09:16     COMPASS PACIFIC<01188> - 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 the contents of this announcement.                   
                                                                              
                                                                              
            Compass Pacific Holdings Limited                                  
            (Incorporated in Bermuda with limited liability)                  
            (Stock code: 1188)                                                
                                                                              
    FURTHER DEFERRAL OF DISPATCH OF CIRCULAR                                  
    IN RESPECT OF A VERY SUBSTANTIAL ACQUISITION                              
    IN RELATION TO ACQUISITION OF APG                                         
                                                                              
    Dispatch of the Circular to Shareholders will be further deferred as the  
    Company and the reporting accountants for the Acquisitions require more   
    time to finalize the accounting reports of the APG Group to be included   
    in the Circular. It is currently expected that the Circular will be       
    dispatched to the Shareholders on or before 6 June 2005. The Company has  
    applied to the Stock Exchange for a waiver from strict compliance with    
    Rule 14.38 of the Listing Rules and an extension for the dispatch of the  
    Circular to on or before 6 June 2005.                                     
                                                                              
    Reference is made to the announcement of Compass Pacific Holdings         
    Limited ("the Company") dated 18 March 2005 ("the Announcement") in       
    respect of the Acquisitions (as defined in the Announcement). Unless the  
    context requires otherwise, terms and expressions used herein shall have  
    the same meanings as those defined in the Announcement.                   
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, a circular in respect of     
    the Acquisitions ('the Circular") is required to be dispatched to the     
    Shareholders within 21 days after publication of the Announcement, being  
    no later than 11 April 2005. On 8 April 2005, the Company issued an       
    announcement informing the Shareholders that it had applied to the Stock  
    Exchange for an extension for the dispatch of the Circular to on or       
    before 17 May 2005.                                                       
                                                                              
    The Company and the reporting accountants for the Acquisitions have       
    since gathered and completed the audit of the financial information of    
    the APG Group, however, more time is required to finalize the             
    accountants' reports of the APG Group to be included in the Circular.     
    Accordingly, the dispatch of the Circular will have to be further         
    deferred. It is currently expected that the Circular will be dispatched   
    to the Shareholders on or before 6 June 2005. The Company has applied to  
    the Stock Exchange for a waiver from strict compliance with Rule 14.38    
    of the Listing Rules and an extension for the dispatch of the Circular    
    to on or before 6 June 2005.                                              
                                                                              
    As at the date of this announcement, the Board comprises six executive    
    Directors, namely, Mr. Yung Yeung (Chairman), Mr. Chunhua Huang (Deputy   
    Chairman), Mr. Jun Li (Chief Executive Officer), Mr. Yuwen Sun, Mr. Wing  
    Tak Law, Jack (Chief Financial Officer and Company Secretary), Mrs.       
    Chizuko Kubo and three independent non-executive Directors, namely, Mr.   
    Jian Wang, Mr. Bangjie He and Mr. Ho Yip Lee.                             
                                                                              
    By order of the Board                                                     
    Compass Pacific Holdings Limited                                          
    Law Wing Tak, Jack                                                        
    Director                                                                  
                                                                              
    Hong Kong, 13 May 2005