hmvod Limited — M&A Activity 2005

Dec 6, 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

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8103)

EXTENTION OF LONG STOP DATE OF THE FIRST ACQUISITION AGREEMENT

The Company and Tsinghua Tongfang have agreed to extend the Long Stop Date to 31 January 2006 (or such later date as may be agreed by the Company and Tsinghua Tongfang). Accordingly, completion of the First Acquisition is expected to take place on or before 3 February 2006, being the third business day after the extended long stop date.

Reference is made to the Company’s circular (the “Circular”) dated 26 August 2005 in relation to, among other things, the First Acquisition. Capitalized terms used herein shall have the same meanings as ascribed in the Circular, unless otherwise defined.

As stated in the Circular, the latest time for all the conditions of the First Acquisition Agreement to be fulfilled or waived (as the case may be) was 30 November 2005 (the “Long Stop Date”).

As more time is required by Tsinghua Tongfang to obtain the legal opinion as required under condition (v) and the necessary consents and approvals of the relevant governmental or regulatory authority as required under condition (vi) of the First Acquisition Agreement, the Company and Tsinghua Tongfang have verbally agreed on 30 November 2005 to extend the Long Stop Date to 31 January 2006 (or such later date as may be agreed by the Company and Tsinghua Tongfang). A formal written agreement was entered into by the Company and Tsinghua Tongfang on 5 December 2005 (being the original expected completion date) to record the verbal understanding. Accordingly, completion of the First Acquisition is expected to take place on or before 3 February 2006, being the third business day after the extended long stop date. Should the First Acquisition cannot be completed by 3 February 2006, further announcement will be made by the Company for Shareholders’ information.

Save for the above, there is no other change to the terms of the First Acquisition Agreement.

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

Hong Kong, 6 December 2005

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

Executive Directors:

Mr. Luk Yat Hung (Chairman)

Ms. Li Wenli

Independent non-executive Directors:

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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