Silkwave Inc — Board/Management Information 2006

Feb 27, 2006

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South China Holdings Limited (Incorporated in the Cayman Islands with limited liability) (Stock Code: 265)

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South China Industries Limited (Incorporated in the Cayman Islands with limited liability) (Stock Code: 413)

OVERSEAS REGULATORY ANNOUNCEMENT

The following announcement was issued on 24 February 2006 by Wah Shing International Holdings Limited (“Wah Shing”). Wah Shing is a subsidiary of South China Industries Limited and an indirect subsidiary of South China Holdings Limited. The shares of Wah Shing are currently listed on Singapore Exchange Securities Trading Limited.

WAH SHING INTERNATIONAL HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

�? �? �? ?????�? �? �? ?????�? �? �? ?????�? �? �? ????? ????�?�???�???�????????�?�???�???�????????�?�???�???�????????�?�???�???�???? ______________________________________________________________________________________ The Board of Directors of Wah Shing International Holdings Limited ("the Company") wishes to announce that Ms. Wong Yoen Har has been appointed Secretary of the Company in place of Ms. Lynn Wan Tiew Leng who has resigned as Secretary with effect from 24 February 2006. By Order of the Board � ?!�?"� ?!�?"� ?!�?"� ?!�?" �#"�#"�#"�#" �???�$??�???�$??�???�$??�???�$?? �???"�???"�???"�???" %?�! ?%'&?"%?�! ?%'&?"%?�! ?%'&?"%?�! ?%'&?" �!�(? %)"�!�(? %)"�!�(? %)"�!�(? %)" ??"??"??"??" ��?&?��?&?��?&?��?& 24 February 2006