09:30     <00201>, <00219> & <00253>-Joint Announcement & Resume (7)          

    Resources Shares on the Stock Exchange with effect from 9:30 a.m. on 26   
    April 2005.                                                               
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, the following expressions have the following        
    meanings, unless the context requires otherwise:                          
                                                                              
    "associate(s)"  has the meaning ascribed to it under the Listing Rules    
                                                                              
    "Boards"  the board of Directors of the respective Companies              
                                                                              
    "Companies"  Magnificent Estates, Shun Ho Technology and Shun Ho          
    Resources                                                                 
                                                                              
    "Completion"  the completion of the Disposal pursuant to the terms and    
    conditions of the S&P Agreement                                           
                                                                              
    "Completion Date"  27 July 2005                                           
                                                                              
    "Consideration"  the consideration payable by the Purchaser for the       
    Property                                                                  
                                                                              
    "Director(s)"  director(s) of the Companies                               
                                                                              
    "Groups"  Magnificent Estates Group, Shun Ho Technology Group and Shun    
    Ho Resources Group                                                        
                                                                              
    "Hong Kong"  The Hong Kong Special Administrative Region of the PRC       
                                                                              
    "Independent Third Party(ies)"  an independent third party(ies) which     
    is not connected with the chief executive, directors and substantial      
    shareholders of the Companies or any of their respective subsidiaries     
    and their respective associates                                           
                                                                              
    "Listing Rules"  the Rules Governing the Listing of Securities on the     
    Stock Exchange                                                            
                                                                              
    "Magnificent Estates"  Magnificent Estates Limited (*), a                 
    company incorporated in Hong Kong with limited liability, the shares of   
    which are listed on the Stock Exchange                                    
                                                                              
    "Magnificent Estates Group"  Magnificent Estates and its subsidiaries     
                                                                              
    "Magnificent Estates Share(s)"  share(s) of HK$0.01 each in the share     
    capital of Magnificent Estates                                            
                                                                              
    "Magnificent Estates Shareholder(s)"  holder(s) of Magnificent Estates    
    Shares                                                                    
                                                                              
    "PRC"  The People's Republic of China, which for the purpose of this      
    announcement, excludes Hong Kong, the Macau Special Administrative        
    Region and Taiwan                                                         
                                                                              
    "Property"  ALL THAT piece or parcel of ground situate lying and being    
    at Hong Kong and registered in the Land Registry as RURAL BUILDING LOT    
    NO. 398 TOGETHER with the messuages erections and buildings thereon now   
    known as No. 72 Mount Kellett Road (formerly known as No.164 The Peak)    
    Hong Kong                                                                 
                                                                              
    "Provisional Agreement"  the provisional agreement entered into between   
    the Vendor and the Purchaser on 13 April 2005                             
                                                                              
    "Purchaser"  Bright Concord Holdings Limited, an Independent Third Party  
                                                                              
    "S&P Agreement"  the formal sale and purchase agreement to be entered     
    into between the Vendor and the Purchaser in relation to the Disposal     
                                                                              
    "Shun Ho Resources"  Shun Ho Resources Holdings Limited (*), a            
    company incorporated in Hong Kong with limited liability, the shares of   
    which are listed on the Stock Exchange                                    
                                                                              
    "Shun Ho Resources Group"  Shun Ho Resources and its subsidiaries         
                                                                              
    "Shun Ho Resources Share(s)"  share(s) of HK$0.50 each in the share       
    capital of Shun Ho Resources                                              
                                                                              
    "Shun Ho Resources Shareholder(s)"  holder(s) of Shun Ho Resources        
    Shares                                                                    
                                                                              
    "Shun Ho Technology"  Shun Ho Technology Holdings Limited *, a            
    company incorporated in Hong Kong with limited liability, the shares of   
    which are listed on the Stock Exchange