GoFintech Quantum Innovation Limited — M&A Activity 2002

Apr 29, 2002

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.

(太平洋興業集團有限公司)*

(incorporated in Bermuda with limited liability)

ANNOUNCEMENT

Independent Financial Adviser to Pacific Challenge Holdings Limited

Anglo Chinese Corporate Finance, Limited

SUMMARY

On 24th April, 2002, the board of Pacific Challenge Holdings Limited received an offer by TingKong-RexCapital Securities International Limited , on behalf of Kandy Profits Limited , to acquire all of the issued share capital of the company at an offer price of HK$0.65 per share. Kandy also undertakes to acquire all outstanding options at a price of HK$0.33 per option on the condition that the offer becomes unconditional.

The board is discussing the terms of the offer made by Kandy with the appointed independent financial adviser to the board, Anglo Chinese Corporate Finance, Limited. Shareholders are strongly advised to take no action in respect of the offer until they receive the advice from the board and its advice from Anglo Chinese.

In the meantime, shareholders are urged to exercise extreme caution in dealing in the shares of the company.

Trading in the shares of the company on the Stock Exchange was suspended at the request of the company with effect from 9:30 a.m. on 25th April, 2002 pending release of this announcement. Application has been made by the company for the resumption of trading in the shares of the company with effect from 9:30 a.m. on 29th April, 2002. Further announcement will be made on any further development of the offer.

On 24th April, 2002, the board of Pacific Challenge Holdings Limited (the "company") (the "board") received an offer from TingKong-RexCapital Securities International Limited ("RexCapital"), acting on behalf of Kandy Profits Limited ("Kandy"), to acquire all of the issued share capital of the company at an offer price of HK$0.65 per share. Kandy also undertakes to acquire all outstanding options at a price of HK$0.33 per option on the condition that the offer becomes unconditional.

Shareholders and investors are asked to refer to the announcement by Kandy dated 25th April, 2002 which gives details of the offer made by Kandy.

The board is discussing the terms of the offer made by Kandy with the appointed independent financial adviser to the board, Anglo Chinese Corporate Finance, Limited ("Anglo Chinese"). Shareholders are strongly advised to take no action in respect of the offer until they receive the advice from the board and its advice from Anglo Chinese.

The board has noted the recent increases in the price of the shares in the company on 24th April, 2002 and wish to state that, apart from the two offers for the shares of the company received from Ontime Capital Investment Limited ("Ontime") and Kandy, the board is not aware of any reasons for such increases. The terms and conditions of the conditional voluntary cash offer by Ontime for the entire issued share capital of the company are set out and referred to in Ontime's announcement dated 18th April, 2002. The board also confirms that there are no other negotiations or agreements relating to intended acquisitions or realizations which are discloseable under paragraph 3 of the Listing Agreement, neither is the board 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.

Further announcement will be made on any further development of the offer.

Trading in the shares of the company on the Stock Exchange was suspended at the request of the company with effect from 9:30 a.m. on 25th April, 2002 pending release of this announcement. Application has been made by the company for the resumption of trading in the shares of the company with effect from 9:30 a.m. on 29th April, 2002.

In the meantime, shareholders are urged to exercise extreme caution in dealing in the shares of the company.

For and on behalf of

Pacific Challenge Holdings Limited

Chan Yim Fong, Teli

Executive Director

26th April, 2002, Hong Kong

The directors of Pacific Challenge Holdings Limited jointly and severally accept full responsibility for the accuracy of the information contained in this announcement 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, the omission of which would make any statement in this announcement misleading.

* for identification purpose only

"Please also refer to the published version of this announcement in the China Daily "