09:36     CHUN WO HOLD<00711> - 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.                                                             
                                                                              
    CHUN WO HOLDINGS LIMITED                                                  
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code : 711)                                                        
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The Board of the Company has noted the recent increases in the            
    price and trading volume of the shares of the Company and wishes          
    to state that except as disclosed below, the Board is not aware           
    of any reasons for such increases.                                        
                                                                              
    This statement is made at the request of The Stock Exchange of            
    Hong Kong Limited.                                                        
                                                                              
    The Board of Directors (the "Board") of Chun Wo Holdings Limited          
    (the "Company") has noted the recent increases in the price and           
    trading volume of the shares of the Company and wishes to state           
    that we are not aware of any reasons for such increases save              
    that the Company is currently under negotiation with independent          
    third parties to acquire certain equity interest in a PRC company         
    engaging in pharmacy business (the "Transaction"). No legally             
    binding agreement has been signed and no material terms have              
    been finalised. If the Transaction proceeds, the Company will             
    make the required announcement in compliance with the Listing             
    Rules as and when necessary.                                              
                                                                              
    Save as disclosed above, we confirm that there are no                     
    negotiations or agreements relating to 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.                                                   
                                                                              
    The Transaction may or may not proceed. Shareholders of the               
    Company are advised to exercise caution when dealing in the               
    securities of the Company.                                                
                                                                              
    As at the date of this statement, the Executive Directors of              
    the Company are Mr Pang Kam Chun, Madam Li Wai Hang, Christina,           
    Mr Kwok Yuk Chiu, Clement and Mr Nip Yun Wing, and the Independent        
    Non-executive Directors of the Company are Madam Chen Po Sum,             
    Mr Au Son Yiu, Dr Wong Sai Wing, James, Mr Woo Kam Wai and Mr             
    Chan Chiu Ying.                                                           
                                                                              
    Made by the order of the Board of Chun Wo Holdings Limited the            
    Directors of which individually and jointly accept                        
    responsibility for the accuracy of this statement.                        
                                                                              
    By Order of the Board                                                     
    Kwok Yuk Chiu, Clement                                                    
    Managing Director                                                         
                                                                              
    Hong Kong, 5th May, 2005