09:31     VC HOLDINGS<08101> - 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.                                                     
                                                                              
    VALUE CONVERGENCE HOLDINGS LIMITED                                        
    (Incorporated in Hong Kong with limited liability)                        
    Website: http://www.valueconvergence.com                                  
    Stock code: 8101                                                          
                                                                              
    CLARIFICATION ANNOUNCEMENT                                                
                                                                              
    The purpose of this announcement is to clarify recent                     
    press articles which reported that the Group is                           
    currently considering to establish a fund to invest                       
    in Macau projects.                                                        
                                                                              
    As at the date hereof, the executive directors of the                     
    Company are Dr. Stanley Ho, Mr. Lawrence Ho and Dr.                       
    Lee Jun Sing; the independent non-executive directors                     
    are Attorney Patajo-Kapunan, Lorna, Mr. Sham Sui Leung,                   
    Daniel and Dr. Tyen Kanhee, Anthony.                                      
                                                                              
    By order of the board of                                                  
    Value Convergence Holdings Limited                                        
    Ho, Lawrence Yau Lung                                                     
    President and Vice Chairman                                               
                                                                              
    Hong Kong, 14th April, 2005.                                              
                                                                              
    This announcement, for which the directors of VALUE                       
    CONVERGENCE HOLDINGS LIMITED collectively and                             
    individually accept full responsibility, includes                         
    particulars given in compliance with the Rules                            
    Governing the Listing of Securities on the Growth                         
    Enterprise Market of The Stock Exchange of Hong Kong                      
    Limited for the purpose of giving information with                        
    regard to VALUE CONVERGENCE HOLDINGS LIMITED. The                         
    directors of VALUE CONVERGENCE HOLDINGS LIMITED,                          
    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.                    
                                                                              
    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 http://www.hkgem.com.