09:21     PEAKTOP INT'L<00925> - Announcement & Resumption (2)                

    in this regard.                                                           
                                                                              
    A circular containing, among other things, further                        
    details of the Capitalisation, the IFA Letter, the                        
    recommendation of the Independent Board Committee to                      
    the Independent Shareholders on the Capitalisation                        
    together with the notice of the SGM will be despatched                    
    to the Shareholders within 21 days from the date of                       
    this announcement.                                                        
                                                                              
    Trading in the Shares on the Stock Exchange was                           
    suspended at the request of the Company from 9:30 a.m.                    
    on 28 April 2005 pending the release of this                              
    announcement. Application has been made to the Stock                      
    Exchange for the resumption of trading in Shares at                       
    9:30 a.m. on 19 May 2005.                                                 
                                                                              
    THE SHAREHOLDERS' LOANS                                                   
    On 29 March 2005, the Company entered into Loan                           
    Agreements with each of Mr. Lin, Mr. Halim and Mr.                        
    Ng, pursuant to which each of Mr. Lin, Mr. Halim and                      
    Mr. Ng has agreed to lend a sum of US$750,000                             
    (equivalent to approximately HK$5,850,000) to the                         
    Company.                                                                  
                                                                              
    The Shareholders' Loans are repayable by the Company                      
    to each of Mr. Lin, Mr. Halim and Mr. Ng upon demand                      
    by each of Mr. Lin, Mr. Halim and Mr. Ng. The                             
    Shareholders' Loans are unsecured, not guaranteed and                     
    do not carry any interest. There are no undertakings                      
    provide by the Company to capitalise the                                  
    Shareholders' Loans.                                                      
                                                                              
    CAPITALISATION                                                            
    On 18 May 2005, the Company entered into the                              
    Capitalisation Agreements with each of Mr. Lin, Mr.                       
    Halim and Mr. Ng, pursuant to which Mr. Lin, Mr. Halim                    
    and Mr. Ng have conditionally agreed to subscribe for                     
    42,086,000 new Shares each in cash at a subscription                      
    price of approximately HK$0.139 per Share.                                
                                                                              
    As at the date of the Capitalisation Agreements, the                      
    Company was indebted to each of Mr. Lin, Mr. Halim                        
    and Mr. Ng in the sum of US$750,000 (equivalent to                        
    approximately HK$5,850,000) each. The subscription                        
    price payable by each of Mr. Lin, Mr. Halim and Mr.                       
    Ng under the Capitalisation Agreements will be                            
    satisfied by capitalising the entire amount of the                        
    Shareholders' Loans due from the Company to Mr. Lin,                      
    Mr. Halim and Mr. Ng.                                                     
                                                                              
    The Subscription Shares represent approximately                           
    17.27% of the existing issued share capital of the                        
    Company and approximately 14.73% of the issued share                      
    capital of the Company as enlarged by the allotment                       
    and issue of the Subscription Shares.                                     
                                                                              
    Subscription Price                                                        
    The subscription price of approximately HK$0.139 per                      
    Subscription Share represents:                                            
                                                                              
    (a)     the closing price of HK$0.139 per Share as                        
    quoted on the Stock Exchange on 27 April 2005, being                      
    the last trading day before the date of this                              
    announcement;                                                             
                                                                              
    (b)     the average closing price of approximately                        
    HK$0.139 per Share as quoted on the Stock Exchange                        
    for the last five consecutive trading days up to and                      
    including 27 April 2005;                                                  
                                                                              
    (c)     a premium of approximately 0.22% over the                         
    average closing price of approximately HK$0.1387 per                      
    Share as quoted on the Stock Exchange for the