09:27     SINO-I TECH<00250> - Announcement (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.                                                             
                                                                              
    SINO-I TECHNOLOGY LIMITED                                                 
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 250)                                                         
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
                                                                              
    On 18 April 2005, the Company as vendor, Long Success Group               
    Limited as purchaser and Mr. Yu as guarantor entered into the             
    Agreement for the disposal of the entire issued share capital             
    of each of South Port and First Foundation, both wholly owned             
    subsidiaries of the Company, for a total cash consideration of            
    RMB212,000,000.                                                           
                                                                              
    The Disposal constitutes a discloseable transaction for the               
    Company under rule 14.06(2) of the Listing Rules. A circular              
    containing details of the Disposal will be sent to the                    
    shareholders of the Company as soon as practicable.                       
                                                                              
    AGREEMENT                                                                 
                                                                              
    Date:   18 April 2005                                                     
                                                                              
    Parties:                                                                  
                                                                              
    Vendor: The Company                                                       
                                                                              
    Purchaser:      Long Success Group Limited. To the best of the            
    Directors' knowledge, information and belief having made all              
    reasonable enquiry, the Purchaser and its ultimate beneficial             
    owner are third parties independent of the Company and connected          
    persons of the Company                                                    
                                                                              
    Guarantor:      Mr. Yu                                                    
                                                                              
    Principal Provisions of the Agreement:                                    
                                                                              
    1.      Subject to and upon the terms and conditions of the Agreement,    
    the Company agreed to dispose of and the Purchaser agreed to              
    acquire the entire issued share capital of each of South Port             
    and First Foundation at a total cash consideration of                     
    RMB212,000,000.                                                           
                                                                              
    2.      Mr. Yu has also given a personal guarantee to the Purchaser       
    in respect of the Proceedings (as defined and described below),           
    the principal terms of which are described in the section headed          
    "Acesite" below.                                                          
                                                                              
    Information relating to assets to be disposed of:                         
                                                                              
    (1)     South Port                                                        
                                                                              
    South Port is a company incorporated in the British Virgin                
    Islands and a wholly owned subsidiary of the Company. As at the           
    date of this announcement, South Port holds the entire issued             
    share capital of Acesite and 40% of the total issued stock capital        
    of CIMA Realty. Other than such interests, South Port holds no            
    other assets.                                                             
                                                                              
    Based on the management accounts, the net asset value of South            
    Port and its subsidiaries as at 30 June 2004, 31 December 2003            
    and 31 March 2003 were approximately HK$78,152,000,                       
    HK$72,513,000 and HK$55,232,000 respectively. The net profit              
    of South Port and its subsidiaries before and after taxation              
    and extraordinary items for the six months ended 30 June 2004             
    was approximately HK$8,491,030 and HK$5,608,654 respectively.             
    The net profit before and after net