09:18     PRICERITE GROUP<00996> - Announcement & Resumption (2)              

    Australia or                                                              
      Investors"   Australian corporation(s) or individual(s)) to be          
    solicited by the Australian Party for the Potential Investment            
                                                                              
    "Australian Party"   an Australian corporation                            
                                                                              
    "Board"   the board of directors of the Company                           
                                                                              
    "Company"   Pricerite Group Limited, a company incorporated in Bermuda    
    with limited liability and which Shares are listed on the Stock Exchange  
                                                                              
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "Listing Rules"   the Rules Governing the Listing of Securities on the    
    Stock Exchange                                                            
                                                                              
    "Possible Cooperation"   the possible cooperation between the Group and   
    the Australian Party the conclusion of which the Australian Party will    
    solicit Australian Interested Investors to form joint venture with the    
    Group or directly invest in the Group for newly identified retail         
    business opportunities in the China market                                
                                                                              
    "Potential Investment"   the potential investment by the Australian       
    Interested Investors in the form of joint venture with the Group or by    
    directly investing in the Group for newly identified retail business      
    opportunities in the China market, as induced from the Possible           
    Cooperation                                                               
                                                                              
    "Share(s)"   share(s) of HK$0.02 each in the Company and are listed on    
    the Stock Exchange                                                        
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    On behalf of the Board                                                    
    Bankee P Kwan                                                             
    Chairman                                                                  
                                                                              
    Hong Kong, 3 May 2005                                                     
                                                                              
    As at the date hereof, the executive directors of the Company are Mr      
    Kwan Pak Hoo Bankee, Mr Law Ping Wah Bernard, Ms Kwok Lai Ling Elaine,    
    Mr Leung Siu Pong James, Mr Li Yuen Cheuk Thomas, and the independent     
    non-executive directors are Dr Hui Ka Wah Ronnie, Mr Lai Wai Kwong Daryl  
     and Mr Lo Ming Chi Charles.