09:31     FIRST DRAGONCOM<00875> - Announcement & Resumption (5)              

    USE OF PROCEEDS                                                           
                                                                              
    The net proceeds receivable by the Company under the Issue are            
    estimated to be approximately HK$19,500,000. The business of the          
    Group is agricultural in nature and it is presently intended that         
    such net proceeds will be applied for diversifying the business           
    of the Group.  However, the Company has not yet formulated any            
    concrete plan or identified any project for acquisition.                  
                                                                              
    GENERAL                                                                   
                                                                              
    A SGM will be held for the purposes of approving the Agreement,           
    the Instrument, the allotment and issue of any Shares in the              
    capital of the Company which may fall to be allotted and issued           
    upon the exercise of conversion rights attached to the Instrument         
    and the transaction(s) contemplated therein in accordance with            
    Rule 13.36(1)(a) of the Listing Rules. A circular containing,             
    amongst other things, details of the Issue and a notice to convene        
    the SGM, will be dispatched to the Shareholders as soon as                
    practicable.                                                              
                                                                              
    At the request of the Company, trading in the Shares has been             
    suspended from 9:30 a.m. on 12 April 2005 pending the release of          
    this announcement. Application has been made by the Company to the        
    Stock Exchange for resumption of trading with effect from 9:30 a.m.       
    on 20 April 2005. Shareholders and potential investors are advised        
    to exercise caution when dealing in the Shares.                           
                                                                              
    DEFINITIONS                                                               
                                                                              
    ``Agreement''                                                             
    a conditional agreement dated 11 April 2005 between the Company           
    and Top Strategy in relation to, amongst other things, the                
    subscription and issue of the Bond                                        
                                                                              
    ``Board''                                                                 
    the board of directors of the Company                                     
                                                                              
    ``Bond''                                                                  
    the interest bearing convertible bond due 2006 in the principal           
    amount of HK$20,000,000, each in the denomination of HK$100,000,          
    to be issued pursuant to the Agreement and to be created by the           
    Instrument. If at any time the outstanding amount is less than            
    HK$100,000, the Bond shall be issued in respect of such remaining         
    outstanding amount                                                        
                                                                              
    ``Bondholder(s)''                                                         
    holders of the Bond                                                       
                                                                              
    ``Business Day''                                                          
    the day at which the banks in Hong Kong are opened (except Saturday)      
                                                                              
    ``Company''                                                               
    First Dragoncom Agro-Strategy Holdings Limited, the shares of             
    which are listed on the Stock Exchange                                    
                                                                              
    ``Completion''                                                            
    completion of the Issue on the terms of the Agreement                     
                                                                              
    ``Completion Date''                                                       
    the third Business Day after the fulfillment of all the conditions        
    of the Agreement                                                          
                                                                              
    ``Conversion Shares''                                                     
    Shares which will fall to be allotted and issued upon full                
    conversion of the Bond at the conversion price                            
                                                                              
    ``Dragon Delta''                                                          
    Dragon Delta Limited, a company incorporated in the British Virgin        
    Islands, the entire issued share capital of which is owned by Dr.         
    Hon Fong Ming Perry through Dragoncom Group and Dragoncom (Hong           
    Kong)                                                                     
                                                                              
    ``Group''                                                                 
    the Company and its subsidiaries                                          
                                                                              
    ``HK World''                                                              
    Hong Kong World Chinese Group Limited, a company incorporated in          
    Hong Kong and is owned as to 95% and 5% by Mr. Zhang Xiaoxiong and        
    Mr. Wang Wenbin respectively                                              
                                                                              
    ``HK$''                                                                   
    Hong Kong dollars, the lawful currency for the time being of Hong         
    Kong                                                                      
                                                                              
    ``Hong Kong''                                                             
    the Hong Kong Special Administrative Region of the PRC