09:24     RICHE M-MEDIA<00764> - Announcement                                 

    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.                   
                                                                              
                                                                              
    RICHE MULTI-MEDIA HOLDINGS LIMITED                                        
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 764)                                                         
                                                                              
    Major Transaction Involving                                               
    Issue Of Convertible Note                                                 
    And Grant Of Bk Share Option                                              
                                                                              
    Further Delay In Despatch Of The Circular                                 
                                                                              
                                                                              
    An application has been made to the Stock Exchange by the Company for a   
    further extension of time for despatch of the Circular to on or before    
    17th June, 2005.                                                          
                                                                              
    Reference is made to the announcements of Riche Multi-Media Holdings      
    Limited (the "Company") dated 15th April, 2005 and 6th May, 2005 (the     
    "Announcements") in relation to, among other things, the proposed         
    acquisition of a 100% equity interest in Best Winning by Dragon Leader    
    and the entering into of a Sub-Marketing Agreement by Best Winning        
    whereby Best Winning is being appointed as the sole and exclusive         
    service provider for the provision of Rolling and Settlement Services     
    for customers of the Casino (the "Transactions"). Terms used herein       
    shall have the same meanings as defined in the Announcements unless       
    defined otherwise.                                                        
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, the Company is required to   
    despatch a circular in relation to the Transactions (the "Circular") to   
    its Shareholders within 21 days after publication of the announcement     
    dated 15th April, 2005. The Company has applied for a waiver from strict  
    compliance with Rule 14.38 of the Listing Rules by extending the          
    despatch date of the Circular to no later than 27th May, 2005. However,   
    as additional time is required to (i) finalise the details in the         
    relevant accountants' report; and (ii) complete the due diligence work    
    on Best Winning, completion of which is expected to be within two weeks,  
    an application has been made to the Stock Exchange by the Company for     
    the further delay in despatch of the Circular to on or before 17th June,  
    2005.                                                                     
                                                                              
    Shareholders and potential investors of the Company should note that      
    Completion, which is subject to a number of conditions, may or may not    
    take place. Shareholders and potential investors of the Company are       
    advised to exercise caution when dealing in the Shares.                   
                                                                              
    By Order of the Board                                                     
    Riche Multi-Media Holdings Limited                                        
    Heung Wah Keung                                                           
    Chairman                                                                  
                                                                              
    Hong Kong, 26th May, 2005                                                 
                                                                              
    As at the date of this announcement the executive directors of the        
    Company are Mr. Heung Wah Keung, Ms. Chen Ming Yin, Tiffany and Mr. Lei   
    Hong Wai and the independent non-executive directors of the Company are   
    Mr. Lien Wai Hung, Mr. Tang Chak Lam, Gilbert and Mr. Ho Wai Chi, Paul.