CHYY Development Group Limited — Regulatory Filings 2004

Oct 18, 2004

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)

ANNOUNCEMENT AMENDMENTS TO THE ARTICLES OF ASSOCIATION AND APPOINTMENT OF AUDITORS

The Company proposes (i) to amend the Articles of Association to align with certain amendments made to the GEM Listing Rules relating to corporate governance issues, which came into effect on 31 March 2004 (subject to certain transitional arrangements); and (ii) to appoint Grant Thornton as the auditors of the Company to replace Ernst & Young, the outgoing auditors of the Company, which resigned on 5 October 2004.

The proposed amendments to the Articles of Association are subject to the approval of the shareholders of the Company by way of a special resolution and the proposed appointment of Grant Thornton as the auditors of the Company is subject to the approval of the shareholders of the Company by way of an ordinary resolution at the EGM. A circular containing details of the proposed amendments to the Articles of Association and the proposed appointment of auditors, together with the notice of the EGM and the form of proxy, is expected to be dispatched to the shareholders of the Company on or around 18 October 2004.

The board of directors of IIN International Limited (the “Company”) announces that the Company proposes (i) to amend its articles of association (the “Articles of Association”) to align with certain amendments made to the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the “GEM Listing Rules”) relating to corporate governance issues, which came into effect on 31 March 2004 (subject to certain transitional arrangements); and (ii) to appoint Messrs. Grant Thornton, Certified Public Accountants (“Grant Thornton”) as the auditors of the Company.

As the Company and Ernst & Young could not reach an agreement on audit fee for the financial year ended 30 September 2004, Ernst & Young resigned as the auditors of the Company with effect from 5 October 2004. Ernst & Young have confirmed that there are no matters that need to be brought to the attention of holders of securities of the Company.

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The proposed amendments to the Articles of Association are subject to the approval of the shareholders of the Company by way of a special resolution and the proposed appointment of Grant Thornton as the auditors of the Company is subject to the approval of the shareholders of the Company by way of an ordinary resolution at the extraordinary general meeting of the Company (the “EGM”) to be held at 10:30 a.m. on Wednesday, 10 November 2004 at Suite 15C, Entertainment Building, 30 Queen’s Road Central, Central, Hong Kong. A circular containing details of the proposed amendments to the Articles of Association and the proposed appointment of auditors together with the notice of the EGM and the form of proxy, is expected to be dispatched to the shareholders of the Company on or around 18 October 2004.

As at the date of this announcement, the member of the Board comprises executive directors namely, Wu Shu Min, Chang Ye Min, William, Jin Feng, non-executive directors namely Zhu Rong, Lo Wai Shun, Christopher Leong Ka Cheong and independent non-executive directors namely, Chan Wai Dune, Ng Ching Wo and Chen Junliang.

By Order of the Board IIN INTERNATIONAL LIMITED Chang Ye Min, William President & Chief Executive Officer

Hong Kong, 18 October 2004

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 IIN. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and (iii) 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 GEM website on the “Latest Company Announcements” page for at least 7 days from the day of its posting and on the website of IIN at www.iini.com.

• For identification purposes only

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