11:09     CHAMPION TECH<00092> - Announcement (3)                             

    Tranche 1 Bonds and the Tranche 2 Bonds as set out                        
    in the Announcements.                                                     
                                                                              
    The principal terms of the Additional Tranche 1 Bonds                     
    with the Amended Terms are as follows:                                    
                                                                              
    Interest                                                                  
    The Additional Tranche 1 Bonds bear interest from the                     
    Additional Tranche 1 Bonds Closing Date at the rate                       
    of 1.5 per cent. per annum. Interest is payable                           
    semi-annually in arrears.                                                 
                                                                              
    Conversion price:                                                         
    At the election of CSFB, the Additional Tranche 1                         
    Bonds may be converted either at (i) their Fixed                          
    Conversion Price; or (ii) their Floating Conversion                       
    Price, provided that the conversion price shall not                       
    be less than the par value of the Shares on the date                      
    of conversion unless permitted by law and in                              
    compliance with the Listing Rules. Such Shares which                      
    fall to be issued on conversion of the Additional                         
    Tranche 1 Bonds shall rank pari passu in all respects                     
    with Shares in issue on the date of issue of such Shares                  
    pursuant to the conversion.                                               
                                                                              
    The Fixed Conversion Price of the Additional Tranche                      
    1 Bonds shall be HK$2.3635, subject to adjustment.                        
    The Fixed Conversion Price of the Additional Tranche                      
    1 Bonds represents a premium of approximately 100.3                       
    per cent. over the closing price of HK$1.18 per Share                     
    as at the Additional Tranche 1 Bonds Closing Date and                     
    a premium of approximately 100.0 per cent. over the                       
    average daily closing price of approximately HK$1.182                     
    per Share for the five consecutive trading days up                        
    to and including the Additional Tranche 1 Bonds                           
    Closing Date.                                                             
                                                                              
    The Floating Conversion Price of the Additional                           
    Tranche 1 Bonds shall be 94% of the average of any                        
    five consecutive closing prices per Share as selected                     
    by CSFB during the 30 consecutive business days                           
    immediately prior to the date on which notice of CSFB                     
    is received by the Company.                                               
                                                                              
    Conversion period:                                                        
    The Additional Tranche 1 Bonds may be converted, at                       
    the election of CSFB, at any time from and including                      
    the Additional Tranche 1 Bonds Closing Date up to the                     
    close of business on the day falling one week prior                       
    to the Maturity Date by serving a conversion notice                       
    on the Company.                                                           
                                                                              
    Maturity:                                                                 
    22 November 2005.                                                         
                                                                              
    Unless previously redeemed, converted or purchased                        
    and cancelled, each outstanding Additional Tranche                        
    1 Bond will be redeemed by the Company at 100% of its                     
    principal amount on the Maturity Date.                                    
                                                                              
    Early Redemption:                                                         
    If at any time during the relevant conversion period                      
    (as set out above), the closing price per Share is                        
    less than or equal to the Downside Price on a business                    
    day, the Company may redeem any Additional Tranche                        
    1 Bonds presented for conversion on the immediate                         
    following date in cash in an amount determined                            
    according to the formula provided in the terms and                        
    conditions of the Additional Tranche 1 Bonds (the                         
    "Downside Option"). In determining whether the                            
    Company will exercise such right, the Directors will                      
    consider, among others, the market condition and the                      
    interests of the Company and its shareholders as a                        
    whole including any dilution