09:40     APPLIED INT'L<00519>-Announcement & Resumption of Trading-3         

    In this announcement, unless the context requires otherwise, the          
    following terms have the meanings set out below:                          
    "Board"  the board of Directors of the Company;                           
                                                                              
    "Club/Residences"  "Ritz-Carlton Club" fractional ownership units and     
    /or other "Ritz-Carlton" hotel branded real estate to be developed on     
    the Site;                                                                 
                                                                              
    "Company"  Applied International Holdings Limited, a company              
    incorporated in Bermuda and the shares of which are listed on the Stock   
    Exchange;                                                                 
                                                                              
    "Directors"  the directors of the Company;                                
                                                                              
    "Group"  the Company and its subsidiaries;                                
                                                                              
    "HK$"  Hong Kong dollars, the lawful currency of Hong Kong;               
                                                                              
    "Heads of Agreement"  the heads of agreement entered into between         
    Quorum Island and Ritz Carlton Hotel dated 11th April, 2005;              
                                                                              
    "Hotel"  a luxury class international resort hotel of approximately 190   
    rooms made up of a 120-key core hotel and approximately 40 two bedroom    
    condominiums that will be sold to third party investors on a rental       
    pool scheme, an 18-hole championship golf course, a spa, and other        
    related facilities to be developed on the Site:                           
                                                                              
    "Hong Kong"  The Hong Kong Special Administrative Region of the           
    People's Republic of China;                                               
                                                                              
    "Independent Third Party"  a person who, to the best of the Directors'    
    knowledge, information and belief, having made all reasonable             
    enquiries, is independent of the Company and its subsidiaries, their      
    directors, chief executives and substantial shareholders or their         
    respective associates (as that term is defined in the Listing Rules)      
    and who is not a connected person of the Company (as that term is         
    defined in the Listing Rules);                                            
                                                                              
    "Listing Rules"  The Rules Governing the Listing of Securities on the     
    Stock Exchange;                                                           
                                                                              
    "Quorum Island"  Quorum Island (BVI) Ltd, a company incorporated in the   
    British Virgin Islands and a wholly owned subsidiary of the Company;      
                                                                              
    "Ritz Carlton"  Ritz Carlton Hotel Company, Ltd., and Independent Third   
    Party;                                                                    
                                                                              
    "Site"  a site of approximately 640 acres located at Beef Island,         
    Tortola, the British Virgin Islands; and                                  
                                                                              
    "Stock Exchange"  The Stock Exchange of Hong Kong Limited.                
                                                                              
    By order of the board                                                     
    Applied International Holdings Limited                                    
    Hung Kin Sang, Raymond                                                    
    Chairman                                                                  
                                                                              
                                                                              
    Hong Kong, 19th April, 2005