08:37     B.A.L. HOLD<08079> & <08400> - Odd Lot Arrangement                  

    The Stock Exchange has received a message from B.A.L. Holdings Limited    
    which is reproduced as follows:                                           
                                                                              
    "ODD LOTS MATCHING SERVICES                                               
                                                                              
    In order to facilitate the trading of odd lots of the Consolidated Shares 
    arising from the Share Consolidation, the Company has appointed Kingston  
    Securities Limited to stand in the market to provide matching services on 
    a best effort basis for the odd lots of the Consolidated Shares during the
    period from 18th May, 2005 to 8th June, 2005, both dates inclusive.       
    Holders of odd lots of the Consolidated Shares who wish to take advantage 
    of this matching facility may contact Ms. Rosita Kiu of Kingston          
    Securities Limited at Suite 2801, 28th Floor, One International Finance   
    Centre, 1 Harbour View Street, Central, Hong Kong (telephone number:      
    2298-6215) during the aforesaid period.                                   
                                                                              
    Shareholders should note that successful matching of the sale and purchase
    of odd lots of the Consolidated Shares is not guaranteed and will depend  
    on there being adequate amounts of odd lots of the Consolidated Shares    
    available for such matching.                                              
                                                                              
    Shareholders are recommended to consult their licensed securities dealer, 
    bank manager, solicitor, professional accountant or other professional    
    adviser if they are not sure about the matching service described above."