Qian Keming, Mr. Huang Jianhua, Mr.      
    Han Jide, a non-executive director, namely, Mr. Qin Qing Yun, and         
    three independent non-executive directors, namely, Mr. Zhao Cai Yuan,     
    Ms. Lau Ha and Mr. Huang San Xing.