hmvod Limited — Capital/Financing Update 2005

Jul 15, 2005

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.

**Tai Shing International (Holdings) Limited ***

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8103)

ANNOUNCEMENT

We have noted the recent increase in the price of the shares of the Company and wish to state that we are not aware of any reasons for such increase.

However, the Company is having a preliminary negotiation with a connected person (as defined under the GEM Listing Rules) of the Company for the possible acquisition of a company principally engaged in information technology related business which, if materializes, will constitute a notifiable and connected transaction for the Company. The negotiation is still undergoing and no formal agreement has been reached.

Shareholders and investors are advised to exercise caution when dealing in the shares of the Company as the negotiation may or may not proceed further.

This announcement is made at the request of The Stock Exchange of Hong Kong Limited.

We have noted the recent increase in the price of the shares of the Company and wish to state that we are not aware of any reasons for such increase.

However, we wish to inform that the Company is having a preliminary negotiation with a connected person (as defined under the GEM Listing Rules) of the Company for the possible acquisition of a company principally engaged in information technology related business which, if materializes, will constitute a notifiable and connected transaction for the Company. The negotiation is still undergoing and no formal agreement has been reached, therefore, this transaction may or may not proceed. A further announcement will be issued by the Company immediately after an agreement has been signed in accordance with the GEM Listing Rules.

Save for the aforesaid, we confirm that there are no other negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Chapters 19 to 20 of the GEM Listing Rules, neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 17.10 of the GEM Listing Rules, which is or may be of a price-sensitive nature.

Shareholders and investors are advised to exercise caution when dealing in the shares of the Company as the negotiation may or may not proceed further.

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Made by the order of the Board of Tai Shing International (Holdings) Limited, the directors of which individually and jointly accept responsibility for the accuracy of this announcement.

By order of the Board Tai Shing International (Holdings) Limited Luk Yat Hung Chairman

Hong Kong, 15 July 2005

As at the date of announcement, the Board comprises the following directors: Executive Director:

Mr. Luk Yat Hung (Chairman)

Ms. Li Wenli

Independent Non-executive Director:

Mr. Chung Shui Ming, Timpson Professor Ip Ho Shing, Horace Mr. Yan Yonghong Mr. Peng Lijun

This announcement will remain on the “Latest Company Announcement” page of the GEM website for at least 7 days from its date of publication.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and (iii) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

• for identification purpose only

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