09:28     NORTHERN INT'L<02975> - 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 howsoever arising from or in            
    reliance upon the whole or any part of the contents of this               
    announcement.                                                             
                                                                              
    NORTHERN INTERNATIONALS HOLDINGS LIMITED                                  
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code : 736)                                                        
                                                                              
    CONSOLIDATION OF SHARES AND                                               
    ADJUSTMENT TO OPTIONS                                                     
                                                                              
    The Consolidation and adjustment to the number of shares issuable         
    under the Company's share option scheme and exercise price will           
    become effective on 5 May, 2005.                                          
                                                                              
    Reference is made to the announcement of Northern International           
    Holdings Limited (the "Company") dated 23 March, 2005 relating            
    to a proposed consolidation (the "Consolidation") of 20 shares            
    of HK$0.01 each of the Company ("Existing Share(s)") into one             
    share of HK$0.20 each of the Company ("New Share(s)") . The               
    Consolidation has been approved by the Company's shareholders and         
    will become effective on 5 May, 2005.                                     
                                                                              
    As at the date of this announcement, the Company has outstanding          
    options granted under its share option scheme to subscribe for            
    a total of 19,300,000 Existing Shares at the exercise price of            
    HK$0.01 per Existing Share. Upon the Consolidation becoming               
    effective, the number of shares issuable under each outstanding           
    option granted under the Company's share option scheme will be            
    reduced by 95% and the exercise price per share will be increased         
    from HK$0.01 to HK$0.20. Accordingly, after the Consolidation             
    having become effective, the Company will have outstanding                
    options to subscribe for a total of 965,000 New Shares at the             
    exercise price of HK$0.20 per New Share. The aforesaid adjustments        
    are made in accordance with the rules of the Company's share option       
    scheme and the note to Rule 17.03(13) of the Listing Rules.               
                                                                              
    As at the date of this announcement, the executive directors of           
    the Company are Messrs. Chong Sing Yuen, Chong Chun Hing, Chu Kiu         
    Fat, Wong Siu Keung, Joe, Chong Chun Kwok, Piggy; and the                 
    independent non-executive directors of the Company are Messrs.            
    Chan Ping Yim, Chan Shun and Cheng Kwok Hing, Andy.                       
                                                                              
    By Order of the Board                                                     
    Chong Sing Yuen                                                           
    Chairman                                                                  
                                                                              
    Hong Kong, 4 May, 2005