09:36     BUILD KING HOLD<00240>-Announcement&Resumption of Trading(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.                                
                                                                              
    BUILD KING HOLDINGS LIMITED                                               
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 240)                                                         
                                                                              
    MAJOR TRANSACTION                                                         
                                                                              
    FORMATION OF A JOINT VENTURE COMPANY                                      
    AND RESUMPTION OF TRADING                                                 
                                                                              
    Financial adviser                                                         
    Quam Capital Limited                                                      
                                                                              
    The Board wishes to announce that on 14 April 2005, WKCCL                 
    entered into the JV Agreements respectively with PGWX and the             
    JV Partners, pursuant to which WKCCL and the JV Partners                  
    agreed to establish the JV to engage in the Wuxi Project. The             
    JV will be owned as to approximately 95.6% by WKCCL and as to             
    approximately 4.4% by the JV Partners.                                    
                                                                              
    Pursuant to the JV Agreements, the registered capital of the              
    JV will be RMB44.68 million (equivalent to approximately                  
    HK$42.15 million), of which RMB42.68 million (equivalent to               
    approximately HK$40.26 million) and RMB2 million (equivalent              
    to approximately HK$1.89 million) will be contributed by WKCCL            
    in cash and the JV Partners by way of contribution in kind                
    respectively within three months from the issuance of the                 
    business licence of the JV.                                               
                                                                              
    The transaction contemplated under the JV Agreements                      
    constitutes a major transaction for the Company under the                 
    Listing Rules as the Company's contribution under the JV                  
    Agreements exceeds 25% of the average market capitalisation of            
    the Company for the five business days immediately preceding              
    the date of the JV Agreements and is therefore subject to the             
    approval of the Shareholders at a general meeting. The                    
    Directors confirm that, to the best of their knowledge, no                
    Shareholder is required to abstain from voting if the Company             
    convenes a general meeting for the approval of the JV                     
    Agreements. It is expected that written approval will be                  
    received from the controlling shareholder of the Company,                 
    which holds approximately 64.23% of the shareholding of the               
    Company, in lieu of holding a general meeting for this                    
    transaction.                                                              
                                                                              
    A circular containing, among other matters, details of the JV             
    Agreements will be despatched to the Shareholders as soon as              
    practicable.                                                              
                                                                              
    Trading in the Shares on the Stock Exchange has been suspended            
    since 2:30 p.m. on 14 April 2005 pending the release of this              
    announcement. Application has been made to the Stock Exchange             
    for the resumption of trading in the Shares from 9:30 a.m. on             
    15 April 2005.                                                            
                                                                              
    INTRODUCTION                                                              
    The Board wishes to announce that on 14 April 2005, WKCCL                 
    entered into the JV Agreements respectively with PGWX and the             
    JV Partners, pursuant to which WKCCL and the JV Partners                  
    agreed to invest RMB42.68 million (equivalent to approximately            
    HK$40.26 million) and RMB2 million (equivalent to                         
    approximately HK$1.89 million), respectively in the JV.                   
    Pursuant to the JV Agreements, WKCCL and the JV Partners will             
    be interested in approximately 95.6% and approximately 4.4% of            
    the equity interest in the JV respectively.                               
                                                                              
    THE JV AGREEMENTS                                                         
    Date                                                                      
    14 April 2005                                                             
                                                                              
    Parties                                                                   
    (a)   WKCCL, a wholly-owned subsidiary of the Company;                    
                                                                              
    (b)   PGWX; and                                                           
                                                                              
    (c)   the JV Partners, who are jointly and severally liable on            
    terms and conditions stipulated under the JV Agreements.