Eminence Enterprise Limited — M&A Activity 2000

Feb 10, 2000

Listed Company Information

ACME LANDIS<0616> - Announcement ACME LANDIS HOLDINGS LIMITED ANNOUNCEMENT The Directors confirm that the Company is considering the co-investment with PRC internet and telecom operators in the acquisition of shares in a listed company in Hong Kong. The Directors wish to emphasise that no agreement has been reached on the Investment and it may or may not proceed. This statement is made at the request of The Stock Exchange of Hong Kong Limited. The board of directors (the "Directors") of Acme Landis Holdings Limited (the "Company") have noted the increase in the price and trading volume of the shares of the Company today and wish to state that they are not aware of the reasons for such increase. The Directors announced on 1st February, 2000 that the Company has entered into a subscription agreement pursuant to which 800,000,000 new shares may be issued to certain subscribers (the "Subscription"). The Directors wish to state that since 8th February, 2000, the Company is, together with the directors of i100 Corporation (being one of the subscribers under the Subscription), in discussion with an independent third party regarding a possible co-investment (the "Investment") by the Company with PRC internet and telecom operators into an investment vehicle which is considering the acquisition of shares in a listed company in Hong Kong. The Directors wish to state that no agreement has been reached regarding the Investment and it may or may not proceed. The negotiations are in their early stages and none of the terms (including pricing and shareholding percentage) of the Investment have been agreed. The Investment may or may not constitute a notifiable transaction of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. None of the Directors have dealt in the shares of the Company since they became aware of the discussions in relation to the Investment. Save as mentioned above, neither the Company nor any of its subsidiaries are involved in negotiations or parties to any agreements in relation to intended acquisitions or realisations which are discloseable under paragraph 3 of the Listing Agreement, nor are the Directors 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. As the Subscription and the Investment may or may not proceed, shareholders and public investors are advised to exercise caution when dealing in the shares of the Company. Made by the order of the board of the Company, the Directors of which (except for Mr. John Chiu and Mr. John Lee, who are currently overseas and not contactable) individually and jointly accept responsibility for the accuracy of this announcement. On behalf of the Board David Chiu Chun Leong Director Hong Kong, 9th February, 2000