09:18     WONSON INT'L<00651>-Announcement&Resumption of Trading(3)           

    (ii)                                                                      
    the occurrence of any local, national or international event or           
    change (whether or not forming part of a series of events or changes      
    occurring or continuing before and/or after the date hereof) of a         
    political, military, financials, economic, currency (including a          
    change in the system under which the value of the Hong Kong currency      
    is linked to the currency of the United States of America) or other       
    nature (whether or not sui generis with any of the foregoing), or in      
    the nature of any local, national, international outbreak or              
    escalation of hostilities or armed conflict, or affecting local           
    securities market or the occurrence of any combination of                 
    circumstances which may, in the reasonable opinion of Kingston,           
    materially and adversely affect the business or the financial or          
    trading position or prospects of the Group as a whole or adversely        
    prejudices the success of the Placing of the Shares by potential          
    investor(s) or otherwise makes it inexpedient or inadvisable for the      
    Company or Kingston to proceed with the Placing; or                       
                                                                              
    (iii)                                                                     
    any change in market conditions or combination of circumstances in        
    Hong Kong (including without limitation suspension or material            
    restriction on trading in securities) occurs which affect the success     
    of the Placing (such success being the placing of the Shares to           
    potential investor(s)) or otherwise in the reasonable opinion of the      
    Kingston make it inexpedient or inadvisable or inappropriate for the      
    Company or Kingston to proceed with the Placing.                          
                                                                              
    The Directors are not aware of the occurrence of any of such events       
    as at the date of this announcement.                                      
                                                                              
    The Placing may or may not proceed. Shareholders and potential            
    investors are advised to exercise caution when dealing in the Shares.     
                                                                              
                                                                              
    Completion                                                                
    The Placing is to be completed on or before the third business day        
    after satisfaction of the Placing Condition or such other date as the     
    parties may agree. The Placing Agreement will lapse if the Placing        
    Conditions are not satisfied by 15th August, 2005 or such later date      
    as may be agreed between the Company and Kingston.                        
                                                                              
    Reason for the Placing                                                    
    In view of the current market conditions the Directors consider that      
    the Placing represents an opportunity to raise capital for the            
    Company while broadening the shareholder base and the capital base of     
    the Company.                                                              
                                                                              
    THE SECOND PLACING                                                        
    Further to the announcement of the Company dated 24 March, 2005 in        
    relation to the postponement of the latest date of fulfillment of         
    conditions for completion of the Second Placing from 31 March, 2005       
    to 31 May, 2005, as at the date of this announcement, the conditions      
    of the Second Placing has not been fulfilled and at this stage, the       
    Company has not agreed with Kingston as to whether the Second Placing     
    will be completed on or before 3 June 2005 (being the third business      
    day after 31 May, 2005) or whether the completion of the Second           
    Placing will be further extended. The Company will make an                
    announcement in relation to the completion of the Second Placing as       
    and when it is appropriate.                                               
                                                                              
    EFFECT ON SHAREHOLDING STRUCTURE                                          
    The existing and enlarged shareholding structure of the Company           
    immediately before and after the issue of the Placing Shares, Capital     
    Reorganisation and the issue of Reorganised Shares under the Second       
    Placing (assuming that there are no other changes in the issued share     
    capital of the Company) are set out below:                                
                                                                              
    Name of Shareholders    No. of shares held at the date of this            
    announcement    Percentage of issued share capital at the date of         
    this announce-ment    No. of shares held immediately before the           
    Placing and the issue of shares pursuant to the Second Placing but        
    after the Capital Reorganisation    Percentage of entire issue share      
    capital of the Company immediately before the Placing and the issue       
    of shares pursuant to the Second Placing but after the Capital            
    Reorganisation     No. of Reorganised Shares held immediately after       
    the Placing and Capital Reorganisation but before the issue of shares     
    pursuant to the Second Placing    Percentage of entire issue share        
    capital of the Company immediately after the Placing and Capital          
    Reorganisation but before the issue of shares pursuant to the Second      
    Placing     No. of Reorganised Shares held immediately after the          
    Placing, the Second Placing and Capital Reorganisation (Note)             
    Percentage of entire issue share capital of the Company immediately       
    after the Placing, the Second Placing and Capital Reorganisation          
    (Note)