09:12     BUILD KING HOLD<00240> - Announcement (2)                           

    The Road King Investments                                                 
    The Group, through Smart Start, acquired an aggregate                     
    of 2,065,000 Road King Shares (representing                               
    approximately 0.35% of the issued share capital of Road                   
    King, based on its issued share capital of 586,412,566                    
    Road King Shares as at 31 March 2005) during the period                   
    from 10 May 2004 to 11 April 2005 (both dates inclusive).                 
    The total consideration for the Road King Investments                     
    was approximately HK$11,411,700 (exclusive of                             
    transaction costs) which was fully satisfied in cash                      
    and funded by the internal resources of the Group. The                    
    consideration represented the then market prices of the                   
    Road King Shares. The range of the acquisition price                      
    per Road King Share was HK$5.200 to HK$5.650 and its                      
    weighted average price per share was HK$5.526. The                        
    highest and lowest price of the Road King Shares as                       
    quoted on the Stock Exchange on 26 May 2005, being the                    
    last trading day prior to the issue of this announcement,                 
    were HK$5.55 and HK$5.50 per share, respectively.                         
                                                                              
    Prior to the Road King Investments, a total of 1,552,000                  
    Road Kings Shares were acquired during the period from                    
    3 to 18 November 2003 by Leader Construction Company                      
    Limited, a then wholly-owned subsidiary of Wai Kee.                       
    Such company has become a wholly-owned subsidiary of                      
    the Company since completion of the restructuring of                      
    the Company on 23 April 2004 as detailed in the circular                  
    of the Company dated 24 February 2004.                                    
                                                                              
    The Zhejiang Glass Investments                                            
    The Group, through Smart Start, acquired an aggregate                     
    of 4,093,000 Zhejiang Glass Shares (representing                          
    approximately 0.71% of the issued share capital of                        
    Zhejiang Glass, based on its issued share capital of                      
    578,713,000 Zhejiang Glass shares as at 31 March 2005)                    
    during the period from 4 August 2004 to 11 April 2005                     
    (both dates inclusive). The total consideration for the                   
    Zhejiang Glass Investments was HK$8,807,600 (exclusive                    
    of transaction costs) which was fully satisfied in cash                   
    and funded by the internal resources of the Group. The                    
    consideration represented the then market prices of the                   
    Zhejiang Glass Shares. The range of the acquisition                       
    price per Zhejiang Glass Share was HK$2.075 to HK$2.450                   
    and its weighted average price per share was HK$2.1519.                   
    The highest and lowest price of the Zhejiang Glass Share                  
    as quoted on the Stock Exchange on 26 May 2005, being                     
    the last trading day prior to the issue of this                           
    announcement, were HK$1.93 and HK$1.85 per share,                         
    respectively.                                                             
                                                                              
    No Zhejiang Glass Shares were held by the Group                           
    immediately prior to the Zhejiang Glass Investments.                      
                                                                              
    As the Investments were all conducted on the market                       
    operated by the Stock Exchange, the Company is not aware                  
    of the identities of the vendors of the Road King                         
    Investments and the Zhejiang Glass Investments and                        
    accordingly, to the best of the directors' knowledge,                     
    information and belief, having made all reasonable                        
    enquiries, the vendors of the Road King Investments and                   
    the Zhejiang Glass Investments are third parties                          
    independent of the Group and the connected persons of                     
    the Company. Road King is an associate of Wai Kee, the                    
    Company's holding company, which is a connected person                    
    of the Company, whereas Zhejiang Glass is not a                           
    connected person of the Company.                                          
                                                                              
    REASONS FOR THE INVESTMENTS                                               
    The Company is an investment holding company. Its                         
    subsidiaries are principally engaged in the                               
    undertaking of civil engineering projects in Hong Kong,                   
    the PRC and Taiwan and carry on the other business                        
    activities as stated in the annual report of the Company                  
    for the year ended 31 December 2004.