09:25     U-RIGHT INT'L<00627> - Announcement & Resumption (1)                

    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.                   
                                                                              
    U-RIGHT INTERNATIONAL HOLDINGS LIMITED                                    
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 627)                                                         
    (Warrant Code: 2367)                                                      
                                                                              
    (1) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL;                        
    (2) PROPOSED OPEN OFFER OF NEW SHARES ON THE BASIS OF                     
    ONE OFFER SHARE FOR EVERY TWO SHARES HELD ON RECORD DATE;                 
    (3) APPLICATION FOR THE GRANTING OF                                       
    THE WHITEWASH WAIVER;                                                     
    AND                                                                       
    (4) RESUMPTION OF TRADING                                                 
                                                                              
    Underwriter                                                               
    ACE Target Inc.                                                           
                                                                              
    (1)        PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL                  
                                                                              
    The Company proposes to increase its authorised share capital from        
    HK$200,000,000 divided into 2,000,000,000 shares of HK$0.10 each to       
    HK$500,000,000 divided into 5,000,000,000 shares of HK$0.10 each by the   
    creation of an additional 3,000,000,000 unissued shares of HK$0.10 each.  
                                                                              
    (2)        PROPOSED OPEN OFFER                                            
                                                                              
    The Company proposes to raise not less than approximately HK$222          
    million, before expenses, by issuing not less than 888,662,750 Offer      
    Shares and not more than 893,492,750 Offer Shares at a price of HK$0.25   
    per Offer Share by way of the Open Offer, payable in full on              
    application, on the basis of one Offer Share for every two Shares held    
    on the Record Date.                                                       
                                                                              
    The Open Offer will not be available to the Excluded Shareholders. To     
    qualify for the Open Offer, all transfers of Shares must be lodged for    
    registration with the Registrar by 4:00 p.m. on Thursday, 23 June 2005.   
                                                                              
    ACE and its concert parties, including Mr. Leung, in aggregate are        
    interested in 639,089,000 Shares as at the date of this announcement.     
    ACE has agreed to underwrite up to 893,492,750 Offer Shares pursuant to   
    the Underwriting Agreement. Assuming ACE has taken up its maximum         
    obligation of 893,492,750 Offer Shares pursuant to the Underwriting       
    Agreement, ACE and its concert parties will increase their aggregate      
    shareholding interest from approximately 35.96% of the existing issued    
    share capital of the Company to approximately 57.18% of the issued share  
    capital of the Company as enlarged by the issue of Offer Shares           
    (assuming all the outstanding Warrants have been exercised before the     
    Record Date and the completion of the Open Offer).                        
                                                                              
    The estimated net proceeds from the Open Offer will be approximately      
    HK$217 million, of which as to approximately HK$167 million and HK$50     
    million are to be used to fund the expansion of the Group's retail        
    network in Hong Kong and PRC respectively.                                
                                                                              
    The Open Offer is conditional. In particular, it is subject to the        
    Underwriter not terminating the Underwriting Agreement (see "Termination  
    of the Underwriting Agreement" below). Accordingly, the Open Offer may    
    or may not proceed.                                                       
                                                                              
    (3) WHITEWASH WAIVER                                                      
                                                                              
    Assuming ACE has taken up its maximum obligation of 893,492,750 Offer     
    Shares pursuant to the Underwriting Agreement, ACE and its concert        
    parties will increase their aggregate shareholding from approximately     
    35.96% of the existing issued share capital of the Company to             
    approximately 57.18% of the issued share capital of the Company as        
    enlarged by the issue of Offer Shares (assuming all the outstanding       
    Warrants have been exercised before the Record Date and the completion    
    of the Open Offer). Under Rule 26 of the Takeovers Code, ACE and its      
    concert parties, including Mr. Leung, will be required to make an         
    unconditional mandatory general offer for all the issued Shares not       
    already owned or agreed to be acquired by ACE or Mr. Leung or their       
    concert parties. An application will be made by ACE to the Executive for  
    the Whitewash Waiver, which, if granted, would be subject to the          
    approval of the Independent Shareholders on a vote taken by way of a      
    poll. If the Whitewash Waiver is granted and approved by the Independent  
    Shareholders, the obligation of ACE and its concert parties, including    
    Mr. Leung, to make an unconditional mandatory offer under Rule 26 of the  
    Takeovers Code, will be waived. The Executive may or may not grant the    
    Whitewash Waiver. Completion of Open Offer is conditional upon, among