09:25     PRICERITE GROUP<00996> - Unusual price & volume movements           

    The Stock Exchange has received a message from Pricerite Group Limited    
    which is reproduced as follows:-                                          
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted the recent fluctuation in the price and increases in the    
    trading volume of the shares in the Company and wish to state that, save  
    for (i) the conditional placing of 223 million shares at HK$0.30 each via 
    the placing agent as announced by the Company on 4 April 2005; and (ii)   
    the possible investment in the Group by Australian investors for retail   
    business in China as announced by the Company on 3 May 2005, we are not   
    aware of any reasons for such increases fluctuation.                      
                                                                              
    We also confirm that there are no negotiations or agreements relating to  
    intended acquisitions or realizations which are discloseable under rule   
    13.23 of the Rules Governing the Listing of Securities on The Stock       
    Exchange of Hong Kong Limited ("Listing Rules"), neither is the Board     
    aware of any matter discloseable under the general obligation imposed by  
    rule 13.09 of the Listing Rules, which is or may be of a price-sensitive  
    nature.                                                                   
                                                                              
    Made by the order of the Board of Pricerite Group Limited, the directors  
    of which individually and jointly accept responsibility for the accuracy  
    of this statement.                                                        
                                                                              
    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.                                                              
                                                                              
    Hong Kong, this 5 May 2005                                                
                                                                              
    On behalf of:   Pricerite Group Limited                                   
    Name:           Joan Kwok"