09:22 CHINA UNITED<00273> - 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. China United International Holdings Limited (Incorporated in Hong Kong with limited liability) (Stock Code: 273) EXPIRY OF EXISTING 2003 WARRANTS #1144 The 2003 Warrants of the Company with stock code: 1144, stock name: CHI UNITED W0505 will expire after the close of business at 4:00 pm on 11th May, 2005. The last trading day of the 2003 Warrants on the Stock Exchange is 6th May, 2005. The latest time to exercise the subscription rights attaching to the 2003 Warrants is 4:00 pm on 11th May, 2005. Application has been made for the withdrawal of listing of the 2003 Warrants on the Stock Exchange will effect from the close of business at 4:00 pm on 11th May, 2005. The last listing day of the 2003 Warrants on the Stock Exchange is 11th May, 2005. The board of directors (`Board') of China United International Holdings Limited (`Company') wishes to remind the holders of the existing outstanding 2003 warrants of the Company with stock code: 1144, stock name: CHI UNITED W0505 (`2003 Warrant(s)') that in accordance with the terms and conditions of the instrument constituting the 2003 Warrants, the subscription rights attached to the 2003 Warrants will expire after the close of business at 4:00 pm on Wednesday, 11th May, 2005. The 2003 Warrants entitle the holders to subscribe in cash for new shares of HK$0.1 each (`Share(s)') in the share capital of the Company at the initial subscription price of HK$0.38 per Share in the proportion of one 2003 Warrant for every one Share until 4:00 p.m. on 11th May, 2005. As previously announced on 31st May, 2004 and 27th October, 2004, the subscription price was adjusted to HK$0.15 and further adjusted to HK$0.14 per Share with effect from 1st June, 2004 and 28th October, 2004 as a result of the bonus issue of shares of the Company set out in an announcements of the Company dated 31st May, 2004 and 27th October, 2004. Any subscription rights attached to the 2003 Warrants which have not been exercised by the close of business at 4:00 p.m. on 11th May, 2005 will lapse and the 2003 Warrant certificates will cease to be valid for any purpose. In respect of the expiry of the 2003 Warrants, the Company has made the following arrangements regarding dealings and transfers of the 2003 Warrants: 1. the last trading day of the 2003 Warrants on The Stock Exchange of Hong Kong Limited (`Stock Exchange') is fixed on 6th May, 2005 and trading of the 2003 Warrants on the Stock Exchange will cease after close of business at 4:00 p.m. on 6th May, 2005. Application has been made for the withdrawal of listing of the 2003 Warrants on the Stock Exchange with effect from the close of business on 11th May, 2005. 2. the registered holders of the 2003 Warrants who wish to exercise the subscription rights attached to the 2003 Warrants must lodge with the share registrars of the Company, Computershare Hong Kong Investor Services Limited (`Registrars') at Shops 1712 - 1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Hong Kong, the followings by not later than 4:00 pm on 11th May, 2005: (i) the relevant certificates of the 2003 Warrants; (ii) the duly completed and signed subscription forms; and (iii) remittances for the relevant subscription moneys. 3. holders of the 2003 Warrants who have not registered their holdings in such 2003 Warrants in their names and wish to exercise the subscription rights attached thereto must lodge with the Registrars at the abovementioned address the followings by not later than 4:00 pm on 11th May, 2005: (i) the relevant duly executed and stamped instruments of transfer and/or other documents of title; (ii) the relevant certificates of the 2003 Warrants; (iii) the duly completed and signed subscription forms; and (iv) remittances for the relevant subscription moneys.