09:25     YANION INT'L<00082> - 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.                                                     
                                                                              
    This announcement is for information purposes only                        
    and does not constitute an invitation or offer to                         
    acquire, purchase or subscribe for any securities.                        
                                                                              
    YANION INTERNATIONAL HOLDINGS LIMITED                                     
    (incorporated in Bermuda with limited liability)                          
    (Stock code: 82)                                                          
                                                                              
    FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO                      
    (1) POSSIBLE VERY SUBSTANTIAL ACQUISITION INVOLVING                       
    CONDITIONAL ACQUISITION OF THE ENTIRE ISSUED SHARE                        
    CAPITAL OF GUOHUA INTERNATIONAL INVESTMENT LIMITED                        
    AND                                                                       
    (2) THE PROPOSED PLACING                                                  
                                                                              
    The Company has applied to the Stock Exchange for a                       
    waiver from strict compliance with Rule 14.38 of the                      
    Listing Rules to extend the deadline for despatch of                      
    the Circular from 30 May 2005 to 20 June 2005.                            
                                                                              
    Reference is made to the Company's announcements                          
    dated 7 March 2005, 24 March 2005, 15 April 2005 and                      
    9 May 2005 respectively. Terms used herein have the                       
    same meanings as defined in such announcements unless                     
    otherwise stated.                                                         
                                                                              
    As stated in the announcement of the Company dated                        
    9 May 2005, the Circular would be despatched on or                        
    before 30 May 2005. The Directors were informed by                        
    the Vendors that the undertaking given by the Vendors                     
    under the Sale and Purchase Agreement regarding                           
    distribution of undistributed profits of the Steel                        
    Plant is required to be amended at the request of the                     
    relevant PRC government authority as the relevant PRC                     
    government authority considered that such                                 
    undistributed profits should have been capitalized                        
    before the shareholders of the Steel Plant implement                      
    the Capital Increase. Those amendments are beyond the                     
    control of both the Vendors and the Company. The                          
    Vendors are in the process of finalization of such                        
    amendments with the shareholders of the Steel Plant                       
    and such amendments will require the respective                           
    approvals from the shareholders' approval                                 
    authorities. Upon the approvals of these amendments,                      
    the Vendors and the Company will vary the relevant                        
    terms of the Sale and Purchase Agreement to effect                        
    the negotiation by the Vendors and the shareholders                       
    of the Steel Plant. Upon the agreement as to such                         
    variation by the Vendors and the shareholders of the                      
    Steel Plant, a supplemental agreement to the Sale and                     
    Purchase Agreement will be entered into by the Vendors                    
    and the Company and a separate announcement will be                       
    published by the Company as and when appropriate.                         
                                                                              
    Under the circumstances, the Company has applied to                       
    the Stock Exchange for a waiver from strict compliance                    
    with Rule 14.38 of the Listing Rules to extend the                        
    deadline for the despatch of the Circular from 30 May                     
    2005 to 20 June 2005.                                                     
                                                                              
    By Order of the Board                                                     
    Yanion International Holdings Limited