10:06     WONG'S INT'L<00099> - Announcement (2)                              

    (iii) The Group's interest in TWL is a minority interest in an unlisted   
    company. The disposal represents a good opportunity for the Company       
    to realize its interest in TWL.                                           
                                                                              
    It is currently expected that the net proceeds generated from the         
    disposal will be utilized for repaying bank loans and/or for the          
    general working capital of the Group.                                     
                                                                              
    FINANCIAL EFFECTS OF THE TRANSACTION                                      
    Immediately prior to the entering of the Repurchase Agreement, TWL        
    was a 30% owned associate of the Group. After completion of the           
    Repurchase Agreement, the Group will cease to have any interest in        
    TWL and TWL will become a wholly owned subsidiary of Tomiyama.            
                                                                              
    The total capital injection paid by the Group in respect of its           
    interest in TWL amounted to HK$2,550,000. The net asset value of the      
    Group's 30% interest in TWL, as reflected in the audited consolidated     
    balance sheet of the Group as at 31 December 2004, amounted to            
    HK$15,514,000. Accordingly, completion of the Repurchase Agreement is     
    expected to result in a loss on disposal in the amount of                 
    approximately HK$6,264,000.                                               
                                                                              
    GENERAL                                                                   
    The Group is principally engaged in the development, manufacture,         
    marketing and distribution of electronic products, including              
    micro-computers, telecommunication equipment, broadband communication     
    products, internet appliances, wireless communication or networking       
    equipment and other electronic products.                                  
                                                                              
    The entering into of the Repurchase Agreement constitutes a               
    discloseable transaction of the Company under Chapter 14 of the           
    Listing Rules. The Company will send a circular to shareholders           
    within 21 days after the publication of this announcement, setting        
    out the details of the Repurchase Agreement and other information         
    prescribed by the Listing Rules.                                          
                                                                              
    DEFINITIONS                                                               
    `Board'                        the board of directors of the              
                                   Company                                    
    `Company'                      Wong's International                       
                                   (Holdings) Limited, a company              
                                   incorporated in Bermuda with               
                                   limited liability whose                    
                                   shares are listed on the main              
                                   board of the Stock                         
                                   Exchange                                   
    `Season'                       Season Industries Limited, a               
                                   company incorporated in Hong               
                                   Kong with limited liability                
                                   and a wholly owned subsidiary              
                                   of the                                     
                                   Company                                    
    `Directors'                    the directors of the Company               
    `Group'                        the Company and its                        
                                   subsidiaries                               
    `HK$'                          Hong Kong dollars, the lawful              
                                   currency of Hong                           
                                   Kong                                       
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on the               
                                   Stock                                      
                                   Exchange                                   
    `Repurchase Agreement'         the agreement between Season               
                                   and TWL dated 22 April 2005                
                                   whereby Season agrees to                   
                                   sell, and TWL agrees to                    
                                   repurchase, 2,550,000 shares               
                                   in TWL (equivalent to 30% of               
                                   the issued share capital of                
                                   TWL) held by                               
                                   Season                                     
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong                                       
                                   Limited                                    
    `Tomiyama'                     Hong Kong Tomiyama Limited, a              
                                   company incorporated in Hong               
                                   Kong with limited liability                
                                   and a third party independent              
                                   of and not connected with the              
                                   Company and its connected                  
                                   persons (as defined in the                 
                                   Listing                                    
                                   Rules)                                     
    `TWL'                          Tomiyama Wong Limited, a                   
                                   company incorporated in Hong               
                                   Kong with limited liability                
                                   and a 70:30 joint venture                  
                                   between Tomiyama and the                   
                                   Group prior to the entering                
                                   into of the Repurchase                     
                                   Agreement