09:18     GOLDEN RESORTS<01031> - Announcement (2)                            

    China Energy will become the 100% beneficial owner                        
    of Starway.                                                               
                                                                              
    The Company has requested but Starway has not yet                         
    returned to the Company the share certificate in the                      
    name of Win Matching in relation to the 35% interest                      
    in Starway held by it for custody and the Company has                     
    requested but has not been provided with a certified                      
    copy of the shareholders register of Starway from the                     
    registered agent of Starway. Further announcements                        
    and supplemental circular in respect of the Further                       
    Material Information will be made as and when                             
    appropriate in accordance with the Listing Rules.                         
                                                                              
    As at the date of this announcement, the executive                        
    Directors are Mr. Cheung Yu Shum, Jenkin, Mrs. Chu                        
    Yuet Wah, Mr. Chu Yuk Kuen and Mr. Wong Hin Shek, Hans,                   
    the non-executive Director is Mr. Lee Wai Man and the                     
    independent non-executive Directors are Mr. Chan Chi                      
    Yuen, Mr. Shum Ka Hei and Mr. Wong King Shiu, Daniel.                     
                                                                              
    By Order of the Board                                                     
    Golden Resorts Group Limited                                              
    Mr. Cheung Yu Shum, Jenkin                                                
    Chairman                                                                  
                                                                              
    Hong Kong, 25 May, 2005                                                   
                                                                              
    *  for identification purpose only