10:16     K. WAH INT'L<00173> & K. WAH CONS<00027> - Joint Ann.               

    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 of the contents of this                    
    announcement.                                                             
                                                                              
    K. WAH INTERNATIONAL HOLDINGS LIMITED                                     
    (incorporated in Bermuda with limited liability)                          
    (Stock Code: 173)                                                         
                                                                              
    K. WAH CONSTRUCTION MATERIALS LIMITED                                     
    (incorporated in Hong Kong with limited liability)                        
    (Stock Code: 27)                                                          
                                                                              
    POSSIBLE ACQUISITION OF 88.1% OF THE VOTING SHARES CARRYING 97.9%         
    OF                                                                        
    THE ECONOMIC INTEREST IN                                                  
    GALAXY CASINO, S.A.                                                       
    CONNECTED TRANSACTION AND VERY SUBSTANTIAL ACQUISITION FOR                
    AND CHANGE OF NAME OF                                                     
    K. WAH CONSTRUCTION MATERIALS LIMITED                                     
    AND                                                                       
    CONNECTED TRANSACTION, DEEMED VERY SUBSTANTIAL DISPOSAL                   
    AND VERY SUBSTANTIAL ACQUISITION FOR                                      
    K. WAH INTERNATIONAL HOLDINGS LIMITED                                     
                                                                              
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    KWIH and KWCM  have applied to the Stock Exchange for the date of         
    despatch of the circular containing, inter alia, details of the           
    possible acquisition by KWCM of the Galaxy Equity Interest                
    announced on 18th April 2005 to be extended to not later than 31st        
    May 2005.                                                                 
                                                                              
    On 18th April 2005, K. Wah International Holdings Limited                 
    (``KWIH'') and K. Wah Construction Materials Limited (``KWCM'')           
    made a press announcement (the ``Announcement'') regarding, inter         
    alia, the possible acquisition by KWCM of the Galaxy Equity               
    Interest. Unless otherwise defined, capitalised terms used herein         
    have the meanings ascribed to them in the Announcement.                   
                                                                              
    Pursuant to Rules 14.38, 14.48 and 14A.49 of the Listing Rules,           
    a circular (the ``Circular'') containing, among other things,             
    details of the possible acquisition by KWCM of the Galaxy Equity          
    Interest, is required to be despatched by KWIH and KWCM to their          
    respective shareholders within 21 days after the publication of           
    the Announcement.                                                         
                                                                              
    Additional time is required to finalise the financial information         
    (particularly pro forma information on KWIH and its subsidiaries          
    and on KWCM and its subsidiaries after the Acquisition) and               
    property valuations to be included in the Circular.  KWIH and KWCM        
    have applied to the Stock Exchange for an extension of the deadline       
    for despatching the Circular to not later than 31st May 2005.             
                                                                              
    At the date of this announcement, the executive directors of KWIH         
    are Dr. Lui Che Woo, Mr. Francis Lui Yiu Tung, Mr. Lennon Lun Tsan        
    Kau, Mr. Eddie Hui Ki On, Mr. William Lo Chi Chung and Ms. Paddy          
    Tang Lui Wai Yu, the non-executive directors are Mr. Michael Leung        
    Man Kin and Dr. Philip Wong Kin Hang, and the independent                 
    non-executive directors are Sir David Akers-Jones, Dr. Leo Lee            
    Tung Hai, Dr. Robin Chan Yau Hing, Dr. Charles Cheung Wai Bun and         
    Mr. Robert George Nield.                                                  
                                                                              
    At the date of this announcement, the executive directors of KWCM         
    are Dr. Lui Che Woo, Mr. Francis Lui Yiu Tung, Mr. Chan Kai Nang,         
    Mr. William Lo Chi Chung, Ms. Paddy Tang Lui Wai Yu and Mr. Joseph        
    Chee Ying Keung, the non-executive director is Mr. Moses Cheng Mo         
    Chi, and the independent non-executive directors are Dr. Charles          
    Cheung Wai Bun, Mr. James Ross Ancell and Dr. William Yip Shue Lam.       
                                                                              
    By Order of the Board of                                                  
    K. Wah International Holdings Limited                                     
    Seaman KWOK Siu Man                                                       
    Company Secretary                                                         
                                                                              
    By Order of the Board of                                                  
    K. Wah Construction Materials Limited                                     
    Kitty CHAN Lai Kit                                                        
    Company Secretary                                                         
                                                                              
    Hong Kong, 6th May 2005                                                   
                                                                              
    * For identification only