CHYY Development Group Limited — Capital/Financing Update 2006

Feb 23, 2006

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.

IIN INTERNATIONAL LIMITED 國訊國際有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8128)

COMPLETION OF PLACING OF 85,000,000 NEW SHARES

The Board is pleased to announce that completion of the Subscription took place on 23 February 2006 in accordance with the terms of the Subscription Agreement.

Introduction

Reference is made to the announcement of IIN International Limited (the “Company”) dated 3 February 2006 (the “Announcement”) in relation to the placing of 85,000,000 new shares. Unless otherwise stated, terms used in this announcement shall have the same meanings as defined in the Announcement.

On 27 January 2006, the Company entered into the Subscription Agreement with the Subscriber whereby the Company has agreed to issue and allot to the Subscriber and the Subscriber has agreed to subscribe for the Subscription Shares.

Completion of the Subscription

The board (the “Board”) of directors (the “Directors”) of the Company is pleased to announce that the Subscription was completed on 23 February 2006 in accordance with the terms of the Subscription Agreement.

As of the date of this announcement, the Board of Directors of the Company comprises Mr. Wu Shu Min, Mr. Jin Feng, Mr. Chang Xiao Hui and Mr. Li Jun Chao as executive Directors, Mr. Leong Ka Cheong, Christopher and Mr. Chang Ye Min, William as non-executive Directors, Mr. Liu Yang, Mr. Li Junlin and Mr. Jin Dunshen as independent non-executive Directors.

By order of the Board of IIN International Limited Wu Shu Min

Chairman

Hong Kong, 23 February 2006

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This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading; (2) there are no other matters the omission of which would make any statement in this announcement misleading; and (3) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

This announcement will remain on the “Latest Company Announcement” page on the GEM website for at least 7 days from the date of publication.

• For identification purposes only

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