09:33     ZHONG HUA INT'L<01064> - Announcement                               

    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.                   
                                                                              
    ZHONG HUA INTERNATIONAL HOLDINGS LIMITED                                  
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1064)                                                        
                                                                              
    ANNOUNCEMENT ON EXCEPTIONAL PRICE MOVEMENT AND TRADING VOLUME             
                                                                              
    The Directors have noted the increases in trading price and volume of     
    the shares of the Company today and wish to state, the Company is in      
    preliminary discussion with independent third party to ascertain if any   
    suitable opportunities exist for any possible acquisition of a casino     
    cruise ship. Except for such discussion and the announcement of the       
    Company dated 18th May 2005 in relation to placing of new shares under    
    general mandate, the Directors are not aware of any reasons for such      
    increases.                                                                
                                                                              
    Shareholders and potential investors are advised to exercise caution      
    when dealing in shares of the Company.                                    
                                                                              
    This announcement is made at the request of The Stock Exchange of Hong    
    Kong Limited (the "Stock Exchange").                                      
                                                                              
    The board of directors (the "Directors") of Zhong Hua International       
    Holdings Limited (the "Company") have noted the increases in the          
    trading price and volume of the shares of the Company today and wish to   
    state that, the Company is in preliminary discussion with independent     
    third party to ascertain if any suitable opportunities exist for any      
    possible acquisition of a casino cruise ship. Except for such             
    discussion and the announcement of the Company dated 18th May 2005 in     
    relation to placing of new shares under general mandate, the Directors    
    are not aware of any reasons for such increases.                          
                                                                              
    The Directors also confirm that save as disclosed above, there are no     
    negotiations or agreements relating to intended acquisitions or           
    realizations which are discloseable under Rule 13.23 of the Rules         
    Governing the Listing of Securities on the Stock Exchange (the "Listing   
    Rules"), neither are the Directors aware of any matter discloseable       
    under the general obligation imposed by Rule 13.09 of the Listing         
    Rules, which is or may be of a price-sensitive nature.                    
                                                                              
    Shareholders and potential investors are advised to exercise caution      
    when dealing in shares of the Company.                                    
                                                                              
    This announcement is made by order of the board of Directors of which     
    the Directors individually and jointly accept responsibility for the      
    accuracy of this announcement.                                            
                                                                              
    By order of the Board                                                     
    Zhong Hua International Holdings Limited                                  
    Ho Tsam Hung                                                              
    Chairman                                                                  
                                                                              
    Hong Kong, 20 May 2005                                                    
                                                                              
    As at the date of this announcement, the Board comprises (i) Mr. Ho       
    Tsam Hung, Mr. Ho Kam Hung and Mr. Yang Jia Jian as executive             
    Directors; (ii) Ms. Yeung Mo Sheung, Ann as non-executive Director; and   
    (iii) Mr. Ng Kin Sun, Mr. Wong Ting Kon and Mr. Young Kwok Sui as         
    independent non-executive Directors.                                      
                                                                              
    *  For identification purpose only