Matrix Holdings Limited — Major Shareholding Notification 2000

Nov 1, 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

(Incorporated in Bermuda with limited liability)

ANNOUNCEMENT

The 15,000,000 Shares that disposed by the Offeror since 3 October 2000 up to 23 October 2000 which represent 10.36% of the existing issued share capital of the Company, was disposed at an average price of HK$0.30 per Share on the market. As a result, the public float of the Company has now been increased to 25.2% from 14.84%.

Reference is made to the announcements of Matrix Holdings Limited (the “Company”) dated 30 September 2000 and 17 October 2000 in relation to, inter alia, the insufficient public float of the issued share capital of the Company.

The Company has been informed by Suncorp Investments Group Limited (the “Offeror”), being the controlling and major shareholder of the Company, that the Offeror has disposed of 15,000,000 shares of HK$0.10 each in the Company (the “Shares”) on the market through its stock broker to the parties independent of the directors, chief executives and substantial shareholders of the Company or any of its subsidiaries or their respective associates with the view of complying with Rule 8.08 of the Listing Rules in respect of the minimum 25% public float requirement by 30 October 2000. The 15,000,000 Shares that disposed by the Offeror since 3 October 2000 up to 23 October 2000 which represent 10.36% of the existing issued share capital of the Company, was disposed at an average price of HK$0.30 per Share on the market. As a result, the public float of the Company has now been increased to 25.2% from 14.84%.

The table below sets out the shareholding structure of the Company as at 30 October 2000:

	Number of Shares	%
The Offeror	108,242,800	74.8
Public Shareholders	36,477,200	25.2
	144,720,000	100.0

Made by the order of the Board of the Company, the directors of which individually and jointly accept responsibility for the accuracy of the above statement.

By Order of the Board

Matrix Holdings Limited

Cheng Yung Pun

Chairman

Hong Kong, 31 October 2000

Please also refer to the published version of this announcement in the i Mail dated 1/11/2000.