10:43     SHELL ELECTRIC<00081>-Announcement&Resumption of Trading (4)        

    at bank amounts to approximately HK$350 million.                          
                                                                              
    To the best knowledge and belief of the Directors,                        
    apart from the Consideration Shares, the Vendor does                      
    not have any interest in rights or options convertible                    
    into Shares.                                                              
                                                                              
    Conditions precedent                                                      
    Completion is conditional upon satisfaction of the                        
    following conditions:                                                     
                                                                              
    (a)     the Purchaser having obtained a legal opinion                     
    issued by the PRC legal advisers to the Vendor                            
    confirming the legality and validity of the holding                       
    by Jodrell of 70% interest in EB Real Estate;                             
                                                                              
    (b)     the Purchaser having obtained a legal opinion                     
    issued by the BVI legal advisers to the Vendor                            
    confirming, among other matters, the due                                  
    incorporation and valid existence of each of                              
    Tigerlily and Jodrell;                                                    
                                                                              
    (c)     Tigerlily having entered into a supplemental                      
    shareholders agreement with the other shareholder of                      
    Jodrell;                                                                  
                                                                              
    (d)     Jodrell having adopted its restated and amended                   
    memorandum and articles of association;                                   
                                                                              
    (e)     the Purchaser having received the audited                         
    consolidated financial statements of Tigerlily and                        
    its subsidiaries for the three years ended 31 December                    
    2004 prepared in accordance with the accounting                           
    principles generally accepted in Hong Kong and comply                     
    with accounting standards issued by the Hong Kong                         
    Institute of Certified Public Accountants and there                       
    having been no material deviation between such                            
    financial statements and the audited consolidated                         
    financial statements of the EB Real Estate for the                        
    year ended 31 December 2004 prepared in accordance                        
    with the accounting principles generally accepted in                      
    the PRC;                                                                  
                                                                              
    (f)     the obtaining of Shareholders' approval of the                    
    Acquisition in accordance with the requirements under                     
    the Listing Rules; and                                                    
                                                                              
    (g)     there having been no material breach of                           
    warranties.                                                               
                                                                              
    Apart from (f) above, if any of the conditions                            
    precedent is not fulfilled or waived on or before the                     
    Longstop Date, the Agreement will be terminated and                       
    the Good Faith Deposit and the Deposit will be                            
    refunded to the Purchaser without interest. If the                        
    Shareholders' approval referred to in (f) above is                        
    not obtained as result of the Shareholders holding                        
    in aggregate of 51% or more of the Company's present                      
    issued share capital not voting in favour of the                          
    resolution approving the Acquisition, the Vendor will                     
    be entitled to terminate the Agreement and forfeit                        
    the Good Faith Deposit and the Deposit.                                   
                                                                              
    Completion                                                                
    Subject to the fulfillment or waiver of the conditions                    
    precedent above, Completion will take place on the                        
    Business Day following the fulfillment (or if                             
    applicable, waiver) of all the above conditions                           
    precedent or such other date to be mutually agreed                        
    by the parties.                                                           
                                                                              
    If Completion does not take place due to any default                      
    by the Vendor, the Vendor shall, in addition to the                       
    refund of the Good Faith Deposit and the Deposit, pay                     
    to the Purchaser an amount of HK$100,000,000