Hung Hing Printing Group Limited — M&A Activity 2000

Jan 3, 2000

Listed Company Information

CIL HOLDINGS<0479> & NOBLE LINK HOLD<0254>-Joint Announcement The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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. CIL HOLDINGS LIMITED ("CIL") (Incorporated in Bermuda with limited liability) NOBLE LINK HOLDINGS LIMITED ("Noble Link") (Incorporated in Hong Kong with limited liability) Delay in completion of acquisition of Noble Link Shares SUMMARY The directors referred to the agreement ("Agreement") dated 23rd November, 1998 entered into between Ambang Jaya Sdn. Bhd. ("Ambang"), Angkasa Marketing (Singapore) Pte. Ltd. ("Angkasa"), Amsteel Corporation Berhad ("Amsteel") (together with Ambang and Angkasa are known as the "Amsteel Parties"), Lucky Choice Assets Limited ("Lucky Choice") and CIL (together with Lucky Choice known as the "CIL Parties") in relation to the sale and purchase of shares in Noble Link, details of which were referred to in a joint press announcement by CIL and Noble Link dated 2nd December, 1998 ("Announcement") and the composite offer document from CIL and Noble Link dated 22nd January, 1999 ("Offer Document"). Pursuant to the terms of the agreement, CIL agreed to purchase 48,323,000 shares ("Remaining Shares") in Noble Link representing 23% of the existing issued share capital of Noble Link, at HK$2.335 per share on 30th December, 1999 ("Acquisition"). The Amsteel Parties and the CIL Parties have agreed to extend the completion date of the Acquisition till 7th January, 2000. The directors of Noble Link and CIL refer to the Announcement and Offer Document regarding details of the terms of the Agreement. Pursuant to the Agreement, Lucky Choice agreed to acquire from Ambang and Angkasa the Remaining Shares, representing 23% of the existing issued share capital of Noble Link, at HK$2.335 per share which Acquisition is due to be completed today. The Amsteel Parties and the CIL Parties have agreed to extend the completion date for the Acquisition till 7th January, 2000 because of availability of the parties involved during the intervening holiday period. As at the date hereof, CIL, through its wholly-owned subsidiary Lucky Choice, holds approximately 45.48% of the issued share capital of Noble Link. CIL and Noble Link will issue a further announcement on further developments relating to the remaining Acquisition as and when appropriate. By Order of the Board CIL Holdings Limited Joseph Szeto Chairman and Managing Director By Order of the Board Noble Link Holdings Limited Li Zhao Director Hong Kong, 30th December, 1999 The directors of CIL jointly and severally accept full responsibility for the accuracy of the information contained in this announcement insofar as it relates to CIL and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading. The directors of Noble Link jointly and severally accept full responsibility for the accuracy of the information contained in this announcement insofar as it relates to Noble Link and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.