09:12     PLASMAGENE<08250> - Announcement                                    

                                                                              
    The Stock Exchange of Hong Kong Limited (the "Stock                       
    Exchange") 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 howsoever arising from or in                      
    reliance upon the whole or any part of the contents of this               
    announcement.                                                             
                                                                              
    PLASMAGENE BIOSCIENCES LIMITED                                            
    (incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 8250)                                                        
                                                                              
    CONTINUING CONNECTED TRANSACTIONS                                         
                                                                              
    The Directors wish to announce that the Company has renewed               
    the sub-tenancy agreement with Wellchamp to sub-lease part                
    of its office at 5/F, Club Lusitano, 16 Ice House Street,                 
    Central, Hong Kong to Wellchamp for a period of two years                 
    commencing on 13 February, 2005 to 12 February, 2007 for                  
    a monthly rental of HK$29,500 on 25 April 2005.                           
                                                                              
    The entering into of the sub-tenancy agreement is to                      
    facilitate the Group more effectively using the floor area                
    of its office and to generate additional income and provide               
    additional cash inflow to the Group.                                      
                                                                              
    The continuing connected transactions are exempted under                  
    Rule 20.34 of the GEM Listing Rules from the independent                  
    shareholders' approval requirement, but is subject to the                 
    reporting and announcement requirements as set out in Rules               
    20.45 to 20.47 of the GEM Listing Rules.                                  
                                                                              
    By order of the Board                                                     
    Plasmagence Biosciences Limited                                           
    Dr. Yeung Wah Hin, Alex                                                   
    Chairman                                                                  
                                                                              
    Hong Kong, 4 May 2005                                                     
                                                                              
    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 Announcements" page on the GEM website of                         
    http://www.hkgem.com.