11:29     IPE GROUP<00929> - Announcement & Resumption (8)                    

    "Hong Kong"     the Hong Kong Special Administrative                      
    Region of the PRC                                                         
                                                                              
    "IPO"   the initial public offering of 127,500,000 new                    
    Shares by way of placing and public offer as described                    
    in the Prospectus                                                         
                                                                              
    "Listing Rules" the Rules Governing the Listing of                        
    Securities on the Stock Exchange                                          
                                                                              
    "Placing"       the placing of the Placing Shares by the                  
    Placing Agent on behalf of Tottenhill pursuant to the                     
    Placing Agreement on a best effort basis                                  
                                                                              
    "Placing Agent" UOB Kay Hian (Hong Kong) Limited, a                       
    licensed corporation to carry on business in types                        
    1 (dealing in securities), 4 (advising on securities),                    
    and 6 (advising on corporate finance) regulated                           
    activities under the Securities and Futures Ordinance                     
    (Chapter 571 of the Laws of Hong Kong)                                    
                                                                              
    "Placing Agreement"     the placing agreement dated 10                    
    May 2005 and entered into between Tottenhill and the                      
    Placing Agent in respect of the Placing                                   
                                                                              
    "Placing Price" the placing price of HK$1.15 per                          
    Placing Share                                                             
                                                                              
    "Placing Shares"        an aggregate of 100,000,000 Shares,               
    which are beneficially owned by Tottenhill and will                       
    be placed by the Placing Agent on its behalf pursuant                     
    to the Placing Agreement                                                  
                                                                              
    "PRC"   People's Republic of China, which for the                         
    purpose of this announcement, excludes Hong Kong,                         
    Taiwan and Macau Special Administrative Region                            
                                                                              
    "Prospectus"    the prospectus of the Company dated 19                    
    October 2004 in connection with the IPO                                   
                                                                              
    "Share(s)"      ordinary share(s) of HK$0.10 each in the                  
    share capital of the Company                                              
                                                                              
    "Shareholder(s)"        holder(s) of the Share(s)                         
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited                                                                   
                                                                              
    "Subscription"  the subscription for the                                  
    Subscription Shares by Tottenhill pursuant to the                         
    Subscription Agreement                                                    
                                                                              
    "Subscription Agreement"        the conditional                           
    subscription agreement dated 10 May 2005 and entered                      
    into between the Company and Tottenhill in respect                        
    of the Subscription                                                       
                                                                              
    "Subscription Shares"   100,000,000 Shares for which                      
    Tottenhill has conditionally agreed to subscribe                          
    pursuant to the Subscription Agreement                                    
                                                                              
    "Tottenhill"    Tottenhill Limited, a company                             
    incorporated in the British Virgin Islands and a                          
    controlling Shareholder which is interested in                            
    approximately 74.48% of the entire issued share                           
    capital of the Company immediately before the                             
    completion of the Placing and the Subscription                            
                                                                              
    "Zengcheng Development Project" the development                           
    project carried out by the Group to construct                             
    production facilities in Zengcheng City, Guangdong                        
    Province, the PRC as disclosed in the Prospectus                          
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency for the