Deewin Tianxia Co., Ltd — Net Asset Value 2005

May 12, 2005

NEW CAPITAL INTERNATIONAL INVESTMENT LIMITED

As at 30th April, 2005, the unaudited consolidated net asset value per share of the Company was approximately:

HK$0.334

Such net asset value per share is based on 647,114,000 shares of the Company in issue and in arriving at the consolidated net asset value, the Company’s interest in the jointly controlled entities is stated at cost less provision for permanent diminution in value where appropriate.

As at the date of this announcement, the members of the Board are Mr. Liu Xiao Guang, Mr. Cheng Bing Ren, Mr. Lawrence H. Wood, Mr. Liu Xue Min, Mr. Kwong Chun Wai Michael, Mr. To Chun Kei and Mr. Fung Tze Wa.

Hong Kong, 13th May, 2005

Please also refer to the published version of this announcement in The Standard.