Vision Values Holdings Ltd. — Share Issue/Capital Change 2000

Apr 7, 2000

Listed Company Information

WAH YIK HOLD<0862> - Announcement 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. WAH YIK HOLDINGS COMPANY LIMITED (incorporated in the Cayman Islands with limited liability) PLACING OF EXISTING WARRANTS BY BEST MILLENNIUM LIMITED ("BEST MILLENNIUM") Best Millennium has placed a total of 80,000,000 existing warrants of the Company, representing approximately 29.40% of the total outstanding warrants of the Company, to independent placees on 6th April, 2000. Further to the joint announcement made by Best Millennium and Wah Yik Holdings Company Limited (the "Company") dated 19th February, 2000 and the announcement made by the Company dated 24th March, 2000, the board of directors (the "Board") of the Company announces that Best Millennium, being the holder of 270,000,000 warrants of the Company, has successfully placed a total 80,000,000 warrants ("Placing Warrants") of the Company, representing approximately 29.40% of the total outstanding warrants of the Company, to independent placees not connected with the directors, chief executive or substantial shareholders of the Company, its subsidiaries or their respective associates (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange")) through Tai Fook Securities Company Limited on 6th April, 2000. The Placing Warrants were placed at a price of HK$0.45 per unit of warrants, representing a discount of 25% to the closing price of HK$0.60 as quoted on the Stock Exchange on 6th April, 2000. Immediately after the completion of the aforementioned placement, Best Millennium will be interested in approximately 69.81% of the total outstanding warrants of the Company and approximately 30.19% of the outstanding warrants of the Company will be held in public hands. By Order of the Board WAH YIK HOLDINGS COMPANY LIMITED Chan Kwok Keung, Charles Director Hong Kong, 6th April, 2000