08:54     GDC<08271> - 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.                                                             
                                                                              
    GLOBAL DIGITAL CREATIONS HOLDINGS LIMITED                                 
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 8271)                                                        
                                                                              
    WAIVER OF RESTORATION OF PUBLIC FLOAT                                     
                                                                              
    Reference is made to the joint announcement of the Company and            
    Shougang Concord Grand (Group) Limited dated 1 March 2005 and the         
    announcement of the Company dated 4 April 2005.                           
                                                                              
    As at the date of this announcement, so far as the Company is aware,      
    approximately 17.8% interests of the Company was held by the              
    public. An application has been made by the Company to the Stock          
    Exchange for a further waiver from strict compliance with Rule            
    11.23 of the GEM Listing Rules. In addition, the Company has              
    undertaken to the Stock Exchange to take appropriate steps (which         
    may include further issue of the Shares to independent third              
    parties or to procure the sale of the Shares held by existing             
    shareholders of the Company or a combination of the two) to public        
    hands within two months from 1 June 2005, being 31 July 2005.             
                                                                              
    Investors and shareholders of the Company should exercise caution         
    when dealing in the Shares.                                               
                                                                              
    As at the date of this announcement, the Board comprised Mr.              
    Anthony Francis Neoh and Mr. Cao Zhong (Joint Chairmen and                
    non-executive Directors); Mr. Raymond Dennis Neoh (Vice-chairman          
    and executive Director); Dr. David Deng Wei (Vice-chairman and            
    non-executive Director); and Mr. Chen Zheng (General manager and          
    executive Director); Mr. Gordon Kwong Che Keung, Professor Japhet         
    Sebastian Law and Mr. Bu Fan Xiao (independent non-executive              
    Directors).                                                               
                                                                              
    By Order of the Board                                                     
    Global Digital Creations Holdings Limited                                 
    Cheung Kei Yim                                                            
    Company Secretary                                                         
                                                                              
    Hong Kong, 30 May 2005                                                    
                                                                              
    This announcement will remain on the GEM website at www.hkgem.com         
    on the "Latest Company Announcements" page for at least 7 days            
    from the day of its posting and at the Company's website                  
    www.gdc-world.com.