09:35     SNP LEEFUNG<00623> - Announcement (10)                              

    "PRC"  the People's Republic of China                                     
                                                                              
    "Prospectus"  the prospectus to be issued by the Company in relation to   
    the Rights Issue                                                          
                                                                              
    "Qualifying Shareholder(s)"  Shareholder(s) whose name(s) appear on the   
    register of members of the Company as at the close of business on the     
    Record Date, other than those Excluded Shareholders                       
                                                                              
    "Record Date"  Wednesday, 22 June 2005, the record date to determine      
    entitlements to the Rights Issue                                          
                                                                              
    "Rights Issue"  the issue of not less than 100,681,729 Rights Shares      
    and not more than 100,767,979 Rights Shares at the Subscription Price     
    on the basis of one Rights Share for every four existing Shares held on   
    the Record Date                                                           
                                                                              
    "Rights Issue Documents"  the Prospectus, the PALs and the EAFs           
                                                                              
    "Rights Share(s)"  new Share(s) to be allotted and issued in respect of   
    the Rights Issue                                                          
                                                                              
    "Settlement Date"  Thursday, 14 July 2005, the date being the fourth      
    business day following Friday, 8 July 2005 being the latest time for      
    acceptance of, and payment for, Rights Shares (or such other time or      
    date as the Underwriter and the Company may agree in writing              
                                                                              
    "Share(s)"  ordinary share(s) of HK$0.10 each in the issued capital of    
    the Company                                                               
                                                                              
    "Share Options"  options granted by the Company under the Share Option    
    Scheme                                                                    
                                                                              
    "Share Option Scheme"  the share option scheme adopted by the Company     
    on 28 August 2003                                                         
                                                                              
    "Shareholder(s)"  holder(s) of the Shares                                 
                                                                              
    "SNP"  SNP Corporation Ltd, a company incorporated in Singapore with      
    limited liability, the shares of which are listed on The Singapore        
    Exchange Securities Trading Ltd                                           
                                                                              
    "SNP's Entitlement"  70,585,997 Rights Shares which will be               
    provisionally allotted to SNP pursuant to the Rights Issue                
                                                                              
    "Special General Meeting"  special general meeting of the Company to be   
    convened on a date to be determined by the Board (currently expected to   
    be at or around 10:00a.m. on Wednesday, 22 June 2005 to approve the       
    Capital Reorganisation                                                    
                                                                              
    "Stock Exchange"  The Stock Exchange of Hong Kong Limited                 
                                                                              
    "Subscription Price"  the subscription price of HK$1.20 per Rights Share  
                                                                              
    "Underwriter"  Tai Fook Securities Company Limited, a licensed            
    corporation to carry on regulated activities 1, 3 and 4 for the purpose   
    of the Securities and Futures Ordinance (Chapter 571 of the Laws of       
    Hong Kong)                                                                
                                                                              
    "Underwriting Agreement"  the underwriting agreement dated 25 May 2005    
    entered into between the Company and the Underwriter in relation to the   
    Rights Issue                                                              
                                                                              
    "Underwritten Shares"  all the Rights Shares, other than the SNP's        
    Entitlement, being not less than 30,095,732 Rights Shares and not more    
    than 30,181,982 Rights Shares                                             
                                                                              
    "HK$"  Hong Kong dollars, the lawful currency of Hong Kong                
                                                                              
    "%"  per cent.                                                            
                                                                              
    By Order of the Board                                                     
    SNP Leefung Holdings Limited                                              
    Yeo Chee Tong                                                             
    Executive Director and Chief Executive Officer                            
                                                                              
    Hong Kong, 25 May 2005                                                    
                                                                              
    As at the date hereof, the Board comprises seven directors, of which      
    Mr. Yeo Chee Tong and Mr. Peter, Yang Sze Chen are executive Directors,   
    Mr. Tay Siew Choon is a non-executive Director and Mr. Cheng Wai Wing,    
    Edmund, Mr. John Robert Walter, Mr. Lai Ming, Joseph and Ms. Kan Lai      
    Kuen, Alice are independent non-executive Directors.