DIT Group Limited — Capital/Financing Update 2002

Apr 18, 2002

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.

SOUTH EAST GROUP LIMITED 東南國際集團有限公司

(Incorporated in Bermuda with limited liability)

ANNOUNCEMENT

Reference is made to the announcement of the Company dated 6th November 2000 regarding the connected transaction of acquisition of residential premises in Australia. Contracts for acquiring the Properties have been terminated by Deeds of Termination dated 2nd April 2002.

Reference is made to the announcement of the Company dated 6th November 2000 (the “Announcement”) regarding the connected transaction of acquisition of two units of residential premises in Sydney, Australia. All capitalized terms used herein shall have the same meanings as defined in the Announcement.

The two Contracts have been terminated respectively by two deeds of termination both dated 2nd April 2002 between the Vendor and the Purchaser (“Deeds of Termination”). Consideration of the Deeds of Termination involves the Purchaser forfeiting in favour of the Vendor in the sum of A$32,500 (approximately HK$134,550) (the “Fortfeited Sum”). The Fortfeited Sum has been agreed upon by the Purchaser and the Vendor through negotiation in accordance with the terms of Contracts whereas the Vendor has made concessions to their entitlements. The directors of the Company consider that the Fortfeited Sum is reasonable and based on normal and commercial terms.

A reason for acquiring the Properties was to provide accommodation to the Group’s expatriate staff who was going to supervise and monitor the residential property development project in Australia. As construction of the superstructure of the residential complex in Australia is very likely to be contracted with outside builders, the Group does not need the Properties to provide accommodation for expatriate staff in that case.

By order of the Board South East Group Limited Liu Kwok Wah, Martin Director

Note: Exchange rate used in this announcement is A$1 to HK$4.14. Hong Kong, 17th April 2002

Please also refer to the published version of this announcement in the Hong Kong iMail.