Samsonite Group S.A. — M&A Activity 2005

Oct 27, 2005

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.

RICHE MULTI-MEDIA HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 764)

ANNOUNCEMENT

This announcement is made at the request of the Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The board of directors (the "Directors") of Riche Multi-Media Holdings Limited has noted today's decrease in the price of the shares of the Company and wish to state that the Board is not aware of any reasons for such decrease.

The Directors confirm that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Rule 13.23 of the Listing Rules, neither is the Board aware of any matter discloseable under the general obligation imposed by rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature.

However, the Company wish to update shareholders and investors on its due diligence on Best Winning Group Limited and the vessel named Radisson Diamond (renamed Asia Star) as announced by the Company on 15th April, 2005. The Company has noted from the announcement of Guo Xin Group Limited on 27th September, 2005 that its management agreement with Mr. Benny Ki has terminated due to a change in the ownership of the vessel Omar III and the casino thereon. The Company is enquiring with Leadfirst Limited and Mr. Benny Ki, as part of its due diligence, whether similar events or matters is or will arise in respect of the vessel Asia Star as a result of and/or after completion of the Company's acquisition of Best Winning Group Limited. The Company has not yet received a response to this enquiry.

The Company wish to inform shareholders and investors that completion of the acquisition of Best Winning Group Limited as announced on 15th April, 2005 is conditional upon, inter alia, the Company undertaking and completing a due diligence investigation in respect of Best Winning Group Limited (including but not limited to the affairs, business, assets legality of all business and commercial activities conducted on board Asia Star, encumbrances against Asia Star and any other due diligence relevant to the sale and purchase of the shares of Best Winning Group Limited and the performance under the relevant sub-marketing agreement) liabilities, operations, records, financial position, value of assets, accounts, results, legal and financing structure of Best Winning Group Limited and the Company being satisfied in

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its absolute discretion with the results of such due diligence investigation.

Made by the order of the Board of the Company, the directors of which individually and jointly accept responsibility of the accuracy of this announcement.

By Order of the Board
Riche Multi-Media Holdings Limited
Heung Wah Keung
Chairman

Hong Kong, 27th October, 2005

As at the date of this announcement the executive directors of the Company are Mr. Heung Wah Keung and Ms. Chen Ming Yin, Tiffany and the independent non-executive directors of the Company are Mr. Lien Wai Hung, Mr. Tang Chak Lam, Gilbert and Mr. Ho Wai Chi, Paul.

Please also refer to the published version of this announcement in The Standard.

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