10:33     NGAI HING HONG<01047> - Announcement & Resumption (8)               

    potential, and therefore enhance the overall value of the Shares.         
    However, the Company has not identified any specific investment           
    target of acquisitions as at the date of this announcement. Moreover,     
    the Directors are of the view that it is in the interests of the          
    Company and its Shareholders as a whole to raise the capital through      
    the Open Offer since it would allow the Qualifying Shareholders to        
    maintain their respective pro rata shareholdings in the Company and       
    participate in the future growth and development of the Company.          
                                                                              
    The estimated expenses of the Open Offer is about HK$800,000, which       
    will be borne by the Company. The net proceeds of approximately           
    HK$35.20 million will be used as general working capital of the           
    Group.                                                                    
                                                                              
    ADJUSTMENT TO THE OPTIONS                                                 
    Under the terms of the share option scheme of the Company adopted on      
    5 December 2002, adjustments to the exercise price or number of the       
    options granted is required upon the completion of the Open Offer.        
    Such adjustment(s) will be set out in the Company's announcement of       
    results of acceptance of the Open Offer.                                  
                                                                              
    GENERAL                                                                   
    As at the date of this announcement, the executive Directors are Mr.      
    Hui Sai Chung, Mr. Hui Kwok Kwong, Dr. Wong Chi Ying, Anthony, Mr.        
    Lai Kam Wah, Mr. Ching Yu Lung and Madam Liu Sau Lai; and the             
    independent non-executive Directors are Mr. Ho Wai Chi, Paul, Mr.         
    Fong Pong Hing and Mr. Chan Dit Lung.                                     
                                                                              
    SUSPENSION AND RESUMPTION OF TRADING                                      
    At the request of the Company, trading in Shares on the Stock             
    Exchange was suspended from 9:30 a.m. on Monday, 9 May 2005 pending       
    the release of this announcement. Application has been made by the        
    Company to the Stock Exchange for resumption of trading in Shares on      
    the Stock Exchange with effect from 9:30 a.m. on Wednesday, 11 May        
    2005.                                                                     
                                                                              
    DEFINITIONS                                                               
    `Acceptance Date'              Thursday, 9 June 2005 (or                  
                                   such other date as the                     
                                   Underwriter may agree in                   
                                   writing with the Company as                
                                   the latest date for lodging                
                                   the application of and                     
                                   payment for the Offer Shares)              
    `Application Form(s)'          the application form(s) for                
                                   use by the Qualifying                      
                                   Shareholders to apply for the              
                                   Offer Shares                               
    `Board'                        the board of the Directors                 
    `Business Day'                 a day on which banks in Hong               
                                   Kong are generally open for                
                                   business (other than a                     
                                   Saturday and any day on which              
                                   a tropical cyclone warning                 
                                   No. 8 or above is hoisted or               
                                   remains hoisted between 9:00               
                                   a.m. and 12:00 noon and is                 
                                   not lowered at or before                   
                                   12:00 noon or on which a                   
                                   `black' rainstorm warning                  
                                   signal is hoisted or remains               
                                   in effect between 9:00 a.m.                
                                   and 12:00 noon and is not                  
                                   discontinued at or before                  
                                   12:00 noon)                                
    `Company'                      Ngai Hing Hong Company                     
                                   Limited, an exempted company               
                                   incorporated in Bermuda with               
                                   limited liability, the Shares              
                                   of which are listed on the                 
                                   Stock Exchange                             
    `Director(s)'                  the director(s) of the                     
                                   Company, including the                     
                                   independent non-executive                  
                                   directors of the Company                   
    `Excess Application Form(s)'   the form(s) of application                 
                                   for use by the Qualifying                  
                                   Shareholders who wish to                   
                                   apply for excess Offer                     
                                   Shares, being in such usual                
                                   form as may be agreed between              
                                   the Company and the                        
                                   Underwriter                                
    `Group'                        the Company and its                        
                                   subsidiaries                               
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   PRC                                        
    `Last Trading Day'             6 May 2005, being the last                 
                                   trading day which was                      
                                   immediately prior to the                   
                                   suspension of trading in the               
                                   Shares on the Stock Exchange               
                                   pending the release of this