09:22     CHINAINFO<08206> - Announcement                                     

                                                                              
    The Stock Exchange of Hong Kong Limited takes no                          
    responsibility for the contents of this announcement,                     
    makes no representations 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                                                      
                                                                              
    CHINAINFO HOLDINGS LIMITED                                                
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 8206)                                                        
                                                                              
    COMPLETION OF THE PLACING OF CONVERTIBLE BONDS, THE                       
    PLACING OF EXISTING SHARES AND THE SUBSCRIPTION FOR                       
    NEW SHARES                                                                
                                                                              
    Completion of the Placing took place on 17 May 2005                       
    and a total of 26,300,000 Placing Shares were                             
    successfully placed by the Placing Agent to a total                       
    of six Placees.                                                           
                                                                              
    Completion of the CB Placing and the Subscription took                    
    place on 23 May 2005. The Convertible Bonds of a                          
    principal amount of HK$5,000,000 in aggregate were                        
    successfully placed by the Placing Agent to the CB                        
    Placee, while Superhero Limited subscribed for a                          
    total of 26,300,000 Subscription Shares pursuant to                       
    the Subscription Agreement.                                               
                                                                              
    Immediately after completion of the Placing, the CB                       
    Placing and the Subscription, Ms. Chan was interested                     
    in approximately 25.07% of the issued share capital                       
    of the Company.                                                           
                                                                              
    Trading in the Shares on GEM was suspended with effect                    
    from 9:30 a.m. on Friday, 20 May 2005 at the request                      
    of the Company, and trading in the Shares on GEM will                     
    remain suspended until the release of further                             
    announcement of the Company in relation to its price                      
    sensitive information.                                                    
                                                                              
    By Order of the Board                                                     
    CHINAINFO HOLDINGS LIMITED                                                
    Chan Tan Lui, Danielle                                                    
    Chairman                                                                  
                                                                              
    As at the date of this announcement, the Board                            
    comprises of:                                                             
                                                                              
    Ms. Chan Tan Lui, Danielle (Executive Director and                        
    Chairman)                                                                 
    Mr. Choo Kwok How (Executive Director)                                    
    Ms. Guo Qi (Independent non-executive Director)                           
    Mr. Yip Tai Him (Independent non-executive Director)                      
    Mr. Chiu Kwok Ching (Independent non-executive                            
    Director)                                                                 
                                                                              
    Hong Kong, 23 May 2005                                                    
                                                                              
    This announcement, for which the Directors                                
    collectively and individually accept full                                 
    responsibility, includes particulars given in                             
    compliance with the GEM Listing Rules for giving                          
    information with regard to the Company. The Directors,                    
    having made all reasonable enquiries, confirm that,                       
    to the best of their knowledge and belief: (1) the                        
    information contained in this announcement is                             
    accurate and complete in all material respects and                        
    not misleading; (2) there are no other matters the                        
    omission of which would make                                              
    any statement in this announcement misleading; and                        
    (3) all opinion expressed in this announcement have                       
    been arrived at after due and careful consideration                       
    and are founded on bases and assumptions that are fair                    
    and reasonable.                                                           
                                                                              
    The above announcement is a summary only. For the full                    
    version of this announcement, please refer to the                         
    'Latest Company Announcements' page on the GEM                            
    website at www.hkgem.com.