09:09     YONGLONG<08211> - Announcement                                      

                                                                              
    This announcement is for information purpose only and does not            
    constitute an invitation or offer to acquire, purchase or subscribe       
    for securities.                                                           
                                                                              
    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.               
                                                                              
    ZHEJIANG YONGLONG ENTERPRISES CO., LTD.*                                  
    (a joint stock limited company incorporated in the People's Republic      
    of China)                                                                 
    (Stock Code: 8211)                                                        
                                                                              
    ANNOUNCEMENT                                                              
    CONTINUING CONNECTED TRANSACTIONS                                         
                                                                              
    Following completion of the Subscription on 24 March, 2005, Miroglio      
    became a substantial shareholder and connected person of the Company      
    within the meaning of the GEM Listing Rules.  Any transactions            
    entered into between the Company and Miroglio will constitute             
    connected transactions of the Company.The Company has been providing      
    Textiles Products to Miroglio.  The provision of the Textiles Products    
    have been conducted in the ordinary and usual course of business of       
    the Company and are on normal commercial terms. It is expected that       
    the amount involved under the Continuing Connected Transactions for       
    the period from 24 March, 2005 to 31 December, 2005 will exceed 2.5%      
    of the Percentage Ratios but will not exceed 25% of the Percentage        
    Ratios and is less than HK$10,000,000, the Continuing Connected           
    Transactions are therefore subject to reporting and announcement          
    requirements under Rule 20.34 of the GEM Listing Rules and are exempt     
    from the independent shareholders' approval requirements.                 
                                                                              
    By Order of the Board                                                     
    Sun Li Yong                                                               
    Chairman                                                                  
                                                                              
    Zhejiang, the PRC,15 April, 2005                                          
                                                                              
    This announcement, for which the directors of the Company collectively    
    and individually accept full responsibility, includes particulars given   
    in compliance with the Rules Governing the Listing of Securities on GEM   
    for the purpose of giving information with regard to the issuer.  The     
    directors of the Company, 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.                                 
                                                                              
    This announcement will remain on the "Latest Company Announcement"        
    page of the GEM website for at least 7 days from the date of its          
    publication.                                                              
                                                                              
    The above announcement is a summary only. For the full version of this    
    announcement, please refer to the open code "Latest Company               
    Announcements" page on the GEM website at www.hkgem.com.                  
                                                                              
    * For identification purposes only