Build King Holdings Limited — Proxy Solicitation & Information Statement 2000

Sep 6, 2000

SEAPOWER INTERNATIONAL HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

Notice of Special General Meeting

NOTICE IS HEREBY GIVEN THAT a special general meeting of Seapower International Holdings Limited (the "Company") will be held at the Conference Room on 23/F., 1 Wellington Street, Central, Hong Kong on Thursday, 28th September, 2000 at 3:50 p.m. or so soon thereafter as the annual general meeting of the Company convened at the same place and on the same day shall have been concluded or adjourned (whichever is the later), for the purpose of considering and, if thought fit, passing the following resolution as a special resolution:

Special Resolution

"THAT, subject to the approval of the Registrar of Companies in Bermuda, the name of the Company be changed from "Seapower International Holdings Limited" to "I-China Holdings Limited"."

By Order of the Board

Louisa Tam Suet Lin

Company Secretary

Hong Kong, 5th September, 2000

Notes:

(1) A member entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and vote on his behalf in accordance with the Bye-laws of the Company. A proxy need not be a member of the Company.

(2) A form of proxy will be despatched to the shareholders as soon as possible. Completion and return of the form of proxy will not preclude a member from attending the meeting if he so wishes. In the event that a member who has lodged a form of proxy attends the meeting, his form of proxy will be deemed to have been revoked.

(3) In order to be valid, the form of proxy, together with the power of attorney or other authority (if any) under which it is signed or a notarially certified copy thereof, must be deposited at the principal place of business of the Company at 22nd-23rd Floors, 1 Wellington Street, Central, Hong Kong not less than 48 hours before the time appointed for the meeting.

(4) In the case of joint holders of a share, any one of such holders may vote at the meeting either personally or by proxy in respect of such shares as if he were solely entitled thereto; but if more than one of such joint holders be present at the meeting personally or by proxy, that one of such holders whose name stands first in the register of members of the Company shall alone be entitled to vote in respect of that share.

(5) The Register of Members of the Company will be closed from 26th September, 2000 to 28th September, 2000, both days inclusive, during which period no transfer of shares will be registered.

Please also refer to the published version of this announcement in the i Mail dated 6/9/2000.