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

Mar 27, 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) Public Float of Warrants The board of directors of Wah Yik Holdings Company Limited announces that 30,000,000 units of Warrants were disposed by Best Millennium Limited on 1st March, 2000. Best Millennium is currently holding 270,000,000 units of warrants or representing approximately 89.4% of the outstanding warrants of the Company. Best Millennium undertakes to the Stock Exchange to take appropriate steps to ensure not less than 25 % of the Company's outstanding warrants is held by the public within 2 weeks from the date of this announcement. Reference is made to the joint announcement made by Best Millennium Limited ("Best Millennium") and Wah Yik Holdings Company Limited (the "Company") dated 19th February, 2000 ("Previous Announcement"). Terms used in this announcement have the same meanings as those defined in the Previous Announcement unless the context otherwise requires. As stated in the Previous Announcement, Best Millennium was interested in 300,000,000 units of Warrants, representing approximately 99.1 % of the outstanding warrants of the Company immediately after the closing of the Offers. As such, only approximately 0.9% of the outstanding warrants of the Company are held in public hands. Best Millennium has undertaken to the Stock Exchange to appoint a placing agent, which will procure within one month from the date of the Previous Announcement the placing of not less than 24.1 % of the outstanding warrants of the Company to independent investors not connected with the directors, chief executive or substantial shareholders of the Company, its subsidiaries or their respective associates (as defined under the Listing Rules) or any person acting in concert with Best Millennium, to ensure that not less than 25 % of the Company's outstanding warrants is held by the public. Best Millennium has advised the Company that 30,000,000 units of Warrants were disposed of on 1st March, 2000. As at the date of this announcement, Best Millennium is interested in 270,000,000 units of Warrants, representing approximately 89.4% of the outstanding warrants of the Company. Best Millennium undertakes to the Stock Exchange to take appropriate steps to ensure not less than 25 % of the Company's outstanding warrants is held by the public within 2 weeks from the date of this announcement. Further announcement will be made with regard to the aforementioned matter. The Stock Exchange has stated that it will closely monitor trading in the Warrants. If the Stock Exchange believes that a false market exists or may exist in the Warrants, or that there are insufficient Warrants in public hands to maintain an orderly market, then it will consider exercising its discretion to suspend trading in the Warrants. In the meantime investors shall exercise extreme caution in dealing in the Warrants. By Order of the Board Wah Yik Holdings Company Limited Chan Kwok Keung, Charles Director Hong Kong, 24th March, 2000