09:05     VC HOLDINGS<08101> - Unusual price movement                         

                                                                              
    The Stock Exchange of Hong Kong Limited takes no responsibility           
    for the contents of this announcement, makes no representation            
    as to its accuracy or completeness and expressly disclaims any            
    liability whatsoever for any loss howsoever arising from or               
    in reliance upon the whole or any part of the contents of this            
    announcement.                                                             
                                                                              
    VALUE CONVERGENCE HOLDINGS LIMITED                                        
    (Incorporated in Hong Kong with limited liability)                        
    Website: http://www.valueconvergence.com                                  
    (Stock Code: 8101)                                                        
                                                                              
    UNUSUAL MOVEMENTS IN SHARE PRICE                                          
                                                                              
    This announcement is made at the request of The Stock Exchange            
    of Hong Kong Limited. The board of directors (the "Board") of             
    Value Convergence Holdings Limited (the "Company") has noted              
    the recent decrease in share price of the Company and wishes              
    to state that, save for the matter covered by the Company's               
    clarification announcement dated 14th April, 2005, the Board              
    is not aware of any reasons for such decrease.                            
                                                                              
    The Board also confirms that there are no negotiations or                 
    agreements relating to intended acquisitions or realisations              
    which are discloseable under Chapters 19 and 20 of the Rules              
    Governing the Listing of Securities on the Growth Enterprise              
    Market (the "GEM Listing Rules"), neither is the Board aware              
    of any matter discloseable under the general obligation                   
    imposed by rule 17.10 of the GEM Listing Rules, which is or               
    may be of a price-sensitive nature.                                       
                                                                              
    Made by order of the Board of the Company, the directors of               
    which collectively and individually accept responsibility for             
    the accuracy of this announcement.                                        
                                                                              
    As at the date hereof, the executive directors of the Company             
    are Dr. Stanley Ho, Mr. Lawrence                                          
    Ho and Dr. Lee Jun Sing; the independent non-executive                    
    directors are Attorney Patajo-Kapunan,                                    
    Lorna, Mr. Sham Sui Leung, Daniel and Dr. Tyen Kanhee, Anthony.           
                                                                              
    By Order of the Board                                                     
    Value Convergence Holdings Limited                                        
    Samuel Tsang                                                              
    Company Secretary                                                         
                                                                              
    Hong Kong, 20th April, 2005                                               
                                                                              
    This announcement, for which the directors of VALUE                       
    CONVERGENCE HOLDINGS LIMITED collectively and individually                
    accept full responsibility, includes particulars given in                 
    compliance with the Rules Governing the Listing of Securities             
    on the Growth Enterprise Market of The Stock Exchange of Hong             
    Kong Limited for the purpose of giving information with regard            
    to VALUE CONVERGENCE HOLDINGS LIMITED. The directors of VALUE             
    CONVERGENCE HOLDINGS LIMITED, having made all reasonable                  
    enquiries, confirm that, to the best of their knowledge and               
    belief: (i) the information contained in this announcement is             
    accurate and complete in all material respects and not                    
    misleading; (ii) there are no other matters the omission of               
    which would make any statement in this announcement misleading;           
    and (iii) all opinions expressed in this announcement have been           
    arrived at after due and careful consideration and are founded            
    on bases and assumptions that are fair and reasonable.                    
                                                                              
    This announcement will remain on the GEM website at                       
    www.hkgem.com on the "Latest Company Announcements" page for              
    at least 7 days from the date of its posting and on the website           
    of the Company at www.valueconvergence.com.