10:49     TOMORROW INT'L<00760>&SWANK INT'L MFG<00663>-J.Ann&Resume-3         

    Listing Rules upon Completion. Transactions between the Nominee           
    and the Swank Group will constitute continuing connected                  
    transactions for Swank under the Listing Rules.                           
                                                                              
    General                                                                   
                                                                              
    An independent board committee comprising the independent                 
    non-executive directors of Swank will be appointed to consider            
    the Offer, the Shareholders Agreement, the Loan Restructuring             
    Agreement (including the Guarantee and the Promissory Note) and           
    the Agency Agreement and Barits Securities (Hong Kong) Limited            
    was appointed as the independent financial adviser to advise              
    the independent board committee of Swank and the Independent              
    Shareholders in respect of the terms of the Offer, the                    
    Shareholders Agreement, the Loan Restructuring Agreement                  
    (including the Guarantee and the Promissory Note) and the Agency          
    Agreement.                                                                
                                                                              
    A circular containing, among other things, further details of             
    the Offer, the Shareholders Agreement, the Loan Restructuring             
    Agreement (including the Guarantee and the Promissory Note),              
    the Agency Agreement, the recommendation of the independent               
    board committee of Swank in respect of the Offer, the                     
    Shareholders Agreement, the Loan Restructuring Agreement                  
    (including the Guarantee and the Promissory Note) and the Agency          
    Agreement, the advice of its independent financial adviser in             
    respect of the Offer, the Shareholders Agreement, the Loan                
    Restructuring Agreement (including the Guarantee and the                  
    Promissory Note) and the Agency Agreement and the notice                  
    convening the EGM will be despatched to the shareholders of               
    Swank.                                                                    
                                                                              
    The Disposal and the Loan Restructuring Agreement constitutes             
    a major transaction for TIHL under Chapter 14 of the Listing              
    Rules. A circular containing further details of the Disposal              
    and the Loan Restructuring Agreement will be despatched to the            
    shareholders of TIHL.                                                     
                                                                              
    Shareholders of and potential investors in TIHL should note that          
    the Sale and Purchase Agreement is conditional upon the                   
    fulfillment or waiver of certain conditions. Shareholders of              
    and potential investors in TIHL should therefore exercise                 
    extreme caution when dealing in the securities of TIHL.                   
                                                                              
    Shareholders of and potential investors in Swank should note              
    that the Offer is a possibility only. Shareholders of and                 
    potential investors in Swank should therefore exercise extreme            
    caution when dealing in the securities of Swank.                          
                                                                              
    Resumption of Trading                                                     
                                                                              
    At the request of Swank, the securities of Swank were suspended           
    from trading on the Main Board of the Stock Exchange from 9:30            
    a.m. on 21 January 2005 pending release of this announcement.             
    Swank has made an application for the resumption of trading in            
    the securities of Swank on the Main Board of the Stock Exchange           
    with effect from 9:30 a.m. on 19 April 2005.                              
                                                                              
    At the request of TIHL, the securities of TIHL were suspended             
    from trading on the Main Board of the Stock Exchange from 9:30            
    a.m. on 21 January 2005 pending release of this announcement.             
    TIHL has made an application for the resumption of trading in             
    the securities of TIHL on the Main Board of the Stock Exchange            
    with effect from 9:30 a.m. on 19 April 2005.                              
                                                                              
    1.      SALE AND PURCHASE AGREEMENT (as amended by the Supplemental       
    Agreement)                                                                
                                                                              
    Date