15:14     JACKLEY HOLDING<00353> - Announcement (1)                           

    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 the contents of this               
    announcement.                                                             
                                                                              
    This announcement is for information purposes only and does not           
    constitute an invitation or offer to acquire, purchase or                 
    subscribe for any securities.                                             
                                                                              
    ORIENT INDUSTRIES HOLDINGS LIMITED                                        
    *                                                                         
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 353)                                                         
                                                                              
    DESPATCH OF WHITEWASH DOCUMENT RELATING TO                                
    PROPOSED ISSUE OF CONVERTIBLE NOTE AND                                    
    THE WHITEWASH WAIVER                                                      
                                                                              
    A Whitewash Document (as defined hereunder) containing, amongst           
    other things, further details of the Subscription Agreement,              
    the issue of the Convertible Note, the Whitewash Waiver, the              
    recommendation of the independent board committee of the Company          
    to the Independent Shareholders and the letter of advice from             
    the independent financial advisers to the independent board               
    committee of the Company, comprising all the independent                  
    non-executive Directors, and the Independent Shareholders in              
    respect of (i) the Whitewash Waiver; and (ii) the Subscription            
    Agreement and the issue of the Convertible Note and the allotment         
    and the issue of the Conversion Shares upon exercise of the               
    Convertible Note, together with a notice to convene the EGM for           
    the purpose of considering (i) the Whitewash Waiver; and (ii)             
    the Subscription Agreement and the issue of the Convertible Note          
    and the allotment and the issue of the Conversion Shares will             
    be despatched to the Shareholders on 13 May 2005.                         
                                                                              
    The Independent Shareholders are reminded that the EGM for                
    considering, amongst other things, (i) the Subscription                   
    Agreement and the issue of the Convertible Note and the allotment         
    and the issue of the Conversion Shares; and (ii) the Whitewash            
    Waiver will be held at 4:30 p.m. on Monday, 30 May 2005.                  
                                                                              
    Reference is made to the press announcements (the                         
    "Announcements") issued by the Company dated 15 April 2005 and            
    5 May 2005. Terms used in this announcement shall have the same           
    meanings as those defined in the Announcements unless defined             
    otherwise herein.                                                         
                                                                              
    DESPATCH OF WHITEWASH DOCUMENT                                            
                                                                              
    A whitewash document (the "Whitewash Document") containing,               
    amongst other things, further details of the Subscription                 
    Agreement, the issue of the Convertible Note, the Whitewash               
    Waiver, the recommendation of the independent board committee             
    of the Company to the Independent Shareholders and the letter             
    of advice from the independent financial advisers to the                  
    independent board committee of the Company, comprising all the            
    independent non-executive Directors, and the Independent                  
    Shareholders in respect of (i) the Whitewash Waiver; and (ii)             
    the Subscription Agreement and the issue of the Convertible Note          
    and the allotment and the issue of the Conversion Shares upon             
    exercise of the Convertible Note, together with a notice to               
    convene the EGM for the purpose of considering (i) the Whitewash          
    Waiver; and (ii) the Subscription Agreement and the issue of              
    the Convertible Note and the allotment and the issue of the               
    Conversion Shares will be despatched to the Shareholders on 13            
    May