Greenheart Group Limited — Capital/Financing Update 2003

Sep 29, 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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(Incorporated in Bermuda with limited liability)

Announcement of a 50.23% subsidiary – OMNITECH HOLDINGS LIMITED, Australia

This is a reproduction of the announcement of Omnitech Holdings Limited, a 50.23% subsidiary of Omnicorp Limited and the shares of which are listed on the Australian Stock Exchange (“ASE”). The following information was announced by Omnitech Holdings Limited to the public in Australia via the ASE website at 19:40 (Australian time) on 26 September 2003:

• “To: The Company Announcements Office Australian Stock Exchange Limited

• Fm: Omnitech Holdings Limited ARBN 077 559 525

• (Incorporated in Bermuda with Limited Liability)

For Market Release

Notice of Expiry of Options

The Board of Directors of Omnitech Holdings Limited (the “Company”) wishes to remind holders of the existing outstanding unquoted options carrying rights to subscribe for new ordinary shares in the capital of the Company (“Shares”) at the subscription price of A$0.022 per share on or before 31 October 2003 (“Options”) that in accordance with the terms and conditions of the options, the subscription rights attached to the options will expire immediately after the close of business on Friday 31 October 2003 and thereafter, any subscription rights attaching to the options which have not been exercised will lapse and the options will cease to be valid for any purpose.

Registered holders of the options who wish to exercise in whole or in part of any of the subscription rights attaching to the options must lodge the following with the Company’s Share Registry, Computershare Investor Services Pty Limited of GPO Box 7045, Sydney NSW 1115 not later than 5:00 p.m. AEST on Friday, 31 October 2003.

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• i) the relevant options certificate(s);

• ii) the duly completed and signed notice(s) of exercise of options; and

• iii) remittance for the relevant subscription monies.

Notice(s) of exercise of Options and the relevant documents lodged with the Company later than 5:00 p.m. AEST on Friday, 31 October 2003 will not be accepted.

Shares arising on the exercise of any subscription rights attaching to the options will be allotted and issued normally within 8 days after the relevant subscription date and will rank pari passu in all respects with the then existing issued shares of the Company.

The closing price of the shares of Omnitech Holdings Limited (Stock Code: 6099) as quoted on the Australian Stock Exchange on 25 September 2003 (being the last trading day prior to this announcement) was A$0.031.

For and on behalf of Omnitech Holdings Limited L E Avery Company Secretary 26 September 2003”

“Dear Optionholder,

Re: Notice of Expiring of Options – Last Day – Friday 31 October 2003

I am pleased to attach a copy of the Company’s notification letter regarding the expiry of options on 31 October 2003. Thanks to your support to the Rights Issue carried out by the Company in September 2001, your outstanding options entitled you to subscribe for new shares in the capital of the Company at the subscription price of A$0.022 per share on or before 31 October 2003.

As noted in the Company’s Interim Report for the half year ended 30 June 2003, Omnitech Group has achieved a profit of A$694,000, compared with a loss of A$1,523,000 for the corresponding period last year. The market has responded favourably to the company’s turnaround performance and share price peaked at A$0.05 at the end of August 2003. The closing price of the Company’s share on the Stock Exchange on 25 September 2003 was A$0.031.

The improvement in the interim results was attributable to our effective cost-control measures and restructuring exercises to trim down administrative expenses. Against a backdrop of global sluggish economy, Omnitech Group’s two main division: VFJ Technology Holdings Limited (“VFJ”), the contactless smart card technology division; and Lik Hang Holdings Limited (“Lik Hang”), the electronic components division, have been able to maintain growth during the interim period.

After substantial R&D investment in smart card technology during the past five years, VFJ has evolved to become one of the world’s leading smart card solutions providers. Our smart card project for line 13 of the Beijing has progressed smoothly and it will officially commence operation on 15 November 2003. Lik Hang remained as our key revenue driver and we have successfully moved into a new factory to expand our production capacitates by 50%.

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We are excited on the significant business opportunities in the PRC and strive to become the gateway to one-stop solution in the PRC electronic market. The upgrade of the PRC mass transit infrastructure will move in full speed to further span across from Beijing to other key cities. VFJ is committed to offering first-of-its-kind smart card technology in the PRC to embrace these opportunities.

With the PRC entry into WTO, the market will accelerate further to become the most important manufacturing base for electronic products. Lik Hang is ready to move up on the value chain and expand into high-margin modular products which create more values to the customers. We are committed to this strategy and its potential reward both in terms of immediate profit and more importantly future sustainable growth in the years to come.

On 25 September 2003, the Company was advised by its controlling shareholder, Omnicorp Limited, a public listed company in Hong Kong, that they will exercise their full subscribing rights under their outstanding option entitlements. The management are very excited by the unwavering support and will be endeavouring to deliver an even better performance in the second half of the financial year.

At this stage the Company will be applying the funds received on subscription to partly reduce intercompany loans and for working capital needs towards future growth of Omnitech’s two business units – Lik Hang and VFJ Technology.

Thank you for your continued support of the Company.

Yours truly, Peter Au Managing Director 26 September 2003”

By Order of the Board OMNICORP LIMITED Ng Ka Yuen, Cecilia Company Secretary

Hong Kong, 29 September 2003

• for identification purpose only

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

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