10:04     <00996>&<01049>-Joint Announcement&Resumption of Trading(6)         

    to the date of this announcement.                                         
                                                                              
    Save for the aforesaid, the Company had no fund raising activity in the   
    past 12 months.                                                           
                                                                              
    POSSIBLE VERY SUBSTANTIAL DISPOSAL BY CASH                                
                                                                              
    The principal activities of CASH, the holding company of the Company,     
    and its subsidiaries consist of (i) financial services provided via CASH  
    Financial Services Group Limited and its subsidiaries including online    
    and traditional brokerage of securities, options, futures, and leveraged  
    foreign exchange contracts as well as mutual funds and insurance-linked   
    investment products, margin financing, corporate finance and other        
    financial services; (ii) retailing of furniture and household items via   
    the Company; (iii) investment holding including property investment; and  
    (v) brand management.                                                     
                                                                              
    Based on the existing shareholding structure of the Company, should the   
    conversion right attached to the Convertible Note be exercised in full,   
    the resultant allotment and issue of the Conversion Shares by the         
    Company will be regarded as a deemed disposal by CASH of shareholding     
    interest in the Company and constitutes a possible very substantial       
    disposal for CASH under the Listing Rules, which is subject to approval   
    by CASH Shareholders, and the Company will cease to be a subsidiary of    
    CASH. AustChina, the subscriber of the Convertible Note, is independent   
    of CASH and its connected persons (as defined under the Listing Rules).   
    If the Convertible Note is converted into Conversion Shares in full,      
    CASH will record a profit of about HK$17,507,000.                         
                                                                              
    Having taken into account that the share price of the Company has         
    increased substantially recently, although the Conversion Price           
    represents discounts to the recent closing prices, on the basis that the  
    Conversion Price also represents (i) respective discount of about 2.2%    
    and premium of about 12.5% to the average closing prices of about         
    HK$0.46 per Share and HK$0.40 per Share based on the closing prices as    
    quoted on the Stock Exchange for the 3 months and 6 months ended on 20    
    May 2005, and (ii) a premium of about 80% to the adjusted unaudited net   
    asset value per Share of HK$0.25 per Share as at 20 May 2005, the         
    directors of CASH are of the opinion that the Conversion Price is fair    
    and reasonable and in the interests of CASH and the CASH Shareholders as  
    a whole.                                                                  
                                                                              
    GENERAL                                                                   
                                                                              
    Applications will be made by the Company to the Listing Committee of the  
    Stock Exchange for the listing of and permission to deal in the           
    Conversion Shares.                                                        
                                                                              
    A circular containing, among other things, the details of the CN          
    Agreement and the notice of the SGM will be despatched to the             
    Shareholders as soon as practicable. In the SGM, resolutions will be      
    proposed to consider, and if thought fit, to approve (i) the CN           
    Agreement; and (ii) the increase of the authorised share capital of the   
    Company from 1,500,000,000 Shares to 3,000,000,000 Shares.                
                                                                              
    A circular containing, among other things, details of the CN Agreement    
    and the notice of the CASH SGM will be despatched to CASH Shareholders    
    as soon as practicable. In the CASH SGM, resolution will be proposed to   
    consider, and if thought fit, to approve the possible deemed disposal of  
    the shareholding interest in the Company by CASH as a result of           
    allotment and issue of the Conversion Shares by the Company upon          
    conversion of any part of the Convertible Note into Conversion Shares.    
                                                                              
    Trading in the Shares on the Stock Exchange was suspended from 9:30 am    
    on 23 May 2005. The Company has applied to the Stock Exchange for         
    resumption of trading in the Shares from 9:30 am on 26 May 2005.          
                                                                              
    Trading in the shares in CASH on the Stock Exchange was suspended from    
    9:30 am on 24 May 2005. CASH has applied to the Stock Exchange for        
    resumption of trading in its shares from 9:30 am on 26 May 2005.          
                                                                              
    DEFINITIONS                                                               
                                                                              
    "Associates"   has the same meaning ascribed in the Listing Rules         
                                                                              
    "AustChina"   AustChina Information Technology Pyt Limited, a             
    corporation incorporated in Australia and an independent third party,     
    which is not a connected person of the Company as defined under the       
    Listing Rules, and the Group did not have any past business relationship  
    or dealing with the AustChina                                             
                                                                              
    "Board"   the board of the Directors                                      
                                                                              
    "CASH"   Celestial Asia Securities Holdings Limited, the holding company  
    of the Company, a company incorporated in Bermuda with limited