Television Broadcasts Limited — M&A Activity 2005

Dec 15, 2005

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 290)

TERMINATION OF VERY SUBSTANTIAL ACQUISITION IN RELATION TO THE ACQUISITION OF 49% INTEREST IN A COMPANY ENGAGED IN THE MANUFACTURING AND DISTRIBUTION OF PHARMACEUTICAL PRODUCTS IN THE PEOPLE’S REPUBLIC OF CHINA

TERMINATION OF PROPOSED ACQUISITION

On 15 December 2005, Country Super, a wholly owned subsidiary of the Company, received a refund in the amount of HK$5,000,000, being the earnest money paid, from the PRC Party.

SUSPENSION OF TRADING OF SHARES

Trading in the shares of the Company was suspended since 9:30 a.m. on 29 September 2005 and will remain suspended until further notice.

TERMINATION OF THE PROPOSED ACQUISITION

Reference is made to the announcements made by the Company dated 2 September, 26 September 2005, 17 October 2005, 8 November 2005 and 28 November 2005 (the “Announcements”) in relation to the Proposed Acquisition, the delay in dispatch of the circular in connection thereof and the termination of the Proposed Acquisition. Unless otherwise defined, terms in this announcement shall have the same meanings as in the Announcements.

On 15 December 2005, Country Super, a wholly owned subsidiary of the Company, received a refund in the amount of HK$5,000,000, being the earnest money paid, from the PRC Party. With the termination of the Share Transfer Agreement and the refund of the earnest money, neither party has any outstanding obligation towards the other party in relation to the Proposed Acquisition.

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SUSPENSION OF TRADING OF SHARES

Trading in the shares of the Company was suspended since 9:30 a.m. on 29 September 2005 and will remain suspended until further notice.

As at the date of this announcement, the Board comprises:

Executive Directors

Mr. Szeto Chak Wah, Michael (alias Seto Chak Wah 司徒澤樺 )

Mr. Lai Man Leung

Mr. Zhao Lin

Independent Non-executive Directors

Mr. Tsoi Wai Kwong

Ms. Law Mun Yee

By Order of the Board

China Conservational Power Holdings Limited 司徒澤樺 Chairman

Hong Kong, 15 December 2005

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

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