11:45     RUILI HOLD<00491>&HANNY HOLDINGS<00275>-Joint Ann.&Resume-22        

    The transactions contemplated under the Underwriting Agreement and the    
    Convertible Notes Subscription Agreement constitute a discloseable        
    transaction for Hanny under the Listing Rules. A circular will be sent    
    to shareholders of Hanny as soon as practicable.                          
                                                                              
    CLARIFICATION ON SHAREHOLDING OF THE COMPANY                              
                                                                              
    The Company notes from the Disclosure of Interests by substantial         
    shareholders as at 28 April 2005 that appears on the website of the       
    Exchange (www.hkex.com.hk) that Asia Orient Company Limited ("AOC"),      
    Asia Orient Holdings Limited ("AOH"), Mr. Poon Jing ("Mr. Poon"), Mr.     
    Yeung, Gold Wide Securities Limited ("Gold Wide"), Young Champion         
    Holdings Limited ("YCH") and Young Champion Securities Limited ("YCS")    
    have reported shareholding interest in the Company. To the best           
    knowledge of the Company, AOC and AOH are companies controlled by Mr.     
    Poon; while Gold Wide, YCS and YCH are companies controlled by Mr.        
    Yeung. Based on the disclosure of interest form dated 25 April 2005       
    (the "SFO Form") filed by Mr. Yeung, Mr. Yeung holds 12.5 million         
    Shares (or approximately 2.32% in the existing issued share capital of    
    the Company) prior to filing the SFO Form. To the best knowledge of the   
    Company, YCS and AOC are the sub-underwriters of the Rights Issue; and    
    Mr. Poon, Gold Wide, YCS, YCH, AOH and AOC do not currently hold any      
    shares of the Company.                                                    
                                                                              
    GENERAL                                                                   
                                                                              
    The Company                                                               
                                                                              
    A circular will be despatched as soon as practicable to the               
    Shareholders containing details of, among other things, (i) the           
    Proposed Acquisition; (ii) the Rights Issue; (iii) the Convertible        
    Notes Subscription and the Convertible Notes Placing; (iv) the Capital    
    Reorganisation; (v) the recommendation of the independent board           
    committee of the Company to the Independent Shareholders in respect of    
    the Proposed Acquisition, the Rights Issue, the Convertible Notes         
    Subscription and the Convertible Notes Placing; (vi) the letter of        
    advice from the independent financial adviser in respect of the terms     
    of the Proposed Acquisition, the Rights Issue, the Convertible Notes      
    Subscription and the Convertible Notes Placing; and (vii) a notice to     
    convene the SGM.                                                          
                                                                              
    Hanny                                                                     
                                                                              
    A circular of Hanny containing details of the Underwriting Agreement      
    and the Convertible Notes Subscription will be despatched to the          
    shareholders of Hanny as soon as practicable.                             
                                                                              
    SUSPENSION AND RESUMPTION OF TRADING                                      
                                                                              
    The Company                                                               
                                                                              
    At the request of the Company, trading in the Shares was suspended with   
    effect from 2:30 p.m. on 19 April 2005 pending the release of this        
    announcement. An application has been made by the Company to the Stock    
    Exchange for resumption of trading in the Shares with effect from 9:30    
    a.m. on 3 May 2005.                                                       
                                                                              
    Hanny                                                                     
                                                                              
    At the request of Hanny, trading in the shares of Hanny was suspended     
    with effect from 10:00 a.m. on 25 April 2005 pending the release of       
    this announcement. An application has been made by Hanny to the Stock     
    Exchange for resumption of trading in its shares with effect from 9:30    
    a.m. on 3 May 2005.                                                       
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, the following expressions have the meanings set     
    out below unless the context requires otherwise.                          
                                                                              
    "Acquisition Agreement"  the conditional sale and purchase agreement      
    dated 21 April 2005 entered into between the Purchasers, the Vendor and   
    the Company relating to the sale and purchase of the Sales Shares and     
    the New Equity Issue                                                      
                                                                              
    "Adjusted Share"  share(s) of HK$0.01 each in the share capital of the    
    Company upon the Capital Reorganisation becoming effective                
                                                                              
    "associates"  has the meaning ascribed to it under the Listing Rules      
                                                                              
    "Board"  board of the Directors                                           
                                                                              
    "Company"  Ruili Holdings Limited, a company incorporated in Bermuda      
    with limited liability and the issued shares of which are listed on the