09:52     EGANAGOLDPFEIL<00048> - Announcement (3)                            

    Each party convenants not to bring any claims or commence any             
    proceedings whatsoever in any jurisdiction against the other party        
    arising out of, or in any way connected with, or relating to the          
    First Subscription Right, the Tranche 3 Bonds and the Second              
    Subscription Right.                                                       
                                                                              
    Reasons for entering into the Agreement                                   
    The Company in order to prevent the shareholders' interests of the        
    Company from further dilution and to maximise the Shareholders' value     
    is obliged to enter into the Agreement.                                   
                                                                              
    GENERAL                                                                   
    At the date of this announcement, the issued ordinary share capital       
    of the Company is HK$1,246,756,051 comprising 1,246,756,051 Shares.       
    Mr. Hans-Joerg SEEBERGER, the single largest shareholder of the           
    Company, currently holds 478,620,553 Shares, representing                 
    approximately 38.60% of the existing issued ordinary share capital of     
    the Company.                                                              
                                                                              
    The terms of the Agreement were negotiated on an arm's length basis       
    and the Directors believe that they are fair and reasonable so far as     
    the Company is concerned and is in the interest of the Company and        
    its shareholders as a whole.                                              
                                                                              
    After the payment of the Consideration, the First Subscription            
    Right, the Tranche 3 Bonds and the Second Subscription Right will be      
    lapsed automatically.                                                     
                                                                              
    Definitions                                                               
    `Additional Tranche 1 Bonds'   Convertible bonds due 2006                 
                                   with an aggregate amount of                
                                   US$5,000,000 issued by the                 
                                   Company to CSFB under the                  
                                   First Subscription                         
                                   Agreement                                  
    `Bonds'                        The Tranche 1 Bonds,                       
                                   Additional Tranche 1 Bonds                 
                                   and Tranche 2                              
                                   Bonds                                      
    `Company'                      EganaGoldpfeil (Holdings)                  
                                   Limited, the securities of                 
                                   which are listed on the Stock              
                                   Exchange                                   
    `CSFB'                         Credit Suisse First Boston                 
                                   (Hong Kong)                                
                                   Limited                                    
    `Directors'                    the directors of the Company               
    `First Subscription Agreement' The agreement dated 27th                   
                                   February, 2003 entered into                
                                   between the Company and CSFB               
                                   (as amended by a letter                    
                                   agreement dated 11th June,                 
                                   2003 and an agreement dated                
                                   15th January, 2004) in                     
                                   connection with the issue of               
                                   the Tranche 1 Bonds,                       
                                   Additional Tranche 1 Bonds                 
                                   and Tranche 2                              
                                   Bonds                                      
    `First Subscription Right'     The options granted by the                 
                                   Company to CSFB in respect of              
                                   each of the Tranche 1 Bonds,               
                                   Additional Tranche 1 Bonds                 
                                   and Tranche 2 Bonds to                     
                                   subscribe for Shares of the                
                                   Company under the First                    
                                   Subscription Agreement                     
    `Second Subscription           The agreement dated 15th                   
    Agreement'                     January, 2004 entered into                 
                                   between the Company and CSFB               
                                   in connection with the issue               
                                   of the Tranche 3                           
                                   Bonds                                      
    `Second Subscription Right'    The option granted by the                  
                                   Company to CSFB in respect of              
                                   the Tranche 3 Bonds to                     
                                   subscribe for Shares of the                
                                   Company under the Second                   
                                   Subscription                               
                                   Agreement                                  
    `Share(s)'                     Ordinary Share(s) of HK$1.00               
                                   each in the capital of the                 
                                   Company                                    
    `Tranche 1 Bonds'              Convertible bonds due 2006                 
                                   with an aggregate amount of                
                                   US$10,000,000 issued by the                
                                   Company to CSFB under the                  
                                   First Subscription                         
                                   Agreements                                 
    `Tranche 2 Bonds'              Convertible bonds due 2006                 
                                   with an aggregate amount of                
                                   US$10,000,000 issued by the                
                                   Company to CSFB under the