Founder Holdings Limited — M&A Activity 2003

Mar 6, 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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NEW CENTURY GROUP HONG KONG LIMITED

(incorporated in Bermuda with limited liability)

ANNOUNCEMENT

A wholly-owned subsidiary of the Company has submitted a Tender on 6th March, 2003 to acquire a commercial building located on Des Voeux Road in Central, Hong Kong. The Tender is subject to the acceptance by the vendor.

The Acquisition may or may not proceed, shareholders and public investors are advised to exercise caution when dealing in the shares of the Company.

The directors (“Directors”) of New Century Group Hong Kong Limited (“Company”) wish to announce that a wholly-owned subsidiary of the Company (“Purchaser”) has submitted a tender (“Tender”) on 6th March, 2003 to acquire a commercial building located on Des Voeux Road in Central, Hong Kong (“Acquisition”). The Tender is subject to the acceptance by the vendor who is an independent third party not connected with the Directors, chief executive or substantial shareholders of the Company or any of its subsidiaries or an associate of any of them. Once the Tender is accepted, the Purchaser will be notified and be required to enter into a memorandum of agreement for sale and purchase on or before noon 18th March, 2003.

The Acquisition pursuant to the Tender will constitute a notifiable transaction of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Listing Rules”). If the Acquisition materializes, the Company will comply with the relevant requirements of the Listing Rules. Further announcement will be made as and when required.

The Company is an investment holding company and its subsidiaries are principally engaged in property development and investment, the provision of property information and professional valuation services through websites, manufacture and sale of wireless headsets, hotel investment and the operation and management of leisure cruise liners in the Southeast Asian region.

The Acquisition may or may not proceed, shareholders and public investors are advised to exercise caution when dealing in the shares of the Company.

On behalf of the board of New Century Group Hong Kong Limited Wilson Ng

Chairman

Hong Kong, 6th March, 2003

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

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