Vision Values Holdings Ltd. — Audit Report / Information 2003

Dec 22, 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.

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ASIA LOGISTICS TECHNOLOGIES LIMITED 亞洲物流科技有限公司[*]

(Incorporated in the Cayman Islands with limited liability)

CHANGE OF AUDITORS

The directors of the Company announces the change of auditors of the Company.

The directors of Asia Logistics Technologies Limited (the “Company”) announces that Messrs. Ernst & Young have resigned as the auditors of the Company with effect from 8th December, 2003 and that pursuant to a board resolution passed on 20th December, 2003, Messrs. PricewaterhouseCoopers have been appointed as the auditors of the Company to fill the casual vacancy created by the resignation of Messrs. Ernst & Young. Messrs. Ernst & Young have confirmed in their notice of resignation that there are no circumstances connected with their resignation which should be brought to the attention of the shareholders and creditors of the Company.

The said change of auditors will bring in line the auditors of the Company and its material associated companies, thus facilitating the audit work and reducing the fees.

By order of the Board Chan Wai Keung Executive Director

Hong Kong, 22nd December, 2003

• For identification only

“Please also refer to the published version of this announcement in China Daily”

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