Silkwave Inc — Share Issue/Capital Change 2002

Jan 24, 2002

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.

	SOUTH CHINA HOLDINGS LIMITED (incorporated in the Cayman Islands with limited liability)

CHANGE OF BOOK CLOSURE DATE

Reference was made to the announcement of South China Holdings Limited (the “Company”) dated 21st January, 2002 in relation to the distribution in specie of Shares in Jinchang Pharmaceutical Holdings Limited (“the Announcement”).

Defined terms and expressions used herein shall have the same meanings as those in the Announcement unless otherwise stated.

The board of directors of the Company wishes to advise that the date for the closure of the register of members of the Company has been changed from 22 February, 2002 to 8 February, 2002 for the purpose of determining the entitlements of the Shareholders to Jinchang Shares under the Distribution.

In order to qualify for the Distribution, all transfers accompanied by the relevant Share certificates must be lodged with the Hong Kong branch registrar of the Company, Standard Registrars Limited, at 5th Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong by not later than 4:00 p.m. on 7 February, 2002.

The tentative timetable for the Distribution will be as follows:

2002

Last day of dealings in Shares cum entitlement
to the Jinchang Shares pursuant to the Distribution …………………………………... 5 February

Commencement of dealings in Shares on
an ex-entitlement basis …………………………………..…...……………………….. 6 February

Latest time for lodging transfer of the Shares
in order to qualify for the Distribution ………………………………….. 4:00 p.m. on 7 February

Register of members closes …………………………………………………………… 8 February

Record Date ………………………………………..………………………………….. 8 February

Apart from the above, there is no change in the content of the Announcement.

By order of the Board
Yuen Kam Tim, FrancisCompany SecretaryHong Kong, 23rd January, 2002

Copy of this announcement can be obtained from our website www.sctrade.com

Please also refer to the published version of this announcement in the South China Morning Post.