09:23     KAMBOAT<00318> - Announcement (3)                                   

    5,400 million shares pursuant to the Subscription                         
    Agreement after deduction of related expenses (such                       
    as professional fees and printing costs) of                               
    approximately HK$1.5 million).                                            
                                                                              
    (c)     The calculation is based on the assumption that                   
    the issue of 5,400 million Shares is completed and                        
    the proceeds therefrom are received.                                      
                                                                              
    We have noted the recent increase in the price of the                     
    Shares of the Company and wish to state that we are                       
    not aware of any reasons for such increase.                               
                                                                              
    Save and except for the despatch of the Circular and                      
    the notice to call the Extraordinary General Meeting,                     
    we also confirm that there are no negotiations or                         
    agreements relating to any intended acquisitions or                       
    realisations which are discloseable under rule 13.23,                     
    neither is the Board aware of any matter discloseable                     
    under the general obligation imposed by rule 13.09,                       
    which is or may be of a price-sensitive nature.                           
    By order of the Board                                                     
    Kamboat Group Company Limited                                             
    Wong Chi Man                                                              
    Chairman                                                                  
                                                                              
    Dated 3 May 2005                                                          
                                                                              
    As at the date of the announcement, the Company's                         
    Board comprises nine Directors. The executive                             
    directors are Mr. Wong Chi Man (Chairman and Managing                     
    Director), Mr. Wong See Sum, J.P. (Vice Chairman),                        
    Ms. Wong Lan Fun, Roberta, Mr. Wong Chi Wing, Tenny,                      
    Ms. Ng Suk Bing, Mclanly, the Non-Executive Director                      
    is Mr. Tam Fook Yee, and the Independent Non-Executive                    
    Directors are Mr. Lee Man Youn, Montareal, Mr. Chan                       
    Kam Fai, Robert and Mr. Cheung Man Yau, Timothy.                          
                                                                              
    The Company's Directors jointly and severally accept                      
    full responsibility for the accuracy of the                               
    information contained in this announcement and                            
    confirm, having made all reasonable enquiries, that                       
    to the best of their knowledge, opinions expressed                        
    in this announcement have been arrived at after due                       
    and careful consideration and there are no other facts                    
    not contained in this announcement, the omission of                       
    which would make any statement in this announcement                       
    misleading.