09:32     MAGNUM INT'L<00305> - Announcement (2)                              

    (b)   upon S&P Completion, Unichina and parties acting in concert         
    with it will own in aggregate approximately 51.54% of the issued          
    share capital of the Company as at the Latest Practicable Date;           
    and                                                                       
                                                                              
    (c)   based on the valuation report prepared by Vigers (which is          
    set out in Appendix I to the Circular), the aggregate value of the        
    Properties appreciated from HK$33,290,000 as at 31 December 2004          
    to HK$34,700,000 as at 15 April 2005.                                     
                                                                              
    GENERAL                                                                   
                                                                              
    Shareholders are advised to read the Circular, in particular the          
    letter from the Independent Board Committee and the letter of             
    advice from Tai Fook, the independent financial adviser to the            
    Independent Board Committee, before taking any action at the SGM.         
                                                                              
    As at the date of this announcement, the Board comprises four             
    executive Directors, including Messrs. Lim Teong Leong, Tam Cheok         
    Wing, Ooi Sin Heng and Chan Hon Ming, and three independent               
    non-executive Directors, including Messrs. Wong Ming Shiang, Lim          
    Eng Ho and Soo Tho Him Yip.                                               
                                                                              
    By order of the Board of                                                  
    Magnum International Holdings Limited                                     
    Ooi Sin Heng                                                              
    Executive Director                                                        
                                                                              
    Hong Kong, 19 May 2005                                                    
                                                                              
    The Directors jointly and severally accept full responsibility for        
    the accuracy of the information contained in this announcement and        
    confirm, having made all reasonable enquiries, that to the best           
    of their knowledge, opinions expressed in this announcement have          
    been arrived at after due and careful consideration and there are         
    no other facts not contained in this announcement the omission of         
    which would make any statement in this announcement misleading.