09:29     U-RIGHT INT'L<00627> - Announcement & Resumption (11)               

    trustee of The Leung Ngok Family Trust, a discretionary trust of which    
    the objects include Mr. Leung's family members (excluding Mr. Leung)      
                                                                              
    "Underwriting Agreement"        the underwriting agreement dated 23 May   
    2005 between the Company and ACE in relation to the Open Offer            
                                                                              
    "Underwritten Shares"        up to 893,492,750 new Shares underwritten    
    by the Underwriter                                                        
                                                                              
    "Warrants"        outstanding warrants of the Company conferring right    
    in registered form to holder to subscribe for Share(s) at an initial      
    subscription price of HK$0.20, subject to adjustment at any time from on  
    18 June 2004 until 23 June 2005 inclusive                                 
                                                                              
    "Whitewash Waiver"        the Whitewash Waiver to be applied by ACE to    
    the Executive for waiving the obligation of ACE and its concert parties   
    to extend a general offer to acquire the issued Shares (excluding the     
    issued Shares which are owned by ACE and its concert parties) under Rule  
    26 of the Takeovers Code arising from the Open Offer                      
                                                                              
    "HK$"        Hong Kong dollars, the lawful currency of Hong Kong          
                                                                              
    "%"        per cent.                                                      
                                                                              
    By order of the Board                                                     
    Leung Ngok                                                                
    Chairman                                                                  
                                                                              
    Hong Kong, 23 May 2005                                                    
                                                                              
    As at the date of this announcement, Mr. Leung Ngok, Mr. Leung Shing and  
    Mr. Lee Ka Yiu, Andy are the executive Directors and Mr. Wong Kong Hon,   
    Mr. Jia Luqiao and Mr. Wong Kai Cheong are the independent non-executive  
    Directors.                                                                
                                                                              
    As at the date of this announcement, the board of ACE comprises Mr.       
    Leung Ngok and Ms. Yim Yuk Lam, spouse of Mr. Leung Ngok.                 
                                                                              
    The directors of ACE accepts full responsibility for the accuracy of the  
    information contained in this announcement, other than that relating to   
    the Group, and confirms, having made all reasonable enquiries, that to    
    the best of their knowledge, opinions expressed in this announcement,     
    other than those relating to the Group, have been arrived at after due    
    and careful consideration and there are no other facts not contained in   
    this announcement the omission of which would make any statements in      
    this announcement misleading.                                             
                                                                              
    The Directors jointly and severally accept full responsibility for the    
    accuracy of the information contained in this announcement, other than    
    that relating to ACE, and confirm, having made all reasonable inquiries,  
    that to the best of their knowledge, opinions expressed in this           
    announcement, other than that relating to ACE, have been arrived at       
    after due and careful consideration and there are no other facts not      
    contained in this announcement, the omission of which would make any      
    statements in this announcement misleading.