09:59     EGANA JEWELLERY<00926> - Announcement (5)                           

                                   product development,                       
                                   distribution and marketing of              
                                   jewellery and related                      
                                   accessories                                
    `Group'                        the Company, together with                 
                                   its subsidiaries                           
    `Old Listing Rules'            Rules Governing the Listing                
                                   of Securities on the Stock                 
                                   Exchange in force prior to 31              
                                   March 2004                                 
    `Oro Design'                   Oro Design Limited, a wholly               
                                   owned subsidiary of the                    
                                   Company. The principal                     
                                   activities of Oro Design are               
                                   design, manufacturing and                  
                                   distribution of jewellery and              
                                   related accessories                        
    `Listing Rules'                Rules Governing the Listing                
                                   of Securities on the Stock                 
                                   Exchange                                   
    `Management Service Agreement' a management service                       
                                   agreement dated 15 December                
                                   1997 entered between                       
                                   EganaGoldpfeil and the                     
                                   Company                                    
    `Merchandise'                  Timepiece and leather                      
                                   products, jewellery products,              
                                   stones, point-of-sales                     
                                   materials, gift items,                     
                                   packaging boxes, etc.                      
    `PCIM'                         P.C. International Marketing               
                                   Limited, a wholly owned                    
                                   subsidiary of EganaGoldpfeil.              
                                   The principal activity of                  
                                   PCIM is the licensing of                   
                                   watches and jewellery                      
                                   trademarks/brandnames                      
    `Shareholders'                 Shareholders of the Company                
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong Limited                               
    `Trademark License and         a trademark license and                    
    Assignment                     assignment agreement between               
    Agreement'                     PCIM and EIPL dated 16                     
                                   October 1997                               
    `Trademark Transactions'       The transactions in                        
                                   connection with the Trademark              
                                   License and Assignment                     
                                   Agreement                                  
    `Trading Transactions'         the sale of jewellery and                  
                                   related accessories by the                 
                                   Group to EganaGoldpfeil Group              
                                   and the purchase from                      
                                   EganaGoldpfeil Group of                    
                                   marketing and packaging                    
                                   materials for products under               
                                   common brands held by the                  
                                   Group and EganaGoldpfeil                   
                                   Group                                      
    `Trading Transactions          a Master Supply Agreement and              
    Agreements'                    a Service Agreement entered                
                                   into between EganaGoldpfeil                
                                   Group and the Group in                     
                                   respect of the Trading                     
                                   Transactions                               
    `Zeitmesstechnik'              Zeitmesstechnik GmbH, a                    
                                   wholly-owned subsidiary of                 
                                   EganaGoldpfeil. The principal              
                                   activities of Zeitmesstechnik              
                                   are the provision of repair                
                                   and maintenance services for               
                                   timepieces, jewellery and                  
                                   leather                                    
                                   products                                   
                                                                              
                                                                              
                                                                              
    As at the date of this announcement, the Board comprises Mr.              
    Hans-Joerg SEEBERGER, Mr. Peter Ka Yue LEE, Mr. Michael Richard POIX,     
    Mr. Ho Yin CHIK, Mr. David Wai Kwong WONG, Mr. Shunji SAEKI and Mr.       
    Michael BOMMERS as executive directors and Mr. Charles Cho Chiu SIN,      
    Mr. Eduardo Tang Lung LAU and Professor Zhengfu WANG as independent       
    non-executive directors.                                                  
                                                                              
                                                                              
                                                                              
    By Order of the Board                                                     
    David Wai Kwong WONG                                                      
    Company Secretary                                                         
                                                                              
    Hong Kong, 13 April 2005