hmvod Limited — M&A Activity 2003

May 23, 2003

This announcement is made at the request of The Stock Exchange of Hong Kong Limited（the “Stock Exchange”）. The Stock Exchange takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims and liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The directors of the Company, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading; (2) there are no other matters the omission of which would make any statement in this announcement misleading; and (3) 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.

Systek Information Technology (Holdings) Limited

訊 泰 科 技（控 股）有 限 公 司 *

(incorporated in the Cayman Islands with limited liability)

ANNOUNCEMENT

The board of directors (the “Board”) of Systek Information Technology (Holdings) Limited (the “Company”) has noted the decrease in the price of the shares of the Company today. The Board, like the past few days, wishes to confirm that it is not aware of any reasons for such decrease except for the recent mandatory unconditional cash offer made by Wide Source Group Ltd. to acquire all the issued share capital of the Company (the “Offer”). For the details of the Offer, reference can be made to the composite offer and response document in this regard despatched on 16 May 2003.

Save as disclosed above, the Board also confirms that there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Chapters 19 and 20 of the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (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.

Made by the order of the Board, the directors of which collectively and individually accept responsibility for the accuracy of this announcement.

By Order of the Board

To Cho Kei

Chairman

Hong Kong, 23 May 2003

This announcement will remain on the GEM website at www.hkgem.com on the “Latest Company Announcements” page for at lease 7 days from the day of its posting and on the website of the Company at www.systekit.com.hk.

* for identification purpose only