11:12 CHAMPION TECH<00092> - Announcement (10) Bonds, the Company will disclose to the Stock Exchange any dealings by any of the connected persons of the Company from time to time in the Additional Tranche 1 Bonds immediately upon the Company becoming aware of such dealings. Save the transactions as disclosed in this announcement, the Company has not carried out any fund raising activities during the 12-month period immediately preceding the date of this announcement. Unless otherwise specified in this announcement, US$1.00 = HK$7.80. No representation is made that any amounts in US$ or HK$ could have been or could be converted at such a rate or at any other rates or at all. By Order of the Board Paul Kan Man Lok Chairman Hong Kong, 28 April 2005 As at the date of this announcement, the executive directors of the Company are Mr Paul Kan Man Lok, Mr Leo Kan Kin Leung and Mr Lai Yat Kwong; the non-executive director is Ms Shirley Ha Suk Ling; and the independent non-executive directors are Mr Terry John Miller, Mr Francis Gilbert Knight, Professor Liang Xiong Jian, Professor Ye Pei Da and Mr Frank Bleackley. 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. e-NEW MEDIA COMPANY LIMITED (incorporated in Hong Kong with limited liability) (Stock Code: 128) CONTINUING CONNECTED TRANSACTION RENEWAL OF A TENANCY AGREEMENT The Board of the Company announces that the Company entered into the Tenancy Agreement on 28 April 2005 with the Landlord to lease Premises as office premises. The Landlord is a company wholly-owned by Ms. Nina Kung, who is a controlling shareholder of the Company holding 34.6% of the issued share capital of the Company. Therefore, the Landlord is a connected person by reason of its being an associate of connected person of the Company within the meaning of Rule 14A.11 of the Listing Rules. Accordingly, the transaction contemplated under the Tenancy Agreement constitutes a continuing connected transaction for the Company under the Listing Rules. Pursuant to Rule 14A.34 of the Listing Rules, as the annual rent payable under the Tenancy Agreement, being HK$1,456,200 (after taking into account of the rent free period), is less than 2.5% of each of the applicable percentage ratios, the Company is only subject to the reporting and announcement requirements set out in Rules 14A.45 to 14A.47 of the Listing Rules and is exempt from the independent shareholders' approval requirements. Details of the Tenancy Agreement will be included in the annual report and accounts of the Company for each of the relevant financial years in accordance with Rule 14A.46 of the Listing Rules. DETAILS OF THE TENANCY AGREEMENT The Board announces that the Company entered into the Tenancy Agreement on 28 April 2005 with the Landlord to lease Premises as office premises. The principal terms of the Tenancy Agreement are summarised as follows: - Landlord : Hollywood Palace Company Limited Tenant : e-New Media Company Limited Premises : Suites 1502 and 1521 on 15th Floor, Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui East, Kowloon, Hong Kong with a total gross area of 8,090 square feet Lease term : Two years commencing from 1 May 2005 and expiring on 30 April 2007 (both days inclusive) Rent : HK$145,620 per month (calculated at the rate of HK$18 per square feet) exclusive of management fee, government rent, government rates and other outgoings Annual rent payable : HK$1,456,200 (taking into account of the rent free period) Rent free period : Four months (1st, 2nd, 13th and 24th months of the term mentioned above) REASONS FOR THE TRANSACTION Since April 2001, the Landlord has been leasing the Premises to the Company as office premises. The existing tenancy agreement dated 26 August 2004 entered into between the Landlord and the Company in respect of the Premises at a monthly rental of HK$113,260 would expire on 30 April 2005, details of which were included in the