Timeless Resources Holdings Limited — Director's Dealing 2005

Mar 31, 2005

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

Timeless Software Limited

(incorporated in Hong Kong with limited liability)

(Stock code: 8028)

ANNOUNCEMENT

We have noted today’s increase in the price of the shares of the Company and wish to state that we are not aware of any reasons for such increase.

We note that Mr. Cheng Kin Kwan, the Chairman & Chief Executive Officer of the Company, has purchased 908,000 shares and 40,000 shares of the Company, which represent approximately 0.09% of the issued share capital of the Company, at HK$0.105 per share and HK$0.103 per share respectively via The Stock Exchange of Hong Kong Limited today.

We confirm that, save for the announcement relating to the proposed sale of a property by way of public tender dated 29 March 2005 and the above-mentioned matter, there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under Chapters 19 to 20 of the GEM Listing Rules, neither is the Board aware of any matter discloseable under the general obligation imposed by rule 17.10 of the GEM Listing Rules, which is or may be of a price-sensitive nature.

Made by the order of the Board of Timeless Software Limited, the directors of which collectively and individually accept responsibility for the accuracy of this announcement.

By order of the Board Cheng Kin Kwan Chairman & Chief Executive Officer

Hong Kong, 31 March 2005

As at the date of this announcement, the executive directors are Mr. Cheng Kin Kwan, Mr. Chung Yiu Fai, Mr. Law Kwai Lam, Ms. Leung Mei Sheung, Eliza, Mr. Pun Chung Sang, Trevor, Ms. So Mi Ling, Winnie, Ms. Wong Wai Ping, Mandy and Ms. Zheng Ying Yu; and the independent non-executive directors are Mr. Chong Siu Pui, Mr. Ng Kwok Tung and Ms. Tsang Wai Chun, Marianna.

This announcement will remain on the GEM website (www.hkgem.com) on the “Latest Company Announcements” page for at least 7 days from the day of its posting and on the Company’s website (www.timeless.com.hk).

— 1 —