Sunac Services Holdings Limited — M&A Activity 2000

Jan 19, 2000

Listed Company Information

SHUN CHEONG<0650> - Announcement Shun Cheong Holdings Limited Announcement The board of directors (the "Board") of Shun Cheong Holdings Limited (the "Company") notes the recent increases in the price of the shares of the Company. The Board wishes to advise that the Company is engaged in a preliminary negotiation with an independent third party which may or may not result in the Company acquiring an investment in an internet-related business (the "Acquisition"). The Board wishes to emphasize that the Acquisition may or may not proceed and to remind shareholders of the Company and potential investors to exercise caution in dealing in the shares of the Company. This announcement is being made at the request of The Stock Exchange of Hong Kong Limited. The Board of the Company has noted the recent increases in the price of the shares of the Company and wishes to state that they are not aware of any reasons for such increase. The Company is currently engaged in a preliminary negotiation with an independent third party which may or may not result in the Company acquiring an investment in a business that is engaged in internet-related services with operations in Hong Kong for providing information concerning trading prices and analysis of securities. No agreement on the conclusion of the Acquisition has been reached at this stage. The Board wishes to emphasize that the Acquisition may or may not proceed and to remind shareholders of the Company and potential investors to exercise caution in dealing in the shares of the Company. Further announcement will be made under the requirements of the Listing Rules if applicable. The Board also confirms that, save as disclosed above, there are no negotiations or agreements relating to intended acquisitions or realisations 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. This announcement is made by the order of the Board of the Company, who individually and jointly accept responsibility for the accuracy of this statement. By order of the Board OU KA CHI Company Secretary Hong Kong, 18th January, 2000