Walnut Capital Limited — Net Asset Value 2006

May 11, 2006

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

As at 30 April 2006, the unaudited consolidated net asset value per share of Haywood Investments Limited was approximately HK$0.061.

By order of the Board Haywood Investments Limited Huang Song Executive Director

Hong Kong, 11 May 2006

As at the date of this announcement, the Board is comprised of: Executive directors Mr. Zhou Chao, Mr. Phang Yul Cher Yeow, Ms. Huang Song and Mr. Chu Kin Wang Peleus; Non-executive directors Mr. Fong Chi Hou and Mr. Wang Yao Dong; Independent non-executive directors Mr. Liu Wing Ting Stephen, Ms. Lam Lin Chu and Ms. Tse Po Chu.

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

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