09:24     E2-CAPITAL<00378> - Announcement (1)                                

    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.               
                                                                              
    E2-CAPITAL (HOLDINGS) LIMITED                                             
    *                                                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock code: 378)                                                         
                                                                              
    DISCLOSEABLE TRANSACTION -                                                
    DISPOSAL OF PROPERTY                                                      
                                                                              
                                                                              
    On 18 May 2005, Lucky Happy Development Limited, an indirect              
    wholly-owned subsidiary of the Company, entered into a provisional        
    sale and purchase agreement with an independent third party to            
    dispose of an industrial building at Nos. 12-16 Fui Yiu Kok Street,       
    Tsuen Wan, New Territories, Hong Kong at the consideration of             
    HK$48,500,000.                                                            
                                                                              
    The disposal constitutes a discloseable transaction of the Company        
    under the Rules Governing the Listing of Securities on The Stock          
    Exchange of Hong Kong Limited. A circular containing details of the       
    disposal will be sent to the shareholders as soon as                      
    practicable.                                                              
                                                                              
                                                                              
    THE PROVISIONAL SALE AND PURCHASE AGREEMENT                               
                 Date:        18 May 2005               Parties:              
    (i)          Vendor:      Lucky Happy                                     
                              Development                                     
                              Limited, an                                     
                              indirect                                        
                              wholly-owned                                    
                               subsidiary                                     
                              of                                              
                              E2-Capital                                      
                              (Holdings)                                      
                              Limited                                         
                              (the                                            
                              `Company',                                      
                              and                                             
                              together                                        
                              with its                                        
                              subsidiaries                                    
                              , the                                           
                              `Group');                                       
                              and                                             
    (ii)         Purchaser:   a company                                       
                              who is, and                                     
                              whose                                           
                              ultimate                                        
                              beneficial                                      
                              owners are,                                     
                              to the best                                     
                              of the                                          
                              directors'                                      
                              knowledge,                                      
                              information                                     
                              and belief                                      
                              having made                                     
                              all                                             
                              reasonable                                      
                              enquiry, a                                      
                              third party                                     
                              independent                                     
                              of and not                                      
                              connected                                       
                              with the                                        
                              Company or                                      
                              any of the                                      
                              directors,                                      
                              chief                                           
                              executive                                       
                              or                                              
                              substantial                                     
                              shareholders                                    
                               of the                                         
                              Company or                                      
                              any of its                                      
                              subsidiaries                                    
                               or any of                                      
                              their                                           
                              respective                                      
                              associates                                      
                              (as defined                                     
                              in the                                          
                              Rules                                           
                              Governing                                       
                              the Listing                                     
                              of