Eminence Enterprise Limited — M&A Activity 2003

Apr 14, 2003

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.

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EASYKNIT INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability)

i100 Limited

(Incorporated in Bermuda with limited liability)

Closing of the mandatory unconditional cash offer by Altus Capital Limited on behalf of Landmark Profits Limited

for all the issued Shares and outstanding Options to subscribe for Shares in i100 Limited

(other than those Shares already owned and/or agreed to be acquired by Landmark Profits Limited or parties acting in concert with it) and

Resignation of Director of i100

The latest time for acceptance of the Offers was 4:00 p.m. on 14th April, 2003 and the Offers were closed on 14th April, 2003. As at 4:00 p.m. on 14th April, 2003, Landmark Profits has received valid acceptances in respect of 369,460 Shares under the Share Offer, representing approximately 0.03% of the entire issued share capital of i100. In addition, no acceptance has been received from the Optionholders.

Immediately before the commencement of the Offers, Landmark Profits and parties acting in concert with it were interested in an aggregate of 609,000,000 Shares, representing approximately 55.27% of the then total issued share capital of i100. Taking into account the valid acceptances of the Share Offer in respect of 369,460 Shares and subject to completion of the transfer of such Shares to Landmark Profits, Landmark Profits and parties acting in concert with it will be interested in 609,369,460 Shares, representing approximately 55.30% of the total issued share capital of i100. As a result, the independent shareholders of i100 will be interested in 492,503,540 Shares, representing approximately 44.70% of the total issued share capital of i100, which is sufficient for maintaining the minimum percentage of 25% of Shares in public hands as required under Rule 8.08 of the Listing Rules.

With effect from 15th April, 2003, being the date after the closing date of the Offers, Mr. Ko Pil Jae, Peter, a non-executive director of i100, will resign from the Board of i100.

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Reference is made to the joint announcements (“Announcements”) dated 6th February, 2003, 26th February, 2003, 12th March, 2003 and 28th March, 2003 issued by Easyknit International Holdings Limited and i100 Limited in relation to the mandatory unconditional cash offer made by Altus Capital Limited on behalf of Landmark Profits Limited to acquire all the issued shares and outstanding options to subscribe for shares in i100 Limited (other than those shares in i100 Limited already owned and/or agreed to be acquired by Landmark Profits Limited or parties acting in concert with it). Terms used herein have the same meanings as ascribed thereto in the Announcements unless the context otherwise requires.

Closing of the Offers and Acceptances Level

The latest time for acceptance of the Offers was 4:00 p.m. on 14th April, 2003 and the Offers were closed on 14th April, 2003. As at 4:00 p.m. on 14th April, 2003, Landmark Profits has received valid acceptances in respect of 369,460 Shares under the Share Offer, representing approximately 0.03% of the entire issued share capital of i100. In addition, no acceptance has been received from the Optionholders.

Public Float of Shares

Immediately before the commencement of the Offers, Landmark Profits and parties acting in concert with it were interested in an aggregate of 609,000,000 Shares, representing approximately 55.27% of the then total issued share capital of i100. Taking into account the valid acceptances of the Share Offer in respect of 369,460 Shares and subject to completion of the transfer of such Shares to Landmark Profits, Landmark Profits and parties acting in concert with it will be interested in an aggregate of 609,369,460 Shares, representing approximately 55.30% of the total issued share capital of i100. As a result, the independent shareholders of i100 will be interested in 492,503,540 Shares, representing approximately 44.70% of the total issued share capital of i100, which is sufficient for maintaining the minimum percentage of 25% of Shares in public hands as required under Rule 8.08 of the Listing Rules.

Resignation of Director of i100

As stated in the Offeree Document issued by i100 dated 31st March, 2003 in relation to the Offers, Mr. Ko Pil Jae, Peter, a non-executive director of i100, will resign from the board of directors (the “Board”) of i100 with effect from 15th April, 2003, being the date after the closing date of the Offers. The Board of i100 would like to express its gratitude to Mr. Ko Pil Jae, Peter for his services and significant contribution in the past to i100 during his term of office.

By order of the board of directors Easyknit International Holdings Limited KOON Wing Yee President and Chief Executive Officer

By order of the board of directors i100 Limited KAN, Siu Kei Laurie President

Hong Kong, 14th April, 2003

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The directors of Easyknit jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than matters in relation to the i100 Group) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement (other than matters in relation to the i100 Group) the omission of which would make any statement in this announcement misleading.

The directors of i100 jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (as to matters in relation to the i100 Group only) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement (as to matters in relation to the i100 Group only) the omission of which would make any statement in this announcement misleading.

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

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