09:16     FAST SYSTEMS<08150> - Announcement                                  

                                                                              
    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.                   
                                                                              
    FAST SYSTEMS TECHNOLOGY (HOLDINGS) LIMITED                                
    (Incorporated in Cayman Islands with limited liability)                   
    (stock code: 8150)                                                        
                                                                              
    Postponement of Board Meeting,                                            
    Delay in Publication of The Audited Annual Results Announcement           
    And Dispatch of Annual Report for The Year Ended 31 December 2004         
                                                                              
                                                                              
    The Board wishes to inform the Shareholders that there is a delay of the  
    publication of the audited annual results announcement and dispatch of    
    annual report for the year ended 31 December 2004. The Board expects to   
    announce the annual result for the year ended 31 December 2004 on 26 May  
    2005, while dispatch of annual report for the said report would be on 30  
    May 2005. The reason for such delay is mainly caused by delay in          
    finalizing financial accounts for auditors to perform their audit works.  
    The Company had experienced system failure and need extra time to         
    re-enter accounting data to complete its financial statements. In         
    addition, more time is required by the Directors to gather various        
    documents to enable the auditors to complete and conclude on their        
    audit. Such documentations include, but are not limited to, various       
    analyses of the Group's business operations including ferrules and        
    watches distribution, and various other documents for audit purposes.     
    Our auditors had commenced audit of the PRC subsidiaries in end of        
    January 2005.  However, the audit work for other subsidiaries cannot be   
    commenced until end of March 2005.                                        
                                                                              
    The delay in publication of the said results announcement and dispatch    
    of the said report constitutes a breach of Rules 18.03, 18.48A, 18.49     
    and 18.50C of the GEM Listing Rules. The Stock Exchange reserves its      
    rights to take appropriate action regarding the above breach of the GEM   
    Listing Rules.                                                            
                                                                              
    The date of the Company's board meeting will be postponed to a date no    
    later than 26 May 2005. A notice of board meeting will be notified to     
    the Stock Exchange and the Shareholders accordingly.                      
                                                                              
    In order to comply with Rule 5.56 of the GEM Listing Rules, the           
    Directors undertake that they have not dealt in the Company's securities  
    since 28 February 2005 and will not deal in the securities of the         
    Company until the Group's audited results are announced.                  
                                                                              
    The Company had requested to the Stock Exchange to suspend trading of     
    the Company's shares from 31 March 2005 and trading of the Company's      
    shares will remain suspended till the announcement of the audited annual  
    results for the year ended 31 December 2004.                              
                                                                              
    On behalf of the Board                                                    
    Liao Ko Ping                                                              
    Managing Director                                                         
                                                                              
    Dated the 29 April, 2005.                                                 
                                                                              
    Members of the board:                                                     
    Liao Lien Shen, Chairman                                                  
    Liao Ko Ping, Managing Director                                           
    Liao Chin Te, Executive Director                                          
    Tam Yeung Kai, Vicko Independent Non-executive Director                   
    Cheng, Isaac Independent Non-executive Director                           
    Lam Ngai Ming Independent Non-executive Director                          
                                                                              
    This announcement, for which the directors of the Company collectively    
    and individually accept full responsibility, includes particulars given   
    in compliance with the Rules Governing the Listing of Securities on the   
    Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for   
    the purpose of giving information with regard to the Company. The         
    directors of the Company, having made all reasonable enquiries, confirm   
    that, to the best of their knowledge and belief, (1) the information      
    contained in this announcement is accurate and complete in all material   
    respects and not misleading; (2) there are no other matters the omission  
    of which would make any statement in this announcement misleading; and    
    (3) all opinions expressed in this announcement have been arrived at      
    after due and careful consideration and are founded on bases and          
    assumptions that are fair and reasonable.                                 
                                                                              
    The above announcement is a summary only. For the full version of this    
    announcement, please refer to the 'Latest Company Announcement' page on   
    the GEM website at http://www.hkgem.com.