09:55     CHEVALIER ITECH<00508> & CHEVALIER INT'L<00025> - Joint Ann.        

    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.                                                             
                                                                              
    CHEVALIER iTECH HOLDINGS LIMITED (Incorporated in Bermuda with            
    limited liability)                                                        
    (Stock code: 508)                                                         
                                                                              
    MAJOR TRANSACTION                                                         
                                                                              
    CHEVALIER INTERNATIONAL HOLDINGS LIMITED                                  
    (Incorporated in Bermuda with limited liability)                          
    (Stock code: 025)                                                         
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
                                                                              
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    CIHL and CiTL have made an application to the Stock Exchange for          
    an extension of time for despatch of their respective circular            
    to their respective shareholders on or before 30th June, 2005.            
                                                                              
    Reference is made to the announcement jointly made by Chevalier           
    International Holdings Limited ("CIHL") and Chevalier iTech               
    Holdings Limited ("CiTL") dated 8th April, 2005 (the "Joint               
    Announcement") in relation to the acquisition of the entire               
    issued share capital of Pacific Coffee (Holdings) Limited (the            
    "Acquisition"). The Acquisition constitutes a discloseable                
    transaction for CIHL and a major transaction for CiTL under the           
    Listing Rules. Capitalised terms used in this announcement shall          
    have the same meanings as defined in the Joint Announcement               
    unless the context herein requires otherwise.                             
                                                                              
    The Joint Announcement was released on 11th April, 2005. Pursuant         
    to Rule 14.38 of the Listing Rules, both CIHL and CiTL are required       
    to despatch a circular to their respective shareholders within            
    21 days after publication of the Joint Announcement, which is             
    on or before 3rd May, 2005. The auditors of Pacific Coffee Group          
    are currently performing an annual audit on the financial                 
    statements for the year ended 31st March, 2005, which is expected         
    to be completed in mid of May. It was agreed among CIHL, CiTL             
    and Pacific Coffee Group that upon completion of the annual audit,        
    the reporting accountants of CiTL will commence the audit work            
    required for preparation of the accountants' report on Pacific            
    Coffee Group for the three years ended 31st March, 2005 (the              
    "Accountants' Report"). As the Accountants' Report, which will            
    be included in the circular of both CIHL and CiTL, is anticipated         
    to take approximately six weeks to prepare, CIHL and CiTL have            
    applied to the Stock Exchange under Rule 14.38 of the Listing             
    Rules for an extension of time for despatch of their respective           
    circular to their respective shareholders on or before 30th June,         
    2005.                                                                     
                                                                              
    By Order of the Board of                                                  
    Chevalier iTech Holdings Limited                                          
    Chow Yei Ching                                                            
    Chairman                                                                  
                                                                              
    By Order of the Board of                                                  
    Chevalier International Holdings Limited                                  
    Chow Yei Ching                                                            
    Chairman and Managing Director                                            
                                                                              
    Hong Kong, 29th April, 2005                                               
                                                                              
    As at the date of this announcement, the Board of CiTL comprises          
    Dr. Chow Yei Ching, Mr. Fung Pak Kwan, Mr. Kuok Hoi Sang, Mr.             
    Kan Ka Hon, Mr. Chow Vee Tsung, Oscar and Miss Lily Chow as               
    executive directors and Mr. Shinichi Yonehara, Mr. Wu King Cheong         
    and Mr. Kwong Man Sing as independent non-executive directors.            
                                                                              
    As at the date of this announcement, the Board of CIHL comprises          
    Dr. Chow Yei Ching, Mr. Kuok Hoi Sang, Mr. Fung Pak Kwan, Mr.             
    Tam Kwok Wing, Mr. Kan Ka Hon, Mr. Chow Vee Tsung, Oscar and Mr.          
    Ho Chung Leung as executive directors and Mr. Wong Wang Fat,              
    Andrew, Dr. Chow Ming Kuen, Joseph and Mr. Li Kwok Heem, John             
    as independent non-executive directors.