IGG Inc — Capital/Financing Update 2007

Jun 26, 2007

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ORIENTAL WATCH HOLDINGS LIMITED

(incorporated in Bermuda with limited liability)

(Stock Code: 398)

COMPLETION OF PRIVATE PLACING OF NON–LISTED WARRANTS

Financial Adviser to the Company

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INCU Corporate Finance Limited

Reference is made to the announcement of the Company dated 11 June 2007 (the “ Announcement ”) in relation to the Warrant Placing. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

The Board is pleased to announce that since all the conditions of the Warrants Placing have been fulfilled, completion of the Warrant Placing took place on 26 June 2007 in accordance with the terms of the Warrant Placing Agreements. An aggregate of 55,000,0000 Warrants were issued to the Subscribers at the Warrant Issue Price of HK$0.02 per Warrant.

By order of the Board Oriental Watch Holdings Limited Yeung Ming Biu Chairman

Hong Kong, 26 June 2007

As at the date of this announcement, the executive Directors are Mr. Yeung Ming Biu, Mr. Yeung Him Kit, Dennis, Mr. Fung Kwong Yiu, Ms. Yeung Man Yee, Shirley, Mr. Lam Hing Lun, Alain and Mr. Choi Kwok Yum and the independent non–executive Directors are Dr. Sun Ping Hsu, Samson, Dr. Li Sau Hung, Eddy and Mr. So Kai Lau, Peter.