09:09 E-LIFE INT'L<00370> - 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. CHINA BEST GROUP HOLDING LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 370) CHANGE OF COMPANY NAME The name of the Company has been changed from "E-LIFE International Limited" to "China Best Group Holding Limited" and a new Chinese name of "*" was also adopted by the Company to replace the existing Chinese name of "*" for identification purposes only. Reference is made to the announcement (the "Announcement") of China Best Group Holding Limited (the "Company") dated 3 February 2005 and the circular of the Company dated 8 April 2005 (the "Circular"). Terms defined in this announcement shall have the same meanings as those defined in the Announcement and the Circular unless the context requires otherwise. The special resolution regarding the change of the name of the Company from "E-LIFE International Limited" to "China Best Group Holding Limited", and the adoption of a new Chinese name of "*" to replace the existing Chinese name of "*" for identification purposes only, was passed by the Shareholders at the SGM held on 4 May 2005 as announced by the Company on 5 May 2005. The new name of the Company was entered into the register by the Registrar of Companies in Bermuda (the "Registrar") on 4 May 2005 and the Certificate of Incorporation on Change of Name dated 10 May 2005 issued by the Registrar was received by the Company on 13 May 2005. The Company has carried out the necessary filing procedures with the Registrar of Companies of Hong Kong and the Certificate of Registration of Change of Name of Oversea Company dated 28 May 2005 was received by the Company on 30 May 2005. With effect from 2 June 2005: (i) the shares of the Company will be traded under the new name; (ii) the English stock short name of the Company will be changed from "E-LIFE INT'L" to "CHINA BEST"; and (iii) the Chinese stock short name will be changed from "*" to "*". The stock code of the Company will remain unchanged as "370". FREE EXCHANGE OF SHARE CERTIFICATES The Board has now decided to free exchange the existing share certificates of the Shareholders for the new share certificates bearing the new name of the Company. Shareholders may on or after 8 June 2005 until 31 July 2005 (both dates inclusive) submit their existing share certificates to the Company's branch share registrar in Hong Kong, Tengis Limited at 28th Floor, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong, in exchange, at the expense of the Company, for new share certificates bearing the new name of the Company. The new share certificates will be available to the Shareholders for collection within 10 working days from the date of submission for the exchange. After 31 July 2005, existing share certificates will be accepted for exchange only on payment of a fee of HK$2.50 (or such higher amount as may from time to time be allowed by the Stock Exchange) for each new share certificate. However, the change of name of the Company will not affect any of the rights of the Shareholders. All existing share certificates in issue bearing the former name of the Company will continue to be evidence of title of the Shares and will be valid for trading, settlement and registration purposes. With effect from the date of this announcement, all new share certificates will be issued in the new name of the Company. By order of the Board China Best Group Holding Limited Wang Jian Hua Chairman Hong Kong, 30 May 2005 As at the date of this announcement, the Board comprises seven executive Directors, namely Mr. Wang Jian Hua, Mr. Ng Tang, Mr. Ren Zheng, Ms. Ma Jun Li, Ms. Cheung Hoi Ping, Mr. Wang Da Yong and Mr. Zhang Jun; and three independent non-executive Directors, namely Ms. Chung Kwo Ling, Mr. Sun Yeung Yeung and Mr. Lee Yuen Kwong. * For the Chinese name, please refer to the press announcement today.