GoFintech Quantum Innovation Limited — Capital/Financing Update 2007

Nov 1, 2007

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.

NEW TIMES GROUP HOLDINGS LIMITED （新時代集團控股有限公司）[*]

(incorporated in Bermuda with limited liability)

(Stock Code: 166)

ANNOUNCEMENT

The Board wishes to announce that pursuant to the Framework Agreement entered into between the Company and the Vendors on 10 October 2007, the Company has entered into the Intended Contract with the Vendors on 31 October 2007.

Reference is made to the announcement of the Company dated on 25 October 2007 (the “Announcement”) in relation to the entering into of the Framework Agreement between the Company and the Vendors for the acquisition of the entire equity interest of Jade Honest Limited which is interested in an oilfield project in Argentina. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context herein requires otherwise.

The Board wishes to announce that pursuant to the Framework Agreement, the Company has entered into the Intended Contract with the Vendors on 31 October 2007. There are no material differences between the major terms of the Intended Contact and that of the Framework Agreement.

A circular containing further details of the Acquisition, including other matters in compliance with Rule 18.09 of the Listing Rules, will be despatched to the Shareholders as soon as practicable.

By order of the Board New Times Group Holdings Limited Tse On Kin Chairman

Hong Kong, 1 November 2007

As at the date of this announcement, the Board comprises nine Directors, of which four are executive Directors, namely Mr. Tse On Kin, Mr. Wu Jian Feng, Mr. Zhang Cheng Jie and Mr. Li Guoping; two non-executive Directors, namely Mr. Chan Chi Yuen and Mr. Chan Chung Yin; and three independent non-executive Directors, namely Mr. Fung Chi Kin, Mr. Qian Zhi Hui and Mr. Chiu Wai On.

* for identification only