Smart Fish Wealthlink Holdings Limited — M&A Activity 2002

Dec 17, 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.

WINSAN (CHINA) INVESTMENT GROUP COMPANY LIMITED

運盛(中國)投資集團有限公司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

ANNOUNCEMENT

This announcement is made in connection with a recent unusual movements in the price and trading volume of the shares of the Company.

The Company is now in a preliminary negotiation with various independent third parties which might lead to a possible acquisition or disposal by the Company. The possible transaction may or may not proceed. Investors should exercise caution when dealing in the shares of the Company.

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

The directors ("Directors") of Winsan (China) Investment Group Company Limited (the "Company") has noted the recent unusual movements in the price and trading volume of the shares of the Company and wishes to state that the Company is not aware of any reasons for such unusual movements except for the following event.

The Company is now in a preliminary negotiation with various independent third parties which might lead to a possible acquisition or disposal by the Company. Terms (including the subject matter, consideration and the manner of payment) of the possible transaction are yet to be finalised. As the Company currently has a negligible net tangible asset value, the possible transaction may, if it proceeds and depending on the size of the transaction, constitute a notifiable transaction of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). In such circumstances, the Company is required to comply with the relevant requirements under the Listing Rules in respect of such transactions.

The possible transaction may or may not proceed. Investors should exercise caution when dealing in the shares of the Company. Further announcement will be made as appropriate in respect of developments on the possible transaction.

Save as disclosed above, the Directors confirm that there are no negotiations or agreements relating to intended acquisitions or realisation which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board 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.

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Made by the order of the board of directors of the Company, the directors of which individually and jointly accept responsibility for the accuracy of the foregoing statement.

By Order of the Board Winsan (China) Investment Group Company Limited Lo Wai Chuen Company Secretary

Hong Kong, 17 December, 2002

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

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