09:08     HAYWOOD INV<00905> - Announcement (1)                               

    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.                                                             
                                                                              
    HAYWOOD INVESTMENTS LIMITED                                               
    *                                                                         
    (Incorporated in Cayman Islands with limited liability)                   
    (Stock Code: 905)                                                         
                                                                              
    UNUSUAL PRICE & VOLUME MOVEMENTS                                          
    AND                                                                       
    CHANGE IN THE SUBSTANTIAL SHAREHOLDER OF THE COMPANY                      
                                                                              
    Unusual price and volume movements                                        
                                                                              
    The Board has noted the increases in the price and the trading            
    volume of the Shares of the Company today and wishes to state             
    that the Board is not aware of any reasons for such increases             
    in price and the trading volume save for the change in substantial        
    shareholder of the Company and Mr. Cui Zanming, a non executive           
    director of the Company, has disposed of his Shares today as              
    disclosed below.                                                          
                                                                              
    Change in the substantial shareholder of the Company                      
                                                                              
    The Board announces that the Company has been notified by Mr.             
    Lee Wing On Samuel, a substantial shareholder of the Company,             
    that he has disposed of 32,790,400 Shares to Xiyang on 30 May             
    2005, representing approximately 20.49% of the existing issued            
    share capital of the Company, at a consideration of HK$2,295,328          
    (equivalent to HK$0.07 per Share) and to the best knowledge of            
    the Company, following the acquisition of i) such 32,790,400              
    Shares from Mr. Lee Wing On Samuel and ii) 9,920,000 Shares               
    through the Stock Exchange at the price of HK$0.065 per Share             
    as at the date of this announcement, Xiyang and its associates            
    are interested in 42,710,400 Shares, representing approximately           
    26.69% of the existing issued share capital of the Company, and           
    become the new substantial shareholder of the Company.                    
                                                                              
    Immediately before the acquisition of Shares, Xiyang and its              
    ultimate beneficial owners are independent third parties and              
    not connected persons (as defined in the Listing Rules) of the            
    Company.                                                                  
                                                                              
    Disposal of Shares by Mr. Cui Zanming                                     
                                                                              
    The Board also wishes to announce that the Company has been               
    notified by Mr. Cui Zanming, a non executive director of the              
    Company, that he has disposed of 9,600,000 Shares at a price              
    of HK$0.065 per Share through the Stock Exchange today.                   
                                                                              
    Unusual price and volume movements                                        
                                                                              
    This statement is made at the request of the Stock Exchange.              
                                                                              
    The Board has noted the increases in the price and the trading            
    volume of the Shares of the Company today and wishes to state             
    that, the Board is not aware of any reasons for such increases            
    in price and the trading volume save for the change of substantial        
    shareholder of the Company and Mr. Cui Zanming, a non executive           
    director of the Company, has disposed of his Shares today as              
    disclosed below.