09:44     ASIA STD HOTEL<00292> - Announcement                                

    This announcement is made at the request of The Stock Exchange of         
    Hong Kong Limited. 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.                                                        
                                                                              
            ASIA STANDARD HOTEL GROUP LIMITED                                 
            (Incorporated in Bermuda with limited liability)                  
            (Stock Code: 292)                                                 
                                                                              
    CLARIFICATION ANNOUNCEMENT AND                                            
    UNUSUAL MOVEMENTS IN SHARE PRICE AND TRADING VOLUME                       
                                                                              
                                                                              
    Clarification relating to certain press articles on 25 May 2005           
    and unusual movements in share price and trading volume                   
                                                                              
                                                                              
    CLARIFICATION OF PRESS ARTICLES                                           
    The Board of Director (the `Board') refers to certain press articles      
    in today's newspaper publications in relation to, inter alias, the        
    possible privatization of the Company, issuance of convertible bonds,     
    and revaluation of assets (`Articles'). The Board would like to           
    clarify that currently, the Company has no intention to privatize nor     
    issue of convertible bonds, and has not received any such plan or         
    proposal of this nature. At the date of this announcement, the Group      
    has not discussed or received any offer from third parties for the        
    acquisition of its hotel properties and is not aware of any proposal      
    for acquisition of the shares of the Company. Furthermore, the Group      
    is in the process of revaluing its properties according to its            
    accounting policy for the preparation of its annual report for the        
    year ended 31 March 2005.                                                 
                                                                              
    UNUSUAL PRICE AND TRADING VOLUME MOVEMENTS                                
    The Board has noted the decrease in the price and increase in             
    trading volume of the shares of the Company on 25 May 2005 and wish       
    to state that we are not aware of any reasons for such movements.         
                                                                              
    We also confirm that there are no negotiations or agreements              
    relating to intend acquisitions or realizations which are disclosable     
    under rule 13.23 of the Listing Rules, neither is the Board aware of      
    any matter discloseable under the general obligation imposed by rule      
    13.09 of the Listing Rules, which is or may be of a price sensitive       
    nature.                                                                   
                                                                              
    Made by the order of the Board of which individually and jointly          
    accept responsibility for the accuracy of this announcement.              
                                                                              
    Shareholders and investors are reminded to exercise caution in            
    dealing in the shares of the Company.                                     
                                                                              
                                                                              
    By order of the Board                                                     
    ASIA STANDARD HOTEL GROUP LIMITED                                         
    Lim Yin Cheng                                                             
    Deputy Chairman                                                           
                                                                              
    Hong Kong, 25 May 2005                                                    
                                                                              
    As at the date of this announcement, the directors of the Company         
    are Mr. Poon Jing, Mr. Lim Yin Cheng, Mr. Fung Siu To Clement, Mr.        
    Poon Tin Sau Robert, Mr. Wong Shu Pui, Mr. Liang Shangli, Mr. Ip Chi      
    Wai#, Mr. Leung Wai Keung Richard# and Mr. Hung Yat Ming#                 
                                                                              
                                                                              
    # independent non-executive directors