09:57     MORNING STAR<00542> - Announcement (2)                              

    Exchange of Hong Kong Limited (the "Stock Exchange")                      
    will cease after 4:00 p.m. on Tuesday, 14th June,                         
    2005;                                                                     
                                                                              
    2.      The registered holders of the 2005 Warrants who                   
    wish to exercise the Subscription Rights must lodge                       
    the 2005 Warrant certificates and the duly completed                      
    and signed subscription forms, together with the                          
    relevant subscription moneys, with the Company's                          
    share registrar in Hong Kong, Tengis Limited (the                         
    "Registrar") at Ground Floor, Bank of East Asia                           
    Harbour View Centre, 56 Gloucester Road, Wanchai,                         
    Hong Kong on or before 4:00 p.m. on Friday, 17th June,                    
    2005;                                                                     
                                                                              
    3.      Persons who have purchased but not yet registered                 
    as holders of the 2005 Warrants and wish to exercise                      
    the Subscription Rights must lodge the relevant 2005                      
    Warrant certificates, together with the duly executed                     
    forms of transfer (duly stamped where appropriate),                       
    the duly completed and signed subscription forms and                      
    the relevant subscription moneys, with the Registrar                      
    at the above address on or before 4:00 p.m. on Friday,                    
    17th June, 2005;                                                          
                                                                              
    4.      New Shares falling to be issued upon the exercise                 
    of the Subscription Rights will be allotted to the                        
    relevant warrantholders not later than 10 business                        
    days after the relevant subscription date and such                        
    new Shares will rank pari passu in all respects with                      
    the Shares in issue on the relevant subscription date;                    
                                                                              
    5.      Subscription forms arriving after 4:00 p.m. on                    
    Friday, 17th June, 2005 will not be regarded as valid                     
    and will therefore not be accepted; and                                   
                                                                              
    6.      Application will be made for the listing of the                   
    2005 Warrants on the Stock Exchange to be withdrawn                       
    with effect from 4:00 p.m. on Friday, 17th June, 2005.                    
                                                                              
    The closing prices of the Shares and 2005 Warrants                        
    of the Company as quoted on the Stock Exchange on 13th                    
    May, 2005 (being the latest practicable date prior                        
    to the publication of this announcement) are HK$0.06                      
    and HK$0.01 respectively.                                                 
                                                                              
    Holders of the 2005 Warrants who are in any doubt as                      
    to their position and action to be taken should                           
    consult their stockbroker or other registered dealer                      
    in securities, bank manager, solicitor, professional                      
    accountant or other professional adviser.                                 
                                                                              
    A circular in respect of the expiry of the 2005                           
    Warrants will be despatched to holders of the 2005                        
    Warrants and, for information only, to the                                
    shareholders of the Company as soon as possible.                          
                                                                              
    By Order of the Board                                                     
    CHAN MOK SENG                                                             
    Executive Director                                                        
                                                                              
    Hong Kong, 13th May, 2005                                                 
                                                                              
    As at the date hereof, the Executive Director of the                      
    Company is Mr CHAN Mok Seng; the Non-Executive                            
    Directors are Tan Sri Dr KHOO Kay Peng (Chairman),                        
    Mr CHEANG Yoon Hoong, Mr KHET Kok Yin, Ms TAN Lian                        
    Tee and Mr Anthony YAP (Alternate Director to Mr KHET                     
    Kok Yin); and the Independent Non-Executive Directors                     
    are Mr WONG Kim Ling, Mr OOI Boon Leong @ LAW Weng                        
    Leun and Mr OH Hong Choon.