GoFintech Quantum Innovation Limited — M&A Activity 2003

Oct 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.

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

(incorporated in Bermuda with limited liability)

APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

The Board announce the appointment of Altus Capital Limited as the independent financial adviser to the independent board committee of the Company in respect of an unconditional voluntary cash offer by Kingston Securities Limited on behalf of Victory Rider Limited to acquire all the issued share capital of the Company (other than those shares already owned by Victory Rider Limited or parties acting in concert with it).

Reference is made to the joint announcement made jointly by the Company and the Offeror dated 26 September 2003 in relation to the Offer (the “Joint Announcement”).

Capitalized terms used in this announcement have the same meanings ascribed to them in the Joint Announcement unless the context otherwise requires.

The Board announce that Altus Capital Limited has been appointed as the independent financial adviser to the independent board committee of the Company in respect of the Offer.

By order of the board of New Times Group Holdings Limited Cheong Tin Yau Chairman

Hong Kong, 6 October 2003

The Board jointly and severally accept fully responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, the 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 China Daily”.