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

Feb 25, 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 Shares by Best Millennium Limited Best Millennium Limited ("Best Millennium") has placed a total of 500,000,000 existing shares of the Company, representing 23.84% of the issued share capital of the Company, to independent placees on 24th February, 2000. The board of directors (the "Board") of Wah Yik Holdings Company Limited (the "Company") announces that Best Millennium, the holder of 66.75% and 99.15% interests in the existing issued share capital and outstanding warrants of the Company respectively, has successfully placed a total of 500,000,000 existing shares ("Sale Shares") of the Company, representing 23.84% of the existing issued share capital 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 24th February, 2000. The Sale Shares were placed at a price of HK$1.50 per share, representing a discount of approximately 13.29% to the closing price of HK$1.73 as quoted on the Stock Exchange on 24th February, 2000. Upon completion of the aforementioned placement, Best Millennium will be interested in 42.91% of the issued share capital of the Company and none of the placees will be interested in more than 10% of the existing issued share capital of the Company. As at the date of this announcement, Best Millennium has no present intention to make further placement of shares in the Company. By Order of the Board Wah Yik Holdings Company Limited Chan Kwok Keung, Charles Director Hong Kong, 24th February, 2000