Smart Fish Wealthlink Holdings Limited — M&A Activity 2003

Sep 8, 2003

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.

==> picture [77 x 79] intentionally omitted <==

WINSAN (CHINA) INVESTMENT GROUP COMPANY LIMITED

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

Possible very substantial acquisition involving a change of control in Winsan

Further to the announcements of Winsan dated 2nd May, 2003, 5th June, 2003, 10th July, 2003 and 8th August, 2003 in relation to the proposed Acquisition, the Company is given to understand that the process of obtaining the relevant PRC regulatory approvals by the Vendor is now at an advanced stage.

Trading in the Winsan Shares on the Stock Exchange was suspended with effect from 9:30 a.m. on 20th December, 2002 at the request of the Company. Trading in Winsan Shares will remain suspended until further announcement is made by the Company in connection with the Acquisition.

Reference is made to the announcements of Winsan dated 2nd May, 2003, 5th June, 2003, 10th July, 2003 and 8th August, 2003. Terms used in this Announcement shall have the same meanings as defined in the announcement of Winsan dated 2nd May, 2003 unless otherwise defined.

The Company is given to understand that the process of obtaining the relevant PRC regulatory approvals by the Vendor is now at an advanced stage. The Acquisition will proceed only after Winsan and the Vendor, amongst other, enter into a formal sale and purchase agreement for the Acquisition. No such formal agreement has yet been executed, the Acquisition may or may not proceed. Investors should exercise caution when dealing in Winsan Shares. Further announcement will be made as appropriate of further developments on the proposed Acquisition.

Trading in the Winsan Shares on the Stock Exchange was suspended with effect from 9:30 a.m. on 20th December, 2002 at the request of the Company. Trading in Winsan Shares will remain suspended until further announcement is made by the Company in connection with the Acquisition.

By Order of the Board Lo Wai Chuen, Balendo Company Secretary

Hong Kong, 8th September, 2003

— 1 —

All directors of Winsan jointly and severally accept full responsibility for the accuracy of information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinion expressed in this announcement have been arrived as after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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

— 2 —