09:17 ACROSSASIA<08061> - Announcement & Resumption of Trading 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. ACROSSASIA LIMTED (Incorporated in the Cayman Islands with limited liability) (Stock Code: 8061) ANNOUNCEMENT DISCLOSEABLE TRANSACTION AND RESUMPTION OF TRADING The Board announces that one of the Company's principal non-wholly owned subsidiaries, Multipolar, proposes to issue Pre-emptive Rights in the amount of 2,339,710,000 Rights Shares with a nominal value of Rp125 each at a subscription price of Rp125 per Rights Share on the basis of five Pre-emptive Rights to buy five Rights Shares for every four existing Class A Shares held on the Record Date. The Company has interest in 938,328,300 Class A Shares in Multipolar, representing about 50.13% of the existing issued share capital of Multipolar. The Company has entered into the Standby Buyer Agreement pursuant to which it has conditionally agreed to purchase the Excess Rights Shares for up to 966,799,625 Rights Shares under the Rights Issue. The Company has also conditionally undertaken to Multipolar to accept its proportionate entitlement of 1,172,910,375 Rights Shares in the Standby Buyer Agreement. The Underwriting Arrangements constitute a discloseable transaction for the Company under the GEM Listing Rules. A circular containing details of the transaction will be despatched to the shareholders of the Company within 21 days after the publication of this announcement. Trading in the shares of the Company were suspended from 9:30 a.m. on 28th April, 2005 at the request of the Company pending the publication of this announcement and an application has been made to the Stock Exchange for the resumption of trading of the shares in the Company from 9:30 a.m. on 3rd May, 2005. By Order of the Board Dr. Cheng Wen CHENG Executive Director and Chief Executive Officer Hong Kong, 29th April, 2005 This announcement, for which the Directors (namely, executive Directors: Dr. Cheng Wen CHENG and Mr. Marshall Wallace COOPER; non-executive Director: Mr. Jonathan Limbong PARAPAK; and independent non-executive Directors: Messrs. Richard Arthur WOOLCOTT, Kwok Ming CHEUNG and King Fai TSUI) collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and (iii) 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. This announcement will remain on the "Latest Company Announcements" page on the GEM website at www.hkgem.com for at least seven days from its date of publication. The above announcement is a summary only. For the full version of this announcement, please refer to the `Latest Company Announcements' page on the GEM website at www.hkgem.com.