Dynamic Holdings Limited — Capital/Financing Update 2000

Nov 29, 2000

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.

DYNAMIC HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability )

DISCLOSURE PURSUANT TO PRACTICE NOTE 19

On 28th November, 2000, Dynamic Holdings Limited (the "Company") and a wholly-owned subsidiary of the Company, Yonderille Developments Limited, have entered into a supplement to loan agreement ("Supplemental Loan Agreement") for extension of the banking facilities granted in an aggregate amount of HK$124,800,000. Pursuant to the Supplemental Loan Agreement, the covenants on the controlling shareholder of the Company, Mr. Chua Domingo, to maintain his controlling interest in the Company shall prevail. Otherwise, the banking facilities may be immediately due and payable.

The following disclosure is made by the Company in compliance with the disclosure requirements under Practice Note 19 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Supplemental Loan Agreement for extension of the banking facilities granted to Yonderille Developments Limited, a wholly-owned subsidiary of the Company, amounts to HK$124,800,000 which final maturity date shall be 28th November, 2003. On 28th November, 2000, the total amount of the banking facilities drawn and utilized thereunder is HK$124,800,000. Such Supplemental Loan Agreement imposes covenants to specific performance obligations on the controlling shareholder of the Company, Mr. Chua Domingo, who currently holds about 42.14% of the total issued share capital of the Company through his associates.

The specific performance obligation is that Mr. Chua Domingo shall not cease to be the holder of not less than 35% of the total issued share capital of the Company. Breach of such obligation will constitute an event of default under the terms of the Supplemental Loan Agreement. As a result, the banking facilities may become immediately due and payable on demand by the relevant lender according to the terms and conditions thereof.

	By Order of the Board
	Polly O. Y. Wong
	Secretary

Hong Kong, 28th November, 2000

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