09:45     CHI FIN IND INV<01227> - 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 Financial Industry Investment Fund Limited*                         
    (incorporated in the Cayman Islands with limited liability)               
    (Stock code: 1227)                                                        
                                                                              
                                                                              
    POSTPONEMENT OF BOARD MEETING, PUBLICATION OF                             
    ANNUAL RESULTS ANNOUNCEMENT AND DESPATCH OF                               
    ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2004                         
                                                                              
                                                                              
    The Board wishes to inform the Shareholders that there                    
    will be a delay in the publication of the annual                          
    results announcement and dispatch of annual report                        
    of the Company for the year ended 31 December 2004                        
    to a date not later than 13 May 2005.                                     
                                                                              
    The date of the Board Meeting will be postponed from                      
    27 April 2005 to a date not later than 13 May 2005.                       
    The exact date of the Board Meeting will be notified                      
    to the Stock Exchange and the Shareholders in                             
    accordance with the Listing Rules.                                        
                                                                              
    The delay in the publication of annual results                            
    announcement and dispatch of the annual report of the                     
    Company for the year ended 31 December 2004                               
    constitutes a breach of Rules 13.49(1) & 13.46(2) of                      
    the Listing Rules. In this regard, the Stock Exchange                     
    has indicated that it reserves the right to take                          
    appropriate action against the Company and/or the                         
    Directors.                                                                
                                                                              
    Each Director of the Company confirms that he has not                     
    dealt in any shares of the Company since one month                        
    before the date of this announcement and has                              
    undertaken not to do so until the results for the year                    
    ended 31 December 2004 are published.                                     
                                                                              
    The Company will request suspension in the trading                        
    in the shares of the Company with effect from 9:30                        
    a.m. on 29 April 2005 until publication of an                             
    announcement in relation to its results for the year                      
    ended 31 December 2004.                                                   
                                                                              
    DELAY IN THE PUBLICATION OF ANNUAL RESULTS                                
    ANNOUNCEMENT AND DESPATCH OF THE ANNUAL REPORT                            
                                                                              
    The board of directors (the "Board") of China                             
    Financial Industry Investment Fund Limited (the                           
    "Company") wishes to inform the shareholders (the                         
    "Shareholders") of the Company that there will be a                       
    delay in the publication of the annual results                            
    announcement and dispatch of annual report of the                         
    Company for the year ended 31 December 2004 to a date                     
    not later than 13 May 2005.                                               
                                                                              
    The Board approved the audit fee in mid April,                            
    therefore the auditors of the Company commenced their                     
    audit work thereafter. The auditors of the Company                        
    are currently undergoing their audit of the Company's                     
    accounts. The auditors of the Company have indicated                      
    to the Company that they will require more time to                        
    conduct review on the Company's financial statements.                     
    The management of the Company, having discussed with                      
    the auditors considers that a further two weeks period                    
    is needed to let the auditors finalise their work.                        
    As at the date of this announcement, there is no                          
    disagreement between the Company and its auditors.