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Walnut Capital Limited Net Asset Value 2004

Jan 14, 2004

Net Asset Value

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(Incorporated in the Cayman Islands with limited liability)

As at 31st December 2003, the unaudited consolidated net asset value per share of Haywood Investments Limited was approximately HK$0.15.

Hong Kong, 15th January 2004

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