09:31     UNITY INV HOLD<00913>-Announcement&Resumption of Trading(4)         

    Completion of the CN Placing Agreement                                    
                                                                              
    Completion of the CN Placing Agreement shall take place on or before      
    the third business day following the date on which the condition          
    thereto are fulfilled (or such other date as the Company and the          
    Placing Agent shall agree).                                               
                                                                              
    The Convertible Notes                                                     
                                                                              
    The terms of the Convertible Notes have been negotiated on arm's length   
    basis and the principal terms of which are summarized below:              
                                                                              
    Principal amount                                                          
                                                                              
    An aggregate of HK$20 million.                                            
                                                                              
    Interest                                                                  
                                                                              
    At the rate of 5% per annum on the outstanding principal amount, which    
    is determined after arm's length negotiation between the Company and      
    the Placing Agent, with reference to, among other things, the prime       
    rate and the interest rates of convertible notes issued by other listed   
    companies.                                                                
                                                                              
    Maturity                                                                  
                                                                              
    60 months from the date of the issue of the Convertible Notes on the      
    date of completion of the CN Agreement                                    
                                                                              
    Denomination                                                              
                                                                              
    In multiple of HK$100,000                                                 
                                                                              
    Conversion Price                                                          
                                                                              
    HK$0.05 per Share which is subject to adjustment for the dilutive         
    events including, amongst other matters, sub-division or consolidation    
    of Shares, bonus issues and rights issues.                                
                                                                              
    The Conversion Price of HK$0.05 represents (i) a premium of about         
    19.05% to the closing price of HK$0.042 per Share as quoted on the        
    Stock Exchange on the Last Trading Date; (ii) a discount of about 0.79%   
    over the average closing price per Share of about HK$0.0504 as quoted     
    on the Stock Exchange for the last five trading days up to and            
    including the Last Trading Date; and (iii) a discount of about 82.76%     
    when compared with the net assets value per Share of HK$0.29 as at 30     
    April 2005.                                                               
                                                                              
    Conversion                                                                
                                                                              
    Each holder may convert the whole or part of the principal amount of      
    the relevant Convertible Note (in multiple of HK$100,000) into new        
    Shares as determined by dividing the principal amount of the relevant     
    Convertible Note outstanding at the time of conversion by the             
    conversion price.                                                         
                                                                              
    Assuming there is an immediate exercise in full of the conversion         
    rights attaching to the convertible Notes at the conversion price of      
    HK$0.05 by all holders of the Convertible Notes, the Company will issue   
    an aggregate of 400,000,000 new Shares, representing approximately        
    90.93% of the existing issued share capital of the Company, and           
    approximately 47.62% of the enlarged issued share capital of the          
    Company by the Share Placing Shares and the Conversion Shares. The        
    Conversion Shares will be issued pursuant to the passing of the           
    relevant resolution at the EGM.                                           
                                                                              
    The market value of the total Conversion Shares will be in aggregate of   
    HK$16.8 million based on the closing price of HK$0.042 per Share on the   
    Last Trading Date.                                                        
                                                                              
    Conversion period                                                         
                                                                              
    Each of the holders of the Convertible Notes shall have the right at      
    any time after the date of issue of the relevant Convertible Note up to   
    and including any business day prior to 5 business days prior to the      
    Maturity Date to convert all or part of the principal amount of the       
    relevant Convertible Note outstanding at any time into new Shares at      
    the conversion price of HK$0.05 per Share provided that an integral       
    multiple of HK$100,000 be converted at any time and save that if the      
    outstanding principal amount of the relevant Convertible Notes is less    
    than HK$100,000, the whole (but not part only) of the outstanding         
    principal amount of the relevant Convertible Note must be converted.      
    There is no lock-up period for the Conversion Shares.