10:19     PREMIUM LAND<02971> - Announcement (3)                              

    (Notes 2, 3, 4 & 5)             %               (Notes 2, 3, 4 & 5)       
            %               (Notes 2, 3, 4 & 5)             %           (Notes
    2, 3, 4                                                                   
    & 5)            %               (Notes 2, 3, 4 & 5)             %         
                                                                              
    United Jumbo Limited (Note 1)   51,523,417              15.87             
            51,523,417              14.67           51,523,417                
    12.78                                                                     
            51,523,417              10.71           51,523,417           9.66 
                                                                              
    Peakhill Investments                                                      
      Limited       54,000,000              16.63           54,000,000        
            15.38           54,000,000              13.39           54,000,000
                                                                              
            11.22           54,000,000              10.13                     
                                                                              
    Willplus Assets Limited -               0               26,500,000        
            7.55            26,500,000              6.57            26,500,000
                                                                              
            5.51            26,500,000              4.97                      
                                                                              
    CB Subscribers                                                            
      Centar Investments    -               0               -               0 
                 -                                                            
            0               31,200,000              6.48            31,200,000
                 5.85                                                         
                                                                              
      Shepherd Investments  5,239,500               1.61                      
            5,239,500               1.48            5,239,500            1.30 
                                                                              
            75,439,500              15.68           75,439,500                
    14.15                                                                     
                                                                              
      Stark Asia    3,143,500               0.97            3,143,500         
            0.90            3,143,500               0.78            22,643,500
                                                                              
            4.70            22,643,500              4.25                      
                                                                              
      Stark International   2,095,500               0.65                      
            2,095,500               0.60            2,095,500            0.52 
                                                                              
            11,195,500              2.33            11,195,500           2.10 
                                                                              
                                                                              
    Subtotal        10,478,500              3.23            10,478,500        
         2.98                                                                 
            10,478,500              2.60            140,478,500               
    29.19                                                                     
            140,478,500             26.35                                     
                                                                              
    Placees of the Underwritten                                               
      Convertible Notes     -               0               -               0 
                                                                              
            52,000,000              12.90           -               0         
         52,000,000                                                           
            9.75                                                              
                                                                              
    Public  208,684,381             64.27           208,684,381               
    59.42                                                                     
            208,684,381             51.76           208,684,381               
    43.37                                                                     
            208,684,381             39.14                                     
                                                                              
    Total   324,686,298             100.00          351,186,298               
            100.00          403,186,298             100.00      481,186,298   
                                                                              
            100.00          533,186,298             100.00                    
                                                                              
    Notes:                                                                    
                                                                              
    1.      United Jumbo Limited is wholly and beneficially                   
    owned by Mr. Dong Bo, Frederic, the executive                             
    Director.                                                                 
                                                                              
    2.      Upon capital reorganisation of the Company, (the                  
    "Capital Reorganisation") which involves, inter alia,                     
    the share consolidation (the "Share Consolidation")                       
    of every 20 issued shares of HK$0.01 each (the "Old                       
    Shares") into one ordinary share of HK$0.20 each (the                     
    "Consolidated Share") followed by capital reduction                       
    of the nominal value of the Consolidated Shares from                      
    HK$0.20 each to HK$0.01 each (the "New Share") as set                     
    out in details in the Company's circular dated 14                         
    March 2005 becoming effective on 7 April 2005, New                        
    Shares became effective.                                                  
                                                                              
    3.      Upon the Capital Reorganisation becoming                          
    effective on 7 April 2005, the number of Subscription                     
    Shares to be issued to the Share Subscriber, has                          
    adjusted from 530,000,000 Old