10:05     TSE SUI LUEN<00417> - 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.                                                     
                                                                              
                                                                              
    TSE SUI LUEN JEWELLERY (INTERNATIONAL) LIMITED                            
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 417)                                                         
                                                                              
    Continuing Connected Transaction                                          
                                                                              
                                                                              
    TSLJCL, a wholly-owned subsidiary of the Company has entered              
    into the Consultancy Agreement on 11 April 2005 with                      
    Mr. Tse for the provision of the Services.                                
                                                                              
    As Mr. Tse is a connected person to the Company and                       
    each of the relevant percentage ratios (other than                        
    the profits ratio) set out in Rule 14.07 of the Listing                   
    Rules in respect of the fees payable under the                            
    Consultancy Agreement is, on an annual basis, less                        
    than 2.5% or equal to or more than 2.5% but less than                     
    25% and the annual consideration is less than                             
    HK$10,000,000, the Continuing Connected Transaction                       
    is classified as a continuing connected transaction                       
    under Rule 14A.34 of the Listing Rules and is required                    
    to be disclosed by this announcement and in the                           
    Company's next published annual report, but is exempt                     
    from independent shareholders' approval.                                  
                                                                              
    Summary of Major Terms of the Consultancy Agreement                       
    Date:   11 April 2005                                                     
                                                                              
    Parties:        (i)     TSLJCL                                            
                    (ii)    Mr. Tse                                           
                                                                              
    Effective Date: 1 February 2005                                           
                                                                              
    Termination Date:       31 January 2008 or as otherwise                   
    provided in the Consultancy Agreement                                     
                                                                              
    Nature of Transaction:  Mr. Tse will provide the                          
    Services to the Group.                                                    
                                                                              
    The Services:   Under the Consultancy Agreement, Mr.                      
    Tse shall provide the following services (the                             
    "Services"):                                                              
                                                                              
    (a)     offer advice to the Board in respect of the                       
    maintenance of the key relationships with business                        
    partners of the Group from time to time as necessary;                     
                                                                              
    (b)     assist the Group in maintaining relationships                     
    with key suppliers and major customers;                                   
                                                                              
    (c)     offer advice to the Board in relation to the                      
    quality and design of jewellery products of the Group                     
    and control of jewellery stock;                                           
                                                                              
    (d)     advise the Board in relation to the marketing                     
    and operation of the jewellery business; and                              
                                                                              
    (e)     generally provide the Group with the benefit of                   
    his knowledge, expertise, technical skill and                             
    ingenuity.                                                                
                                                                              
    Fees Payable:   In consideration of the Services to be                    
    rendered by Mr. Tse, TSLJCL shall pay to Mr. Tse a                        
    consultancy fee of HK$160,000 per month plus a                            
    discretionary bonus to be decided at the sole                             
    discretion of TSLJCL. TSLJCL shall consider various