09:07 LINEFAN TECH<08166>&<08397> - 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 however arising from or in reliance upon the whole or any part of the contents of this announcement. LINEFAN TECHNOLOGY HOLDINGS LIMITED (incorporated in the Cayman Islands with limited liability) (Stock Code: 8166) RESULTS OF THE RIGHTS ISSUE OF 78,533,230 RIGHTS SHARES OF HK$0.10 EACH AT HK$0.10 PER RIGHTS SHARE ON THE BASIS OF ONE RIGHTS SHARE FOR EVERY TWO CONSOLIDATED SHARES HELD ON THE RECORD DATE Financial adviser KINGSTON CORPORATE FINANCE LIMITED The Directors announce that as at 4:00 p.m. on Tuesday, 26 April 2005, being the latest time for acceptance and payment of the Rights Shares, 18 valid applications for provisional allotment of an aggregate of 54,416,590 Rights Shares (representing approximately 69.29% of the total number of 78,533,230 Rights Shares), and 22 valid forms of application for excess Rights Shares of an aggregate of 15,816,999 Rights Shares (representing approximately 20.14% of the total number of 78,533,230 Rights Shares) have been received. An aggregate of 70,233,589 Rights Shares and excess Rights Shares being applied for represent approximately 89.43% of the total number of 78,533,230 Rights Shares offered under the Rights Issue. The Underwriting Agreement (as amended by the Supplemental Agreement) for the Rights Issue, of which the Underwriting Shareholders are Ms. Lu, World Develop and Mr. Sun, became unconditional at 4:00 p.m. 28 April 2005. The Rights Issue was undersubscribed by 8,299,641 Rights Share representing approximately 10.57% of the total number of 78,533,230 Rights Shares. Ms. Lu has taken up all the undersubscribed Rights Shares in full according to the provisions of the Underwriting Agreement (as amended by the Supplemental Agreement). Share certificates of the Rights Shares have been despatched by ordinary post to those Qualifying Shareholders who have validly applied and paid for the Rights Shares, at their own risks, on Tuesday, 3 May 2005. Dealings in the Rights Shares will commence on Thursday, 5 May 2005. By order of the Board Linefan Technology Holdings Limited Wang Yong Chairman Hong Kong, 3 May 2005 As at the date of this announcement, the Board comprises: Mr. Wang Yong (Chairman and Executive director) Ms. Ma Gui Fang (Executive director) Mr. Zhu Guang Bo (Executive director) Mr. Chan, Peter Yat-Tung (Independent non-executive director) Mr. Feng Jue Min (Independent non-executive director) Mr. Zhang Gong (Independent non-executive director) This announcement, for which the Directors 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. 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. * for identification purposes only