09:08     GRANDY CORP<08143> - 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.                                                     
                                                                              
    Grandy Corporation                                                        
    (incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock code: 8143)                                                        
                                                                              
    PROPOSED CONSOLIDATION OF SHARES AND                                      
    CHANGE OF BOARD LOT SIZE                                                  
                                                                              
    The Board proposes that every 5 Shares of HK$0.01 each                    
    in the issued and unissued share capital of the                           
    Company be consolidated into one Consolidated Share                       
    of HK$0.05 in the issued and unissued share capital                       
    of the Company. As at the date of this Announcement,                      
    there were 1,390,401,667 Shares of HK$0.01 each in                        
    issue and fully paid or credited as fully paid.                           
    Assuming no further Shares will be issued from the                        
    date of this Announcement up to the date of the EGM,                      
    there will be 278,080,333 Consolidated Shares of                          
    HK$0.05 each in issue and fully paid or credited as                       
    fully paid following the Share Consolidation.                             
                                                                              
    The Board also proposes that the Consolidated Shares                      
    will be traded in board lots of 20,000. Based on the                      
    closing price of HK$0.03 per Share as at the date of                      
    this Announcement, the value of each board lot of                         
    20,000 Consolidated Shares, assuming the Share                            
    Consolidation had already been effective, would be                        
    HK$3,000.                                                                 
                                                                              
    The Circular containing, among other things,                              
    information as regards the Share Consolidation and                        
    the change of board lot size, together with a notice                      
    convening the EGM, will be despatched to Shareholders                     
    as soon as practicable.                                                   
                                                                              
    By order of the Board of                                                  
    Grandy Corporation                                                        
    Chan Hon Chiu                                                             
    Executive Director                                                        
                                                                              
    Hong Kong, 14 April 2005                                                  
                                                                              
    As at the date of this Announcement, the executive                        
    Directors are Mr. Chan Hon Chiu, Mr. Yeung Kam Yan                        
    and Mr. Yung Kwok Leong and the independent                               
    non-executive Directors are Mr. Hsu Shiu Foo, William,                    
    Mr. Yu Chai Mei and Mr. Chan Ping Kuen, Francis.                          
                                                                              
    This Announcement, for which the Directors                                
    collectively and individually accept full                                 
    responsibility, includes particulars given in                             
    compliance with the GEM Listing Rules 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: (1) the information contained in this                             
    Announcement is accurate and complete in all material                     
    respects and not misleading; (2) there are no other                       
    matters the omission of which would make any statement                    
    in this Announcement misleading; and (3) 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.                    
                                                                              
    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.