09:28     U-RIGHT INT'L<00627> - Announcement & Resumption (8)                

    There has not been any rights issue or open offer of Shares in the last   
    24 months immediately before the date of this announcement. The           
    following table summaries the capital raising activities of the Group     
    for the 12 months immediately before the date of this announcement:       
                                                                              
                                     Actual use of                            
                                    proceeds as at                            
    Date of                Net proceeds        Intended use of        the     
    date of                                                                   
    announcement        Event        (approximately)        proceeds          
    this announcement                                                         
                                                                              
    20 May 2004        Private placing of        HK$24.2 million              
    General working        General working                                    
            259,000,000 warrants                capital        capital        
            in registered form                                                
            to subscribe for shares                                           
            in the capital of the                                             
            Company at an issue                                               
            price of HK$0.097                                                 
            per warrants and at the                                           
            subscription price of                                             
            HK$0.20 per share                                                 
                                                                              
    EXPECTED TIMETABLE                                                        
                                                                              
    Despatch of the circular to the Shareholders relating                     
      to the Whitewash Waiver and Open Offer, containing,                     
      among things, a notice convening the SGM        Friday, 10 June 2005    
                                                                              
    Last day of dealings in Shares on cum-entitlement basis        Tuesday,   
    21 June 2005                                                              
                                                                              
    First day of dealings in Shares on ex-entitlement basis                   
    Wednesday, 22 June 2005                                                   
                                                                              
    Latest time for lodging transfers of Shares in order to be                
      entitled to the Open Offer        4:00 p.m. on Thursday, 23 June 2005   
                                                                              
    Latest time for the holders of the Warrants to exercise                   
      their respective Warrants and to be entitled to the                     
      Open Offer        4:00 p.m. on Thursday, 23 June 2005                   
                                                                              
    Register of members closes (both dates inclusive)        Friday, 24 June  
    2005                                                                      
            to Tuesday, 28 June 2005                                          
                                                                              
    Latest time for lodging forms of proxy for the purpose                    
      of the SGM (not less than 48 hours                                      
      before the SGM)        10:00 a.m. on Sunday, 26 June 2005               
                                                                              
    SGM to be held        10:00 a.m. on Tuesday, 28 June 2005                 
                                                                              
    Record Date        Tuesday, 28 June 2005                                  
                                                                              
    Expected date on which the increase in authorised                         
      share capital become effective        Tuesday, 28 June 2005             
                                                                              
    Register of members reopens        Wednesday, 29 June 2005                
                                                                              
    Announcement of results of SGM        Wednesday, 29 June 2005             
                                                                              
    Despatch of the Prospectus Documents        Thursday, 30 June 2005        
                                                                              
    Latest time for lodging application for the Offer Shares                  
      and payment        4:00 p.m. on Friday, 15 July 2005                    
                                                                              
    Expected time for the Open Offer to become                                
      unconditional        6:00 p.m. on Tuesday, 19 July 2005                 
                                                                              
    Announcement of results of the Open Offer        Thursday, 21 July 2005   
                                                                              
    Despatch of certificates for the Offer Shares        Thursday, 21 July    
    2005                                                                      
                                                                              
    Dealings in Offer Shares commence        Monday, 25 July 2005             
                                                                              
    Dates stated in this announcement for events mentioned in the timetable   
    are indicative only and may be extended or varied. Any change to the      
    expected timetable for the Open Offer will be announced as appropriate.   
                                                                              
    WHITEWASH WAIVER                                                          
                                                                              
    Assuming ACE has taken up its maximum obligation of 893,492,750 Offer