Guoxia Technology Co., Ltd. — Capital/Financing Update 2006

Mar 20, 2006

WING ON TRAVEL (HOLDINGS) LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 1189)

DESPATCH OF CIRCULAR EXPECTED TIMETABLE AND FREE EXCHANGE OF SHARE CERTIFICATES

A circular containing, among others, details of the Placing, Capital Reorganisaton and a notice to convene the special general meeting of the Company has been despatched to the Shareholders on 17 March 2006.

The expected timetable for the implementation of the Capital Reorganisation and details of the free exchange of share certificates are set out below.

Reference is made to the announcement of Wing On Travel (Holdings) Limited dated 1 March 2006 (the “Announcement”) in relation to (i) the Placing Agreement pursuant to which the Placing Agent conditionally agreed to place, on a best effort basis, up to 175,000,000 new Adjusted Shares at a price of HK$0.69 per Adjusted Share to the Placees; and (ii) the Capital Reorganisation involving the Capital Reduction and the Share Subdivision. Terms used herein shall have the same meanings as those defined in the Announcement unless the context herein requires otherwise.

DESPATCH OF CIRCULAR

The Directors announce that a circular containing, among others, details of the Placing, Capital Reorganisaton and a notice to convene the special general meeting of the Company has been despatched to the Shareholders on 17 March 2006.

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EXPECTED TIMETABLE

Set out below is the expected timetable for the implementation of the Capital Reorganisation:

2006

Latest time for lodging form of proxy for the special general meeting ............................................... 10:00 a.m. on Saturday, 8 April Special general meeting .............................................................. 10:00 a.m. on Monday, 10 April Effective date for the Capital Reorganisation .................................................... Tuesday, 11 April Free exchange of existing red share certificates for new blue share certificates commences .................................................................. Tuesday, 11 April Free exchange of existing red share certificates for new blue share certificates ends ............................................................................. Thursday, 11 May

FREE EXCHANGE OF SHARE CERTIFICATES

Subject to the Capital Reorganisation becoming effective on or about Tuesday, 11 April 2006, Shareholders may, during business hours from Tuesday, 11 April 2006, to Thursday, 11 May 2006 (both dates inclusive), submit existing red share certificates for the Existing Shares to the Registrars to exchange, at the expense of the Company, for new blue share certificates for the Adjusted Shares. Thereafter, certificates for the Existing Shares will be accepted for exchange only on payment of a fee of HK$2.50 (or such higher amount as may from time to time be allowed by the Stock Exchange) for each share certificate for the Existing Shares cancelled or each new share certificate issued for the Adjusted Shares, whichever number of certificates cancelled/issued is higher. Nevertheless, certificates for the Existing Shares will continue to be good evidence of legal title and valid for trading, settlement and registration purposes and may be exchanged for certificates for the Adjusted Shares at any time.

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It is expected that new certificates for the Adjusted Share will be available for collection within 10 business days after the submission of the existing share certificates for the Existing Shares to the Registrars for exchange. Unless otherwise instructed, new share certificates will be issued in board lot of 1,000 Adjusted Shares each. New share certificates for the Adjusted Shares will be blue in colour to distinguish them from the existing share certificates for the Existing Shares which are red in colour.

As at the date of this announcement, the Directors are as follows:

Executive Directors: Non-Executive Director: Mr. Yu Kam Kee, Lawrence, Mr. Chan Yeuk Wai B.B.S., M.B.E., J.P. (Chairman) (Honorary Chairman) Mr. Cheung Hon Kit (Managing Director) Dr. Yap, Allan Independent Non-Executive Directors: Mr. Chan Pak Cheung, Natalis Mr. Kwok Ka Lap, Alva Mr. Lui Siu Tsuen, Richard Mr. Sin Chi Fai Ms. Luk Yee Lin, Ellen Mr. Wong King Lam, Joseph

By Order of the Board

Wing On Travel (Holdings) Limited Lui Siu Tsuen, Richard Executive Director

Hong Kong, 17 March 2006

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

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