10:27     SING TAO<01105> - 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.                   
                                                                              
    SING TAO NEWS CORPORATION LIMITED                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock code: 1105)                                                        
                                                                              
    DISCLOSEABLE TRANSACTION AND DISCLOSURE                                   
    PURSUANT TO RULE 13.13 OF THE LISTING RULES                               
                                                                              
    The board of directors of the Company wishes to announce that on 28       
    April 2005, GCIS, Sanlian Electronics and Sanlian Group entered into      
    the Framework Agreement which sets out, among others, (1) the terms by    
    which the Group will make a payment of RMB30,000,000 to Sanlian           
    Electronics in settlement of the amount of RMB117,600,000 owing by the    
    Group to Sanlian Electronics and all other payment obligations by the     
    Group under the Joint Venture Contract, and (2) the terms for a loan of   
    RMB60,000,000 to be given by the Group to Sanlian Group as part of the    
    settlement arrangement, which is secured by the Share Charge.             
                                                                              
    The granting of the Loan pursuant to the Framework Agreement              
    constitutes a discloseable transaction under the Listing Rules. A         
    circular giving further details thereof will be dispatched to the         
    shareholders of the Company as soon as practicable. Moreover, the Loan    
    will exceed 8% of the consideration ratio in Chapter 14 of the Listing    
    Rules and is thus required to be disclosed under Rule 13.13 of the        
    Listing Rules as an "advance to an entity".                               
                                                                              
    BACKGROUND ?THE JOINT VENTURE CONTRACT                                    
                                                                              
    On 25 September 2000, Sing Tao News Corporation Limited (the              
    "Company"), through a wholly-owned subsidiary, Global China Information   
    Services Limited (formerly known as Pure Energy Technology Limited)       
    ("GCIS"), entered into a joint venture contract (the "Joint Venture       
    Contract") with Shandong Sanlian Electronics and Information Co., Ltd.    
    (*)("Sanlian Electronics") and another independent third                  
    party to acquire a 40% interest in Beelink Information Technology Co.,    
    Ltd.(*) ("JV Co."), a sino-foreign equity joint venture in                
    Shandong Province, the People's Republic of China (the "PRC"). The        
    remaining interests in the JV Co. are owned as to 50% by Sanlian          
    Electronics and 10% by the independent third party.                       
                                                                              
    The principal activities of JV Co. are to provide technical support and   
    consulting services on hi-technology business. JV Co. provides            
    comprehensive technical support which covers research and development,    
    production and sales of network products and software applications,       
    system integration, information technology consulting, training and       
    support services to Sanlian Electronics. Sanlian Electronics operates     
    certain broadband multimedia network in Jinan City, Shandong Province,    
    the PRC.                                                                  
                                                                              
    Pursuant to the Joint Venture Contract, the Company and its               
    subsidiaries (the "Group") agreed to invest approximately                 
    RMB263,000,000 in JV Co., which included a capital contribution of        
    US$11,960,000 into JV Co. and a sum of RMB160,000,000 payable to          
    Sanlian Electronics in cash as consideration for Sanlian Electronics      
    injecting certain intellectual property rights into JV Co.                
                                                                              
    The Group had already made the capital contribution of US$11,960,000      
    into JV Co. The Group had also made part payment in the amount of         
    RMB42,400,000 to Sanlian Electronics in consideration for its injection   
    of the intangible assets. Under the Joint Venture Contract, it was        
    agreed that the remaining RMB117,600,000 owing to Sanlian Electronics     
    would be paid by the Group at the end of five years from the date on      
    which JV Co. obtained its business license, i.e. on or before 8           
    December 2005.                                                            
                                                                              
    The above details relating to the Joint Venture Contract were announced   
    as a discloseable transaction by the Company on 26 September 2000.        
                                                                              
    As the amount of RMB117,600,000 owing by the Group to Sanlian             
    Electronics will soon be required to be paid at the end of this year,     
    the Group and Sanlian Electronics have entered into a framework           
    agreement (the "Framework Agreement") to arrange for settlement of the    
    sum.                                                                      
                                                                              
    THE FRAMEWORK AGREEMENT                                                   
                                                                              
    Date:   28 April 2005