Matrix Holdings Limited — M&A Activity 2000

Sep 4, 2000

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.

Matrix Holdings Limited	SUNCORP INVESTMENTS GROUP LIMITED
(Incorporated in Bermuda with limited liability)	(Incorporated in the British Virgin Islands with limited liability)

JOINT ANNOUNCEMENT

DELAY IN DESPATCH OF THE COMPOSITE OFFER DOCUMENT

The despatch of the Composite Offer Document to the shareholders of the Company will be delayed from 1 September 2000 to no later than 8 September 2000.

Unless otherwise stated, terms used in this announcement shall have the same meanings as those defined in the joint announcement of the Company and Suncorp dated 3 July 2000 relating to the possible unconditional cash offer by Suncorp for all the issued Shares other than Shares already owned or agreed to be acquired by Suncorp or parties acting in concert with it.

Suncorp hereby announces that Celestial Capital Limited has been appointed as its financial advisor to replace Deloitte & Touche. Accordingly, Celestial Capital Limited will make the Offer for and on behalf of Suncorp. Celestial Capital Limited is satisfied that sufficient resources are available to Suncorp to satisfy acceptances of the Offer in full.

Pursuant to the consent granted by the Executive Director of the Corporate Finance Division of the Securities and Futures Commission or any of his delegates in accordance with Note 2 to Rule 8.2 of the Takeovers Code, an offer document is required to be despatched by Suncorp to the shareholders of the Company within 7 days after the Completion. It was announced by the Company and Suncorp that the Completion took place on 25 August 2000 and a composite offer document (the "Composite Offer Document") together with an acceptance and transfer form would be despatched to the shareholders of the Company on or before 1 September 2000. As the Company requires more time to finalise the financial information of the Group to be contained in the Composite Offer Document, the despatch of the Composite Offer Document will be delayed. An application has been made to the Securities and Futures Commission for an extension of time for the despatch of the Composite Offer Document to a date no later than 8 September 2000.

By the Order of the Board	By the Order of the Board
Matrix Holdings Limited	Suncorp Investments Group Limited
Wong Chak Hung, James	Cheng Yung Pun
Chairman	Director

Hong Kong, 1 September 2000

The directors of the Company jointly and severally accept full responsibility for the accuracy of information (other than that relating to Suncorp) contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, the opinions expressed in this announcement have been arrived at after due and careful consideration and that there are no other facts not contained in this announcement, the omission of which would make any statement in the announcement misleading.

The sole director of Suncorp accepts full responsibility for the accuracy of information contained in this announcement (other than that relating to the Group) and confirms, having made all reasonable inquiries, that to the best of his knowledge, the opinions expressed in this announcement have been arrived at after due and careful consideration and that there are no other facts not contained in this announcement, the omission of which would make any statement in the announcement misleading.