Walnut Capital Limited — Net Asset Value 2004

Nov 12, 2004

HAYWOOD INVESTMENTS LIMITED

(Incorporated in the Cayman Islands with limited liability) (Stock code: 905)

As at 31st October, 2004, the unaudited consolidated net asset value per share of Haywood Investments Limited was approximately HK$0.077.

Hong Kong, 12th November, 2004

As at the date of this announcement, the Board is comprised of Mr. Wong Fong Kim, Mr. Tai Ah Lam, Michael, Mr. Phang Yui Cher Yeow and Mr. Tham Ming Yang as executive directors; Dr. Wong Yun Kuen, Edward, Mr. Hsieh Dominick, Mr. Chang Kin Man and Mr. Wong Wing Hang, Henry as independent non-executive directors.

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