09:47     INTERCHINA HOLD<00202> - Announcement (1)                           

    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.                                                             
                                                                              
                                                                              
    INTERCHINA HOLDINGS COMPANY LIMITED                                       
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 202)                                                         
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
                                                                              
                                                                              
    On 23 April 2005, the Company entered into the Disposal Agreement         
    in relation to the disposal of 60% interests in Money Capture             
    at an aggregate consideration of HK$137,000,000, which shall              
    be satisfied by the Purchaser in cash.                                    
                                                                              
    The Purchaser is, to the best of the Directors' knowledge,                
    information and belief having made all reasonable enquiries,              
    a third party independent of the Group and its connected persons          
    (as defined in the Listing Rules).                                        
                                                                              
    Money Capture is an investment holding company and its principal          
    asset is its interests in the Property, which is held as an               
    investment property by Equal Smart (a wholly-owned subsidiary             
    of Money Capture).                                                        
                                                                              
    Completion took place immediately upon the signing of the                 
    Disposal Agreement.                                                       
                                                                              
    The Disposal constitutes a discloseable transaction of the                
    Company under the Listing Rules. A circular containing, among             
    other matters, details of the Disposal and information of the             
    Group will be dispatched to the Shareholders within 21 days after         
    the date of this announcement.                                            
                                                                              
    THE DISPOSAL AGREEMENT                                                    
                                                                              
    Date            :       23 April 2005                                     
                                                                              
    Parties :                                                                 
                                                                              
    (1)     Vendor  :       the Company                                       
                                                                              
    (2)     Purchaser       :       Mr. Li Gong Tao (*), who, to the best of  
    the Directors' knowledge, information and belief having made all          
    reasonable enquiries, is a third party independent of the Group           
    and its connected persons (as defined in the Listing Rules)               
                                                                              
    Assets disposed                                                           
                                                                              
    Pursuant to the Disposal Agreement, the Company had disposed              
    of 60% interests in Money Capture to the Purchaser. The principal         
    asset of Money Capture is its interests in the Property, which            
    is held as an investment property by Equal Smart.                         
                                                                              
    Consideration                                                             
                                                                              
    The consideration of the Disposal is HK$137,000,000, which shall          
    be payable as follows:                                                    
                                                                              
    (a)     HK$20,000,000 shall be payable by the Purchaser to the Company    
    within seven business days after the date of the Disposal                 
    Agreement;                                                                
                                                                              
    (b)     HK$50,000,000 shall be payable by the Purchaser to the Company    
    within six months after the date of the Disposal Agreement; and