10:24 GLOBAL GREEN<00274> - Announcement 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 part of this announcement. This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities. GLOBAL GREEN TECH GROUP LIMITED (incorporated in the Cayman Islands with limited liability) (Stock Code: 274) REVISIONS OF THE SUBSCRIPTION PRICES FOR THE WARRANTS AND INCREASE IN TRADING VOLUME The Directors proposed to revise (1) the proposed subscription price of the 2007 Warrants from HK$1.5 per Share to HK$0.9654 per Share and (2) the proposed subscription price of the 2008 Warrants from HK$2.5 to HK$1.3 per Share. A circular containing, among other matters, details of the Bonus Issues together with the notice convening the forthcoming annual general meeting of the Company for the approval of, among other matters, the Bonus Issues will be sent to the shareholders of the Company as soon as practicable. REVISIONS OF THE SUBSCRIPTION PRICES FOR THE WARRANTS Reference is made to the Company's announcement dated 25 April 2005 ("First Announcement") in relation to the proposed bonus issue of warrants by the Company to its shareholders. Terms used in this announcement shall have the same meanings as defined in the First Announcement. The Directors proposed to revise (1) the proposed subscription price of the 2007 Warrants from HK$1.5 per Share to HK$0.9654 per Share and (2) the proposed subscription price of the 2008 Warrants from HK$2.5 to HK$1.3 per Share. Based on the revised proposed subscription price, it is expected that the Company will receive net proceeds of about HK$89 million and HK$120 million upon exercise in full of the 2007 Warrants and the 2008 Warrants respectively. Save for the above, the terms and conditions of the 2007 Warrants and the 2008 Warrants remain the same as contained in the First Announcement. A circular containing, among other matters, details of the Bonus Issues together with the notice convening the forthcoming annual general meeting of the Company for the approval of, among other matters, the Bonus Issues will be sent to the shareholders of the Company as soon as practicable. INCREASE IN TRADING VOLUME The board of Directors ("Board") noted the increase in trading volume of the shares of the Company today and wish to state that the Board is not aware of any reasons for such increase save for the proposed bonus issues of the 2007 Warrants and the 2008 Warrants, the details of which are set out in the First Announcement and this announcement. The Board confirms that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Rule 13.23, neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09, which is or may be a price-sensitive nature. Made by the order of the Board of the Company the directors of which individually and jointly accept responsibility for the accuracy of this statement. As at the date hereof, the Board comprises the following members: Executive directors: Mr. Lau Jin Wei, Jim Ms. Wong Wai Kwan, Connie Mr. Wong Ying Yin Independent non-executive directors: Mr. Ou Ying Ji Mr. Lin Jian Mr. Lee Pak Chung Non-executive director: Mr. Yip Wai Leung, Jerry By Order of the Board of Global Green Tech Group Limited Lau Jin Wei, Jim Chairman Hong Kong, 11 May 2005