Walnut Capital Limited — Net Asset Value 2003

Feb 13, 2003

Haywood Investments Limited

(Incorporated in the Cayman Islands with limited liability)

As at 31st January 2003, the unaudited consolidated net asset value per share of Haywood Investments Limited was approximately HK$0.37.

Hong Kong, 14th February 2003

Please also refer to the published version of this announcement in The Standard dated 14 February 2003.