10:14     FIRST NATURAL<01076> - Announcement (6)                             

    ``Bonds''                                                                 
    US$4,500,000 2.5% coupon bonds with warrants attached due in 2008         
    the aggregate nominal amount of which is divided into (i) two             
    tranches of US$1,350,000 each with bonds issued in a series and           
    designated as Ex-Warrant A Bond and Ex-Warrant B Bond respectively        
    and (ii) two tranches of US$900,000 each with bonds issued in a series    
    and designated as Ex-Warrant C Bond and Ex-Warrant D Bond                 
    respectively Each Bond is in the denomination of US$5,000 with a          
    Warrant attached                                                          
                                                                              
    ``Bondholder(s)''                                                         
    holder(s) of the Bonds                                                    
                                                                              
    ``Clearstream''                                                           
    Clearstream Banking, Luxembourg                                           
                                                                              
    ``Company''                                                               
    First Natural Foods Holdings Limited, an exempted company                 
    incorporated in Bermuda with limited liability, the Shares of which       
    are listed on the Stock Exchange                                          
                                                                              
    ``Director(s)''                                                           
    director(s) of the Company                                                
                                                                              
    ``Euroclear''                                                             
    Euroclear Bank SA/NV                                                      
                                                                              
    ``General Mandate''                                                       
    the general mandate to allot, issue and deal with Shares granted          
    to the Directors by resolution of the Shareholders on 4 June 2004         
                                                                              
    ``Group''                                                                 
    the Company and its subsidiaries                                          
                                                                              
    ``HK$''                                                                   
    Hong Kong Dollars, the lawful currency of Hong Kong                       
                                                                              
    ``Hong Kong''                                                             
    the Hong Kong Special Administrative Region of the People's Republic      
    of China                                                                  
                                                                              
    ``Hong Kong Clearing''                                                    
    Hong Kong Securities Clearing Company Limited                             
                                                                              
    ``Investors''                                                             
    Peterbeck & Partner, Global Convertible Megatrend Ltd and Swiss           
    Investment Corporation                                                    
                                                                              
    ``Latest Practicable Date''                                               
    29 April 2005                                                             
                                                                              
    ``Listing Rules''                                                         
    Rules Governing the Listing of Securities on the Stock Exchange           
                                                                              
    ``Offering Circular''                                                     
    the offering circular issued by the Company in respect of the Bonds       
                                                                              
    ``RMB''                                                                   
    Renminbi, the lawful currency of the People's Republic of China           
                                                                              
    ``SGM''                                                                   
    the special general meeting of the Company to be held for the purpose     
    of considering, and if thought fit, authorizing the issue of              
    Additional Warrants                                                       
                                                                              
    ``Share(s)''                                                              
    ordinary share(s) of HK$0.05 each in the capital of the Company           
                                                                              
    ``Shareholders''                                                          
    holders of the Shares                                                     
                                                                              
    ``Stock Exchange''                                                        
    The Stock Exchange of Hong Kong Limited                                   
                                                                              
    ``Subscription Agreements''                                               
    the subscription agreements (including the Offering Circular)             
    entered into between the Company and each of the Investors on 28          
    March 2003, pursuant to which the Company agreed to issue an              
    aggregate principal amount of US$4,500,000 2.5% coupon Bonds with         
    Warrants attached due 2008                                                
                                                                              
    ``Subscription Price''                                                    
    the price for subscribing Subscription Shares, subject to                 
    adjustment