09:28 <00201>, <00219> & <00253>-Joint Announcement & Resume (2) into the S&P Agreement. Even if Shun Ho Resources were not able to negotiate the inclusion of such condition into the S&P Agreement, Shun Ho Resources will ensure that an extraordinary general meeting of Shun Ho Resources will be convened prior to Completion of the Disposal, whereby Mr. William Cheng Kai Man, the Chairman of the board of directors of Shun Ho Resources, who is in control of more than 50% of the voting rights of Shun Ho Resources, will exercise his voting rights so as to ensure that the resolution for approval the Disposal and the transactions contemplated thereunder will be duly passed. Further, Shun Ho Resources is confident that it will obtain such shareholders' approval, since Trillion Resources Limited (which is wholly-owned by Mr. William Cheng Kai Man), beneficially owns 154,006,125 Shun Ho Resources Shares, representing approximately 50.6% of the nominal value of the securities giving the right to attend and vote at general meetings, has already confirmed that it would vote in favour of any resolution to approve the Disposal. Trillion Resources Limited or its associates do not have any interest in the Disposal which is different from those of other Shun Ho Resources Shareholders. The board of directors of Shun Ho Resources will therefore convene an extraordinary general meeting of the Shun Ho Resources Shareholders to approve the Disposal, at which no shareholders are required to abstain from voting. In the circumstances, at the extraordinary general meeting of the Shun Ho Resources Shareholders, the shareholder who has given written confirmation that it will exercise its voting rights so as to ensure that the resolution for approving the Disposal and the transactions contemplated thereunder will be duly passed. Shun Ho Resources will ensure that it will obtain such shareholders' approval at the extraordinary general meeting of the Shun Ho Resources Shareholders before proceeding to Completion of the Disposal. The Disposal as contemplated by the Provisional Agreement also constitutes a discloseable transaction for Magnificent Estates under Chapter 14 of the Listing Rules. Separate circulars containing further information on the Disposal and other information as required under the Listing Rules will be despatched to the respective Magnificent Estates Shareholders and Shun Ho Technology Shareholders for information purposes as soon as practicable. A circular containing further particulars of the Disposal, other information as required under the Listing Rules together with notice of the extraordinary general meeting of the Shun Ho Resources Shareholders will be despatched to the Shun Ho Resources Shareholders as soon as practicable. At the request of the Companies, trading in the Magnificent Estates Shares, Shun Ho Technology Shares and Shun Ho Resources Shares on the Stock Exchange have been suspended from 9:30 a.m. on 14 April 2005 pending the release of this announcement. Application has been made by the Companies to the Stock Exchange for resumption of trading in the Magnificent Estates Shares, Shun Ho Technology Shares and Shun Ho Resources Shares on the Stock Exchange with effect from 9:30 a.m. on 26 April 2005. PROVISIONAL AGREEMENT Date: 13 April 2005 Parties: (i) Silver Courage Company Limited as the vendor (ii) Bright Concord Holdings Limited, an Independent Third Party as the purchaser The Vendor (being the registered owner of the Property) is a direct wholly-owned subsidiary of Magnificent Estates. To the best of the knowledge, information and belief of the Boards, after making all reasonable enquiries, as at the date of the Provisional Agreement and as at the date of this announcement, the Purchaser and the ultimate beneficial owners of the Purchaser are Independent Third Parties. The sale and purchase Under the Provisional Agreement (being a binding agreement between the Vendor and the Purchaser having full legal effects), the Vendor and the Purchaser will be obliged to enter into the S&P Agreement on or before 27 April 2005. The Property The Property comprises ALL THAT piece or parcel of ground situate lying and being at Hong Kong and registered in the Land Registry as RURAL