09:20     MAE HOLDINGS<02976> - Announcement (2)                              

                                                                              
    GENERAL                                                                   
    As at the date of this announcement, the Board                            
    comprises six Directors, of whom (i) three are                            
    executive Directors, namely Mr. Lo Wai Shing, Felix                       
    who is also the Chairman and Managing Director of the                     
    Company, Mr. Lau Kevin and Ms. Leung Wai Kuen, Cerene;                    
    and (ii) three are independent non-executive                              
    Directors, namely Mr. Chu Chin Fan, Mr. Yeong Yun Hong,                   
    Gary and Ms. Yan Po Kwan.                                                 
                                                                              
    By Order of the Board                                                     
    MAE Holdings Limited                                                      
    Lo Wai Shing, Felix                                                       
    Chairman                                                                  
                                                                              
    Hong Kong, 26th May, 2005                                                 
                                                                              
    The Directors jointly and severally accept full                           
    responsibility for the accuracy of the information                        
    contained in this announcement and confirm, having                        
    made all reasonable inquiries, that to the best of                        
    their knowledge, the opinions expressed in this                           
    announcement have been arrived at after due and                           
    careful consideration and there are no other facts not                    
    contained in this announcement, the omission of which                     
    would make any statement in this announcement                             
    misleading.