Sing Lee Software (Group) Limited — Major Shareholding Notification 2002

Jun 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.

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(Incorporated in Bermuda with limited liability)

SALE OF SHARES

The directors of the Company announce that they have been informed by Goldcorp that Goldcorp has agreed to sell 108,000,000 Shares, representing about 17.9% of the issued share capital of the Company to five individuals. Each of the placee took up shares ranging from 2.0% to 4.3% in the issued share capital of the Company as at the date of this announcement. The aggregate consideration is HK$56,160,000 which is to be paid on Completion. The consideration represents a price per Share of about HK$0.52, which represents a discount of about 16.1% over the closing price of the Shares on 21st June, 2002 of HK$0.62 per Share.

It is intended that there will be no change in the composition of the board of directors after Completion.

The directors of Sing Lee Software (Group) Limited (the “Company”) announce that they have been informed by Goldcorp Industrial Limited (“Goldcorp”) that Goldcorp has agreed to sell 108,000,000 shares of HK$0.01 each in the Company (“Shares”), representing about 17.9% of the issued share capital of the Company to five individuals. Each of the placee took up shares ranging from 2.0% to 4.3% in the issued share capital of the Company as at the date of this announcement. The aggregate consideration is HK$56,160,000 (“Consideration”) which will be paid on completion (“Completion”).

The Consideration represents a price of HK$0.52 per Share, which represents a discount of approximately 16.1% over the closing price of the Shares on 21st June, 2002 of HK$0.62 per Share.

It is intended that there will be no change in the composition of the board of directors after Completion.

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After Completion, Goldcorp will hold 306,000,000 Shares, representing approximately 50.7% of the issued share capital of the Company.

Pursuant to the lock-up undertaking with the Stock Exchange of Hong Kong Limited, Goldcorp undertook not to dispose of any of its shareholdings in the Company during the first six-month period immediately after 5th September 2001, the date of listing of the Company (“New Lock-up Period”). Goldcorp further undertook not to dispose of its shareholdings in the Company during the six-month period after the New Lock-up Period, if such disposal would result in Goldcorp ceasing to hold 35% of the Company.

By Order of the Board Sing Lee Software (Group) Limited Hung Yung Lai Chairman

Hong Kong, 24th June, 2002

This announcement will remain on the “Latest Company Announcements” page on the GEM website for at least 7 days from the date of its publication.

* For identification purpose only

This announcement, for which the directors of the issuer collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the issuer. The directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief:—

• (i) the information contained in this announcement is accurate and complete in all material respects and not misleading;

• (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and

• (iii) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

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