Samsonite Group S.A. — M&A Activity 2001

Jun 13, 2001

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.

OCEAN SHORES GROUP LIMITED

(Incorporated in Bermuda with limited liability)

POSSIBLE DISPOSAL OF SHARES

BY CONTROLLING SHAREHOLDER OF THE COMPANY

The directors of the Company have noted the recent increases in the trading volume of the shares of the Company.

The directors of the Company have been informed by Mr Hung Leung Tak, Jackson, a director who is interested in approximately 38.18 per cent. of the issued share capital of the Company, that he is currently in preliminary negotiations with an independent third party for the sale to such third party of all of the shares in the Company held by him. The proposed disposal, if materialised, will lead to a general offer for the shares of the Company not already held by the prospective purchase pursuant to Rule 26 of the Code on Takeovers and Mergers.

The proposed disposal may or may not proceed. Shareholders and investors should exercise caution in dealing in the shares of the Company.

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 10:00 a.m. on 12 June 2001 pending the issue of this announcement by the Company. Application will be made by the Company for trading in the shares of the Company on the Stock Exchange to be resumed at 10:00 a.m. on 13 June 2001.

This statement is made at the request of The Stock Exchange of Hong Kong Limited.

The directors of Ocean Shores Group Limited (the "Company") have noted the recent increases in the trading volume of the shares of the Company and wish to state that they are not aware of any reasons that might have led to such increases other than the one stated below.

The directors of the Company have been informed by Mr Hung Leung Tak, Jackson, a director who is interested in approximately 38.18 per cent. of the issued share capital of the Company, that he is currently in preliminary negotiations with an independent third party who is not connected with the directors, chief executive, substantial shareholders of the Company or any of its subsidiaries or any of their respective associates for the sale to such third party of all of the shares in the Company held by him. The directors of the Company have been informed that neither the price nor any specific terms of the proposed disposal have been agreed and no agreement has yet been reached. The proposed disposal, if materialised, will lead to a general offer for the shares of the Company not already held by the prospective purchaser pursuant to Rule 26 of the Code on Takeovers and Mergers.

The proposed disposal may or may not proceed and an announcement will be made by the Company as and when appropriate. Shareholders and investors should exercise caution in dealing in the shares of the Company.

Save as disclosed above, the directors of the Company confirm that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under paragraph 3 of the Listing Agreement, neither are the directors of the Company aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature.

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 10:00 a.m. on 12 June 2001 pending the issue of this announcement by the Company. Application will be made by the Company for trading in the shares of the Company on the Stock Exchange to be resumed at 10:00 a.m. on 13 June 2001.

For and on behalf of

Ocean Shores Group Limited

Hung Sun Yuen, Edmond

Director

Hong Kong, 12 June 2001

The directors of Ocean Shores Group Limited jointly and severally accept full responsibility for the accuracy of information contained in this announcement and confirm, having made all reasonable inquiries, that to be 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 the announcement, the omission of which would make any statement in this announcement misleading.

Please also refer to the published version of this announcement in the i-Mail.