GoFintech Quantum Innovation Limited — Major Shareholding Notification 2002

Apr 4, 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 its reliance upon the whole or 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

Change of substantial shareholder

The Company wishes to announce that completion of the Sale and Purchase Agreement did not take place on 4th April, 2002. Mega Land (as the purchaser for the Sale Shares under the Sale and Purchase Agreement) and Super Drive (as the vendor for the Sale Shares under the Sale and Purchase Agreement) have signed a confirmation letter dated 4th April, 2002 pursuant to which it was agreed between the parties for an extension of the completion of the Sale and Purchase Agreement to a date on or before 2nd July, 2002.

Shareholders are reminded that trading in the Shares on the Stock Exchange was suspended with effect from 9:30 a.m. on 2nd April, 2002 regarding a possible voluntary conditional cash offer by an independent third party for the entire issued share capital of the Company. Trading in the shares will remain suspended until further announcement is made by the Company in relation to any development in this regard.

Reference is made to the announcements dated 18th February, 2002, 28th February, 2002 and 19th March, 2002 (the "Announcements") issued by Pacific Challenge Holdings Limited (the "Company") regarding, inter alia, the change of substantial shareholder of the Company. Capitalized terms used in this announcement have the same meanings ascribed to them in the Announcements unless the context otherwise requires.

The Company wishes to announce that the completion of the Sale and Purchase Agreement did not take place on 4th April, 2002, due to the fact that certain condition has not yet been satisfied. Therefore, Mega Land (as the purchaser for the Sale Shares under the Sale and Purchase Agreement) and Super Drive (as the vendor for the Sale Shares under the Sale and Purchase Agreement) have signed a confirmation letter dated 4th April, 2002 pursuant to which it was agreed between the parties for an extension of the completion of the Sale and Purchase Agreement to a date on or before 2nd July, 2002. The Company has been further informed that, save as the aforementioned extension in the completion date of the Sale and Purchase Agreement, there have not been any other changes in the terms and conditions of the Sale and Purchase Agreement as disclosed in the Announcements. Separate announcements will be made in respect of any latest development on the completion of the Sale and Purchase Agreement.

The Company would like to re-iterate that, as stated in the Announcements, Mega Land intends to maintain the listing status of the Company on the Stock Exchange and currently has no intention to change the existing business of the Company or inject any new businesses or assets to the Group.

Shareholders are reminded that trading in the Shares on the Stock Exchange was suspended with effect from 9:30 a.m. on 2nd April, 2002 regarding a possible voluntary conditional cash offer by an independent third party for the entire issued share capital of the Company. Trading in the shares will remain suspended until further announcement is made by the Company in relation to any development in this regard.

For and on behalf of

Pacific Challenge Holdings Limited

Chan Yim Fong, Teli

Executive Director

* For identification purpose only

Hong Kong, 4th April, 2002

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.

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