First Service Holding Limited — Proxy Solicitation & Information Statement 2000

Feb 29, 2000

Listed Company Information

MAN YUE INT'L<0894> - Announcement 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. MAN YUE INTERNATIONAL HOLDINGS LIMITED (Incorporated in Bermuda with limited liability) Man Yue International Holdings Limited (the "Company") proposes to convene a special general meeting to approve the renewal of a general mandate to the directors of the Company (the "Directors") to issue, allot and deal with additional shares in the capital of the Company, details of which are set out in the notice of the special general meeting of the Company. The Company has given notice to convene a special general meeting ("SGM") to be held at 2:30 p.m. on 16th March, 2000 at which an ordinary resolution will be proposed for the shareholders to consider, and if thought fit, to grant a new general mandate ("Mandate") to the Directors to allot and issue such securities of the Company subject to a restriction that the aggregate number of securities allotted or agreed to be allotted must not exceed 20% of the aggregate nominal amount of the existing issued share capital of the Company. Subsequent to the recent top-up subscription of shares of the Company in February 2000, the existing general mandate granted to the Directors in an annual general meeting on 23rd June, 1999 to issue, allot and deal with additional shares in the capital of the Company has been fully utilised. Having regard to the current market conditions, the Directors consider that the Mandate will provide greater flexibility to the Directors for the allotment and issue of new shares of the Company when they consider appropriate. The Directors consider equity issue as a means to raise funds for the Company and its subsidiaries as and which such funds are required. As at the date of this announcement, the Company has not entered into any agreement which requires the further allotment or issue of any new shares of the Company. The Directors are of the opinion that the grant of the Mandate is in the interests of the Company. This announcement together with the notice convening the SGM and a form of proxy for use in relation to the SGM will be despatched to the shareholders of the Company shortly. By Order of the Board Man Yue International Holdings Limited Chan Ho Sing Chairman Hong Kong, 28th February, 2000