09:33     SIMSEN INT'L<00993> - Announcement (2)                              

    Composite Offer Document and (ii) 31 March 2005, being the date           
    on which the Share Offer became unconditional in all respects.            
                                                                              
    SHAREHOLDING AND PUBLIC FLOAT                                             
                                                                              
    Immediately before the commencement of the Offers, the Offeror            
    and parties acting in concert with it together were interested            
    in 165,370,000 Shares, representing approximately 27.22% of the           
    total issued Shares, and held 2,500,000 Options. After taking             
    into account the valid acceptances received under the Offers              
    since the commencement of the Offers, the Offeror and parties             
    acting in concert with it together will own 319,125,127 Shares,           
    representing approximately 52.53% of the issued Shares and 100%           
    of the Options granted but remaining outstanding as at the date           
    of this announcement. Other than the Shares which have been               
    tendered for acceptance under the Share Offer, the Offeror and            
    parties acting in concert with it did not acquire or agree to             
    acquire any Shares from the commencement of the Offers to the             
    date of this announcement. The balance of 284,472,273 Shares              
    (after excluding the 3,968,600 Shares or approximately 0.65%              
    of the issued Shares as at the date of this announcement held             
    by Directors other than Mr. Cheung), representing approximately           
    46.82% of the issued Shares, which were also subject to the Share         
    Offer but the acceptances of which were not received by the               
    Offeror, are held by the public shareholders. Accordingly the             
    minimum public float requirement of the Listing Rules of not              
    less than 25% of the issued Shares being held in public hands             
    had been satisfied. All the Options which have been tendered              
    for cancellation under the Option Offer and those held by the             
    Offeror and parties acting in concert with it will be cancelled.          
                                                                              
    GENERAL                                                                   
                                                                              
    As at the date of this joint announcement, the Board comprises            
    four executive Directors, namely Mr. Haywood Cheung, Mr. Felipe           
    Tan, Mr. So Pak Kwai and Dr. Chang Si-Chung and three independent         
    non-executive Directors, namely Mr. Chan Ka Ling, Edmond, Mr.             
    Wong Yu Choi and Mr. Hong Po Kui, Martin.                                 
                                                                              
    By order of the board of        By order of the board of                  
    Haywood Shares Holding Limited  Simsen International Corporation Limited  
    Haywood Cheung                  Haywood Cheung                            
    Sole Director                   Chairman and Managing Director            
                                                                              
    Hong Kong, 14 April 2005                                                  
                                                                              
    The Directors jointly and severally accept full responsibility            
    for the accuracy of the information contained in this joint               
    announcement (other than information relating to the Offeror              
    and parties acting in concert with it) and confirm, having made           
    all reasonable enquiries, that to the best of their knowledge,            
    their opinions expressed in this joint announcement have been             
    arrived at after due and careful consideration and there are              
    no other facts not contained in this joint announcement, the              
    omission of which would make any of their statements in this              
    joint announcement misleading.                                            
                                                                              
    The sole director of the Offeror accepts full responsibility              
    for the accuracy of the information contained in this joint               
    announcement (other than information relating to the Group) and           
    confirms, having made all reasonable enquiries, that to the best          
    of his knowledge, his opinions expressed in this joint                    
    announcement have been arrived at after due and careful                   
    consideration and there are no other facts not contained                  
    in this joint announcement, the omission of which would make              
    any of his statements in this joint announcement misleading.