10:55     TOMORROW INT'L<00760>&SWANK INT'L MFG<00663>-J.Ann&Resume-16        

    Yunphos have been continuously improved and refined. Mr. Zhao             
    has guided Yunphos's move towards standardisation. With a heavy           
    workload, he still managed to complete one year of MBA core               
    courses. Mr. Zhao is a PRC citizen.                                       
                                                                              
    Mr. Li Wei, aged 38. In 1988, Mr. Li Wei became the deputy general        
    manager of Golden Dragon Hotel in Kunming, a Hong Kong owned              
    hotel, and accumulated extensive experience in hotel management.          
    Mr. Li joined Yunnan Xinge Group(*) as its general                        
    manager, responsible for planning and investment, in 2000. Since          
    2002, Mr. Li has been the assistant to Mr. Wang. He possesses             
    strong experience in international trade management. Mr. Li is            
    a PRC citizen.                                                            
                                                                              
    The Offeror and parties acting in concert with it, apart from             
    the Vendors and their concert parties, do not have any                    
    shareholding in Swank as at the date of this announcement.                
                                                                              
    6.      INTENTION OF THE OFFEROR REGARDING THE SWANK GROUP                
                                                                              
    Business                                                                  
                                                                              
    Subsequent to Completion, the Offeror will initiate a detailed            
    strategic review of the Swank Group's businesses. The Offeror             
    will formulate business plans and strategies for the Swank Group          
    with a view to consolidate Swank's overall group operations and           
    enhancing the shareholder value of Swank. The Offeror also plans          
    to set up the Trading Company, which will be a wholly-owned               
    subsidiary of Swank, to enter into a new business providing               
    agency services to the Nominee in relation to the sale of the             
    Products to the Territory.                                                
                                                                              
    Directors and management                                                  
                                                                              
    At present, Swank has 5 executive directors and 3 independent             
    non-executive directors. It is intended that with effect from             
    the earliest time permitted under (or pursuant to any                     
    dispensation from) the Takeovers Code or by the Executive, all            
    of the directors of Swank will resign.                                    
                                                                              
    The Offeror expects that such persons as may be nominated by              
    the Offeror will be appointed as executive directors of Swank             
    with effect from the earliest time permitted under (or pursuant           
    to any dispensation from) the Takeovers Code or by the Executive.         
    The new directors, including independent non-executive                    
    directors, whom the Offeror intends to nominate to the board              
    of directors of Swank, have not yet been determined. Such                 
    information will be disclosed when the information is available           
    by way of an announcement.                                                
                                                                              
    Save as disclosed above and other than the proposed new agency            
    business, the Offeror intends that Swank will continue with the           
    existing business of the Swank Group and does not intend to               
    propose or seek any major changes to the existing operations              
    or management of the Swank Group by reason only of the Offer.             
    Up to the date hereof, the Offeror does not have any intention            
    of injecting any assets into the Swank Group. The Offeror                 
    confirms that any future asset injections into the Swank Group            
    will be implemented in accordance with all applicable laws and            
    regulations and the relevant provisions of the Listing Rules.             
                                                                              
    Maintaining the listing of Swank                                          
                                                                              
    It is the intention of the Offeror that the listing of the Shares         
    on the Stock Exchange will be maintained. Accordingly, the                
    Offeror and the new directors to be appointed to the board of             
    directors of Swank will undertake to the Stock Exchange following         
    Completion, to