Computer And Technologies Holdings Limited — Capital/Financing Update 2000

Jan 24, 2000

Listed Company Information

CHINA AEROSPACE<0031> - Announcement 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. CHINA AEROSPACE INTERNATIONAL HOLDINGS LIMITED (Incorporated in Hong Kong with limited liability) Announcement China Aerospace International Holdings Limited (the ``Company'') is considering a fund raising exercise. However, no final structure has been reached. Shareholders and investors are advised to exercise caution in dealings in the shares of the Company. This Statement is made at the request of The Stock Exchange of Hong Kong Limited. We have noted the recent increases in the price and the trading volume of the shares of the Company and wish to state that we are not aware of any reasons for such increases except the following: The Company has been recently approached by a number of merchant banks in respect of fund raising exercise of the Company (including equity financing and debt financing). However, the structure, terms (including pricing and the amount raised) and the use of proceeds (which may be for the Company's investment in the Digital Video Broadcasting --- Cable Service in the PRC as described in the Company's announcement dated 10th December, 1999) have not been determined and no merchant bank has been appointed. Details of the terms of the fund raising exercise will be announced if and when they are finalized. As such, the fund raising exercise may or may not proceed. We also confirm that, save as disclosed above, there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price- sensitive nature. Shareholders and investors are advised to exercise caution in dealings in the shares of the Company. Made by the order of the Board of the Company, the directors of which (save for Messrs. Li Baoan and Wang Guo Lin, who are non-executive directors and Ms. Chan Ching Har, Eliza, who is independent non-executive director, and are not contactable prior to the issue of this announcement) individually and jointly accept responsibility for the accuracy of this statement. By Order of the Board Chan King Chung Company Secretary Hong Kong, 21st January, 2000