09:21     PEAKTOP INT'L<00925> - Announcement & Resumption (3)                

    last 10 consecutive trading days up to and including                      
    27 April 2005; and                                                        
                                                                              
    (d)     a discount of approximately 54.62% to the net                     
    tangible asset value per Share of approximately                           
    HK$0.3063 as shown in the Group's audited                                 
    consolidated financial statements made up to 31                           
    December 2004.                                                            
                                                                              
    The subscription price was arrived at after arm's                         
    length negotiations between the Company, Mr. Lin, Mr.                     
    Halim and Mr. Ng. The Directors (including the                            
    independent non-executive Directors subject to the                        
    receipt of the IFA Letter) consider that the                              
    subscription price (including the premium over the                        
    average closing price as quoted on the Stock Exchange                     
    for the last 10 consecutive trading days up to and                        
    including 27 April 2005 and the discount to the net                       
    tangible asset value per Share as shown above) and                        
    the terms of the Capitalisation and the                                   
    Capitalisation Agreements are fair and reasonable and                     
    are in the interests of the Shareholders as a whole.                      
                                                                              
    Rights                                                                    
    The Subscription Shares, when allotted and issued,                        
    will rank equally in all respects among themselves                        
    and with the Shares in issue on the date of allotment                     
    and issue of the Subscription Shares.                                     
                                                                              
    Mandate to issue Subscription Shares                                      
    The SGM will be convened and held to consider and,                        
    if thought fit, to approve, among other things, the                       
    allotment and issue of the Subscription Shares to Mr.                     
    Lin, Mr. Halim and Mr. Ng pursuant to the                                 
    Capitalisation by way of poll.                                            
                                                                              
    Conditions of the Capitalisation                                          
    The Capitalisation Agreements are not                                     
    inter-conditional. Each of the Capitalisation                             
    Agreements is conditional upon the following                              
    conditions having been fulfilled:                                         
                                                                              
    (a)     the Independent Shareholders passing at the SGM                   
    the necessary resolutions approving the                                   
    Capitalisation and all other transactions                                 
    contemplated thereunder;                                                  
                                                                              
    (b)     the Listing Committee of the Stock Exchange                       
    granting or agreeing to grant listing of, and                             
    permission to deal in, the Subscription Shares; and                       
                                                                              
    (c)     (if so required) the Bermuda Monetary Authority                   
    granting permission for the allotment and issue of                        
    the Subscription Shares.                                                  
                                                                              
    The conditions of the Capitalisation Agreements                           
    cannot be waived by the parties to the Capitalisation                     
    Agreements.                                                               
                                                                              
    Completion                                                                
    Completion will take place within 10 business days                        
    after the conditions of the Capitalisation are                            
    fulfilled, which is expected to take place on or about                    
    7 July 2005. Further announcement will be made by the                     
    Company in the event Completion does not take place                       
    by 7 July 2005.                                                           
                                                                              
    Changes of shareholding                                                   
    The changes in the shareholding structure of the                          
    Company as a result of the Capitalisation are as                          
    follows:                                                                  
                                                                              
    At the date of                                                            
    this announcement