09:19     AV CONCEPT HOLD<00595> - Announcement (4)                           

                                                                              
    "Portfolio"   all investments and moneys from time to                     
    time deposited by or on behalf of New Concept in the                      
    Portfolio Account and Authorised Investments acquired                     
    for the Portfolio Account by UBS (including moneys                        
    arising and interest accruing therefrom) pursuant to                      
    the DM Agreement                                                          
                                                                              
    "Portfolio Account"   the account or accounts of New                      
    Concept opened pursuant to the DM Agreement                               
                                                                              
    "Share(s)"   share(s) of HK$0.10 each in the share                        
    capital of the Company                                                    
                                                                              
    "Shareholder(s)"   holder(s) of the Share(s)                              
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong                        
    Limited                                                                   
                                                                              
    "UBS"   UBS AG Hong Kong Branch, a registered                             
    institution under the Securities and Futures                              
    Ordinance for the purposes of carrying on regulated                       
    activities including dealing in securities (Type 1),                      
    advising on securities (Type 4), advising on corporate                    
    finance (Type 6) and asset management (Type 9)                            
                                                                              
    "US$"   United State dollars, the lawful currency of                      
    the United States of America                                              
                                                                              
    "%"   per cent.                                                           
                                                                              
    The translation of HK$ and US$ used in this                               
    announcement is made at the exchange rate of US$1 =                       
    HK$7.8 and is for illustration purposes only.                             
                                                                              
    By Order of the Board                                                     
    AV Concept Holdings Limited                                               
    Lai Yat Hung, Edmund                                                      
    Director                                                                  
                                                                              
    Hong Kong, 20 May 2005                                                    
                                                                              
    As at the date of this announcement, the Board                            
    comprises four executive directors, Mr. So Yuk Kwan                       
    (Chairman), Mr. Lee Jeong Kwan, Mr. So Chi On and Mr.                     
    Lai Yat Hung, Edmund, and three independent                               
    non-executive directors, DR. Hon. Lui Ming Wah, JP,                       
    Mr. Charles E. Chapman and Mr. Wong Ka Kit.