Vision Values Holdings Ltd. — Capital/Financing Update 2004

Sep 7, 2004

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NEW WORLD MOBILE HOLDINGS LIMITED 新世界移動控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 862)

DISTRIBUTION IN SPECIE OF THE ISSUED SHARES OF NEW WORLD CYBERBASE LIMITED (Stock Code: 276) HELD BY

NEW WORLD MOBILE HOLDINGS LIMITED (Stock Code: 862) TO THE SHAREHOLDERS

The Board is pleased to announce that the Distribution will be made on or around 24 September 2004. As a result of the ALT Share Consolidation and the consolidation of 20 NWCB Shares into one Consolidated NWCB Share, the basis of the Distribution will be adjusted to 213 Consolidated NWCB Shares of HK$0.02 each for every 100 consolidated shares of the Company of HK$1.00 each.

Reference is made to the circular (the “Circular”) issued by New World Mobile Holdings Limited (formerly known as “Asia Logistics Technologies Limited”) (the “Company”) dated 2 June 2004. Reference is also made to the announcement issued by the Company dated 6 July 2004 and the announcement issued by New World CyberBase Limited (“NWCB”) dated 23 August 2004. Terms used herein shall have the same meanings as those defined in the Circular unless the context requires otherwise.

DISTRIBUTION IN SPECIE OF THE NWCB SHARES BY THE COMPANY

As referred to in the announcement issued by the Company dated 6 July 2004, the despatch date of the certificates of the NWCB Shares to those shareholders of the Company entitled to the distribution of NWCB Shares (the “Distribution”) had been delayed. The board of directors (the “Board”) of the Company is pleased to announce that the Distribution will be made on or around 24 September 2004.

As a result of the ALT Share Consolidation and the consolidation of 20 NWCB Shares into one consolidated NWCB Share of HK$0.02 each (“Consolidated NWCB Share(s)”), which became effective on 7 July 2004 and 23 August 2004 respectively, the basis of the Distribution will accordingly be adjusted to 213 Consolidated NWCB Shares of HK$0.02 each for every 100 consolidated shares of the Company of HK$1.00 each.

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Fractions of Consolidated NWCB Shares arising from the Distribution will not be distributed to the shareholders of the Company but will be aggregated and, if possible, sold for the benefit of the Company. Definitive share certificates of the Consolidated NWCB Shares will be despatched to the shareholders of the Company who are entitled to the Distribution by ordinary post, at their own risk, on or around 24 September 2004.

By Order of the Board Ho Pui Sin Company Secretary

Hong Kong, 6 September 2004

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

Executive Directors:

Dr. Cheng Kar Shun, Henry (Chairman) , Doo Wai Hoi, William, JP (Vice Chairman) , Dr. Wai Fung Man, Norman (Chief Executive Officer) , To Hin Tsun, Gerald and Chow Yu Chun, Alexander

Non-executive Directors:

Lo Lin Shing, Simon and Ho Hau Chong, Norman

Independent Non-executive Directors:

Wei Chi Kuan, Kenny, Kwong Che Keung, Gordon and Cheng Ming Fun, Paul, JP

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

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