CR Construction Group Holdings Limited — M&A Activity 2000

Jun 7, 2000

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy of 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.

Mr. Tsim Wing Kong

DELAY IN DESPATCH OF RESPONSE DOCUMENT

There will be a delay in the despatch of the circular to shareholders of the Company in response to the Offer by Mr. Tsim Wing Kong from 5 June 2000 to no later than 19 June 2000. Mr. Tsim Wing Kong has agreed that the closing of the Offer would be postponed to 7 days after despatch of the response document i.e. on or before 27 June 2000.

The offer document relating to the unconditional mandatory cash offers by Vickers Ballas Hong Kong Limited and Tai Fook Securities Company Limited on behalf of Mr. Tsim Wing Kong (the "Offer") was posted on 23 May 2000. Pursuant to Rule 8.4 of the Hong Kong Code on Takeovers and Mergers, a circular to shareholders of the Company in response to the Offer (the "Response Document") is required to be despatched within 14 days, i.e. on or before 5 June 2000.

The Company requires more time to prepare and finalise the financial information to be included in the Response Document. The Company is applying to SFC for an extension of time for the despatch of the Response Document from 5 June 2000 to 19 June 2000 .

Mr. Tsim Wing Kong has agreed that the closing of the Offer would be postponed to 7 days after despatch of the response document i.e. on or before 27 June 2000.

By Order of the Board By Order of the Board

KEL Holdings Limited Wonderland Development Limited

Leung Yat Tung Tsim Wing Kong

Chairman Chairman

Hong Kong, 5 June 2000

Mr. Tsim accepts full responsbility for the accuracy of the information contained in this announcement (other than that relating to the Company) and confirms, after having made all reasonable inquires, that to the best of his knowledge, the opinions experessed in this announcement have been arrived at after due and careful consideration and there are no other material facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

The Directors accept full responsibility for the accuracy of the information contained in this announcement (other than that relating to Mr. Tsim) and confirm, having made all reasonable inquires, that to the best of their knowledge, the opinions expressed in this announcement (other than that those expressed by Mr. Tsim) have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

"Please also refer to the published version of this announcement in the Hong Kong i-mail"