09:49 MAE HOLDINGS<00851> - Announcement (3) (ii) with effect from 9:30 a.m. on Wednesday, 1st June, 2005, the original counter will re-open for trading in the Consolidated Shares in board lot of 20,000 Consolidated Shares. Only new pink share certificates for the Consolidated Shares can be traded at this counter; (iii) with effect from 9:30 a.m. on Wednesday, 1st June, 2005 to 4:00 p.m. on Wednesday, 22nd June, 2005 (both dates inclusive), there will be parallel trading at the counters mentioned in (i) and (ii) above; and (iv) the temporary counter for trading in the Consolidated Shares represented by the existing blue share certificates in the board lot of 1,000 Consolidated Shares will be removed after the close of trading on Wednesday, 22nd June, 2005. Thereafter, trading will only be in Consolidated Shares represented by new pink share certificates in board lot of 20,000 Consolidated Shares and the existing blue share certificates for the Existing Shares will cease to be marketable and will not be acceptable for dealing and settlement purposes. Subject to the Capital Reorganisation becoming effective on or about Tuesday, 17th May, 2005, Shareholders may, during Wednesday, 18th May, 2005, to Monday, 27th June, 2005 (both dates inclusive), submit existing blue share certificates for the Existing Shares to the Registrar in exchange, at the expense of the Company, for new pink share certificates for the Consolidated Shares (on the basis of 20 Existing Shares for one Consolidated Share). Thereafter, certificates for the Existing Shares will be accepted for exchange only on payment of a fee of HK$2.50 (or such higher amount as may from time to time be allowed by the Stock Exchange) for each share certificate for the Existing Shares cancelled or each new share certificate issued for the Consolidated Shares, whichever number of certificates cancelled/issued is higher. Nevertheless, certificates for the Existing Shares will continue to be good evidence of legal title and may be exchanged for certificates for the Consolidated Shares at any time. It is expected that new certificates for the Consolidated Share will be available for collection within 10 business days after the submission of the existing share certificates for the Existing Shares to the Registrar for exchange. Unless otherwise instructed, new share certificates will be issued in board lot of 20,000 Consolidated Shares each. New share certificates for the Consolidated Shares will be pink in colour to distinguish them from the existing share certificates for the Existing Shares which are blue in colour. Odd lots of Consolidated Shares may arise as a result of the Share Consolidation. In order to alleviate the difficulties in trading odd lots of Consolidated Shares, the Company has appointed South China Securities Limited to act as the agent to match, on a "best effort" basis, the sale and purchase of odd lots of Consolidated Shares arising from the Share Consolidation from Wednesday, 1st June, 2005 up to and including Wednesday, 22nd June, 2005. Such arrangement is to facilitate Shareholders who wish to dispose of or top up their odd lots of Consolidated Shares. Shareholders who wish to take advantage of this facility should contact Mr. Francis Wu of South China Securities Limited at 28th Floor, Bank of China Tower, 1 Garden Road, Central, Hong Kong (Tel: 2845-6636) during the aforesaid period. Shareholders should note that the matching of the sale and purchase of odd lots of Consolidated Shares is not guaranteed. Shareholders are recommended to consult their licensed securities dealers, bank managers, solicitors, professional accountants or other professional advisers if they are in any doubt about the facility described above. GENERAL As at the date of this announcement, the Board comprises six Directors, of whom (i) three are executive Directors, namely Mr. Lo Wai Shing, Felix who is also the Chairman and Managing Director of the Company, Mr. Lau Kevin and Ms. Leung Wai Kuen, Cerene; and (ii) three are independent non-executive Directors, namely Mr. Chu Chin Fan, Mr. Yeong Yun Hong, Gary and Ms. Yan Po Kwan. By Order of the Board MAE Holdings Limited Lo Wai Shing, Felix Chairman Hong Kong, 22nd April, 2005 The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, the opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.