09:22     CHINA UNITED<00273> - Announcement (2)                              

    Subscription forms lodged with the Registrars later than 4:00 pm on       
    11th May, 2005 will not be accepted. Certificates of Shares for the       
    due exercise of the subscription rights attached to the 2003 Warrants     
    will be issued within 10 days from the date of exercise.                  
                                                                              
    The closing prices of Shares and the 2003 Warrants on the Stock           
    Exchange on 26th April, 2005 (being the date of this announcement)        
    were HK$0.2 and HK0.148 respectively. The exercise price of the 2003      
    Warrants as at the date of this announcement is HK$0.14 per 2003          
    Warrant. Shares to be issued pursuant to the exercise of the              
    subscription rights attached to the 2003 Warrants will, when issued,      
    rank pari passu in all respects with the then existing issued             
    Shares.                                                                   
                                                                              
    A circular relating to the expiry of 2003 Warrants will be                
    despatched to holders of 2003 Warrants and, for information only, the     
    shareholders of the Company as soon as practicable.                       
                                                                              
    Holders of the 2003 Warrants, who are in doubt as to their position       
    or to the actions to be taken should consult their stockbroker or         
    other registered dealer in securities, bank manager, solicitor,           
    professional accountant or other professional advisers.                   
                                                                              
    As at date of this announcement, the Company has six Executive            
    Directors, namely Mr. Chuang Yueheng, Henry, Mr. King Phillip, Mr. Lo     
    Kan Sun, Mr. Wong Ying Seung, Asiong, Mr. Wong Wai Man, Raymond and       
    Mr. Chung Wilson, one Non-executive Director, Mr. Lau Da Yip, and         
    five Independent Non-executive Directors, namely Mr. Lam Ping Cheung,     
    Mr. Miu Frank H., Mr. Nakajima Toshiharu, Ms. Lin Wai Yi and Dr. Pang     
    Shuen Wai, Nichols.                                                       
                                                                              
                                                                              
    By order of the Board                                                     
    China United International Holdings Limited                               
    Chuang Yueheng, Henry                                                     
    Chairman                                                                  
                                                                              
    Hong Kong, 26th April, 2005