Comba Telecom Systems Holdings Limited — Capital/Financing Update 2009

Jan 9, 2009

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make 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 content of this announcement.

==> picture [193 x 111] intentionally omitted <==

(incorporated in Bermuda with limited liability)

(stock code: 1003)

EXPECTED TIMETABLE FOR PROPOSED CAPITAL REORGANIZATION

Financial Adviser to the Company

Hercules Capital Limited

Reference is made to the announcement of the Company dated 22 December 2008 regarding the proposed Capital Reorganization (the “Announcement”). Terms used herein shall have the same meanings as ascribed thereto in the Announcement.

The expected timetable for the implementation of the Capital Reorganization, which is indicative only and may subject to change, is set out as follows:

2009

Despatch of circular and notice of the SGM ........................................................................ Monday, 12 January

Latest time for lodging forms of proxy for the SGM......................................9:30 a.m. on Monday, 9 February

Date of the SGM ....................................................................................... 9:30 a.m. on Wednesday, 11 February

Effective date for the Capital Reorganization .................................................................. Thursday, 12 February

New Shares commence trading on the Stock Exchange ............................. 9:30 a.m. on Thursday, 12 February

Original counter for trading in Shares in board lots of 20,000 Shares (in the form of existing share

certificates in light blue) temporarily closes ...........................................9:30 a.m. on Thursday, 12 February

Temporary counter for trading in New Shares in board lots of 1,000 New Shares (in the form of

existing share certificates in light blue) opens ........................................9:30 a.m. on Thursday, 12 February

* for identification purpose only

— 1 —

2009

First day for free exchange of existing share certificates in light blue for new share certificates in light yellow ............................................................................................. Thursday, 12 February

Original counter for trading in New Shares

in board lots of 20,000 New Shares in form of

new share certificates in light yellow re-opens .......................................9:30 a.m. on Thursday, 26 February

Parallel trading in New Shares in form of

new share certificates and existing share

certificates commences............................................................................. 9:30 a.m. on Thursday, 26 February

Designated broker starts to stand in the market

to provide matching services for sale and

purchase of odd lots of New Shares.............................................................................. Thursday, 26 February

Temporary counter for trading in New Shares

in board lots of 1,000 New Shares in the form of

existing share certificates in light blue closes ......................................... 4:10 p.m. on Wednesday, 18 March

Parallel trading in New Shares in form of

new share certificates and

existing share certificates ends................................................................. 4:10 p.m. on Wednesday, 18 March

Designated broker ceases to stand in the market

to provide matching services for sale and

purchase of odd lots of New Shares......................................................... 4:10 p.m. on Wednesday, 18 March

Last day for free exchange of existing share

certificates in light blue for new share

certificates in light yellow ................................................................................................... Monday, 23 March

All times and dates in this announcement refer to Hong Kong local times and dates. Any consequential change in the expected timetable will be notified to the Shareholders by publication of an announcement as and when appropriate.

By Order of the Board GFT Holdings Limited Ng Kai Man Executive Director

Hong Kong, 9 January 2009

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Ha Kee Choy, Eugene, Ms. Ma Wai Man, Catherine and Mr. Ng Kai Man; and three independent non-executive Directors, namely Mr. Cheng Yuk Wo, Mr. Chui Chi Yun, Robert and Ms. Leung Sau Fan, Sylvia.

— 2 —