09:11     CHINA VELOCITY<00149> - Unusual price & volume movements            

    The Stock Exchange has received a message from China Velocity Group       
    Limited which is reproduced as follows:-                                  
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted today the increase in the price and increase in the trading 
    volume of the shares of China Velocity Group Limited (the "Company")      
    and wish to state that we are not aware of any reasons for such increases.
                                                                              
    Save as disclosed in the announcements of the Company dated 11 May 2005   
    regarding the major transaction: disposal of More Cash, we confirm that   
    there are no negotiations or agreements relating to intended acquisitions 
    or realizations which are discloseable under rule 13.23, neither is the   
    Board aware of any matter discloseable under general obligation imposed by
    rule 13.09, which is or may be of a price-sensitive nature.               
                                                                              
    Made by the order of China Velocity Group Limited, the Directors of       
    which individually and jointly accept responsibility for the accuracy of  
    this statement.                                                           
                                                                              
    As at the date of this statement, the Board comprises Mr. Chan Yeung Nam  
    and Mr. Fu Jie Pin as executive Directors, Mr. Tang Cheung Fai, Mr. Lam   
    Ping Cheung and Mr. Jee Wengue as independent non-executive Directors     
                                                                              
                                                                              
    For and on behalf of                                                      
    China Velocity Group Limited                                              
                                                                              
                                                                              
                                                                              
    Sin Ka Man                                                                
    Company Secretary                                                         
                                                                              
    Hong Kong, 13 May 2005"