09:08     WANG ON GROUP<01222> - 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.                   
                                                                              
    WANG ON GROUP LIMITED                                                     
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1222)                                                        
                                                                              
    ANNOUNCEMENT                                                              
    INCREASE IN TRADING VOLUME AND SHARE PRICE                                
                                                                              
    The Directors have noted the recent increase in the trading volume and    
    the price of the shares of the Company and wish to state that, the        
    Company is in preliminary discussions with property agents to ascertain   
    if any suitable opportunities exist for any possible acquisition or       
    disposal of properties as part of the usual and ordinary course of        
    business of the Group and, except for such discussions, the Company is    
    not aware of any reasons for such increase.                               
                                                                              
    Shareholders and potential investors are advised to exercise caution      
    when dealing in shares of the Company.                                    
                                                                              
    This announcement is made at the request of The Stock Exchange of Hong    
    Kong Limited (the "Stock Exchange").                                      
                                                                              
    The directors (the "Directors") of Wang On Group Limited (the             
    "Company") have noted the recent increase in the trading volume and the   
    price of the shares of the Company and wish to state that, the Company    
    is in preliminary discussions with property agents to ascertain if any    
    suitable opportunities exist for any possible acquisition or disposal     
    of properties as part of the usual and ordinary course of business of     
    the Group and, except for such discussions, the Company is not aware of   
    any reasons for such increase.                                            
                                                                              
    The Directors confirms that save as disclosed above, there are no         
    negotiations or agreements relating to intended acquisitions or           
    realisations which are discloseable under Rule 13.23 of the Listing       
    Rules, neither is the board aware of any matter discloseable under the    
    general obligation imposed by Rule 13.09 of the Listing Rules, which is   
    or may be of a price-sensitive nature.                                    
                                                                              
    Shareholders and potential investors are advised to exercise caution      
    when dealing in shares of the Company.                                    
                                                                              
    This announcement is made by the order of the board (the "Board") of      
    the Company, the Directors of which individually and jointly accept       
    responsibility for the accuracy of this statement.                        
                                                                              
    As at the date of this announcement, the Board comprises three            
    executive Directors, namely Mr. Tang Ching Ho, Ms. Yau Yuk Yin and Mr.    
    Chan Chun Hong, Thomas, and four independent non-executive Directors,     
    namely Dr. Lee Peng Fei, Allen, Mr. Wong Chun, Justein, Dr. Siu Yim       
    Kwan, Sidney and Mr. Siu Kam Chau.                                        
                                                                              
    By Order of the Board                                                     
    Wang On Group Limited                                                     
    Chan Chun Hong, Thomas                                                    
    Director                                                                  
                                                                              
    Hong Kong, 18 May 2005