Wang On Group Limited — Capital/Financing Update 2010

Feb 24, 2010

IMPORTANT

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----- Start of picture text ----- Excess ApplicationForm Number----- End of picture text -----

THIS FORM IS VALUABLE AND IS NOT TRANSFERABLE AND IS ONLY FOR THE USE BY THE QUALIFYING SHAREHOLDER(S) NAMED BELOW WHO WISH(ES) TO APPLY FOR THE RIGHTS SHARES IN ADDITION TO THOSE PROVISIONALLY ALLOTTED TO HIM/HER/IT/THEM.

APPLICATION MUST BE RECEIVED BY 4:00 P.M. ON 11 MARCH 2010.

IF YOU ARE IN ANY DOUBT ABOUT THIS FORM, YOU SHOULD CONSULT YOUR STOCKBROKER OR OTHER LICENSED SECURITIES DEALER, BANK MANAGER, SOLICITOR, PROFESSIONAL ACCOUNTANT OR OTHER PROFESSIONAL ADVISER.

A copy of this form, together with a copy of the rights issue prospectus of the Company dated 24 February 2010 (the “Prospectus”), the provisional allotment letter and (where applicable) the documents specified in the paragraph headed “Documents delivered to the Registrar of Companies” in appendix IV to the Prospectus have been registered with the Registrar of Companies in Hong Kong as required by section 342C of the Companies Ordinance, Chapter 32 of the Laws of Hong Kong. A copy of each of the Prospectus Documents has been, or will as soon as reasonably practicable after the Prospectus Posting Date be, filed with the Registrar of Companies in Bermuda in accordance with the Companies Act 1981 of Bermuda. The Securities and Futures Commission of Hong Kong, the Registrar of Companies in Hong Kong and the Registrar of Companies in Bermuda take no responsibility as to the contents of any of these documents. Terms defined in the Prospectus have the same meanings herein unless the context otherwise.

Dealings in the securities of the Company may be settled through the CCASS operated by HKSCC and you should consult your stockbroker or other licensed securities dealer or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser for details of the settlement arrangements and how such arrangements may affect your rights and interests. Hong Kong Exchanges and Clearing Limited, the Stock Exchange and HKSCC take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.

It should be noted that upon occurrence of certain events including force majeure events, the Underwriter has the right to, at or before 4:00 p.m. on the third Business Day after the Latest Time for Acceptance, terminate its obligations under the Underwriting Agreement. These termination events are set out in the section headed “Underwriting Arrangement” in the Prospectus. Upon the giving of written notice of termination, all obligations of the Underwriter under the Underwriting Agreement shall cease. If the Underwriting Agreement is terminated by the Underwriter on or before the aforesaid deadline or does not become unconditional, the Underwriting Agreement shall terminate and the Rights Issue will not proceed. The Shares have been dealt in on an ex-rights basis since 11 February 2010 and the Rights Shares are expected to be dealt with in their nil-paid form from 26 February 2010 to 8 March 2010 (both dates inclusive). If the conditions of the Rights Issue are not fulfilled, the Rights Issue will not proceed. Any person dealing in the securities of the Company from now up to the date on which all the conditions of the Rights Issue are fulfilled and any person dealing in the nil-paid Rights Shares from 26 February 2010 to 8 March 2010 (being the first day and last day of dealings in the nil-paid Rights Shares respectively) will accordingly bear the risk that the Rights Issue may not become unconditional and may not proceed. Any person dealing or contemplating any dealing in the securities of the Company and/or the Rights Shares in their nil-paid form during this period who is in any doubt about his/her/its/their position is recommended to consult his/her/its/their own professional adviser. It is expected that the conditions referred to in the section headed “Conditions of the Rights Issue and the Bonus Issue” in the Prospectus are to be fulfilled by 4:00 p.m. Hong Kong time on 16 March 2010. If the conditions referred to in that section are not fulfilled at or before 4:00 p.m. Hong Kong time on 16 March 2010 (or such later time and/or date as the Company and the Underwriter may determine in writing) or the Underwriting Agreement has been terminated in accordance with the terms thereof, the Rights Issue will not proceed.

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Branch share registrar in Hong Kong: WANG ON GROUP LIMITED Head office and principal Tricor Tengis Limited 26th Floor （宏安集團有限公司） * 5/F., Wai Yuen Tong Medicine Buildingplace of business in Hong Kong: Tesbury Centre 9 Wang Kwong Road 28 Queen’s Road East (Incorporated in Bermuda with limited liability) Kowloon Bay Wanchai (Stock Code: 1222) Kowloon Hong Kong Hong Kong RIGHTS ISSUE OF 1,631,233,962 RIGHTS SHARES OF HK$0.05 EACH AT HK$0.185 PER RIGHTS SHARE Registered office: PAYABLE IN FULL ON ACCEPTANCE ON THE BASIS OF THREE RIGHTS SHARES Clarendon House FOR EVERY ONE CONSOLIDATED SHARE HELD ON THE RECORD DATE 2 Church StreetHamilton HM11 AND TIME WITH BONUS ISSUE ON THE BASIS OF TWO BONUS SHARES FOR Bermuda EVERY THREE RIGHTS SHARES TAKEN UP UNDER THE RIGHTS ISSUE FORM OF APPLICATION FOR EXCESS RIGHTS SHARES Name(s) and address of the Qualifying Shareholder(s)

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Application can only be made by the registered Shareholder(s) named herein.

To: The Directors WANG ON GROUP LIMITED

Dear Sirs and Madams,

I/We, being the registered holder(s) named above of Shares, hereby irrevocably apply for excess Rights Share(s) at the Subscription Price of HK$0.185 per Rights Share under the Rights Issue in respect of which I/we enclose

a separate remittance in favour of “Wang On Group Limited – Excess Application Account” and crossed “ Account Payee Only ” issued for HK$ being payment in full on application for the aforementioned number of excess Rights Shares and I/we hereby request you to allot such excess Rights Shares applied for, or any lesser number, to me/us and to send by ordinary post at my/our risk to the address shown above my/our Consolidated Share certificate(s) for the number of additional Rights Shares as may be allotted to me/us in respect of this application and/or a cheque for any application money refundable to me/us. I/We understand that allotment in respect of this application shall be made on a fair and equitable basis as set out in the Prospectus, to be decided at the sole discretion of the Directors. I/We acknowledge that I am/we are not guaranteed to be allotted any of the excess Rights Shares applied for. I/We, hereby undertake to accept such number of additional Rights Shares and Bonus Shares as may be allotted to me/us as aforesaid upon the terms set out in the Prospectus and subject to the memorandum and bye-laws of the Company. In respect of any additional Rights Shares and Bonus Shares allotted to me/us, I/we authorise you to place my/our name(s) on the register of members of the Company as holder(s) of such Rights Shares and Bonus Shares.

1. 2.

3. 4.

Signature(s) of applicant(s) (all joint applicants must sign)

Date:

2010

Contact telephone no.

This form should be completed and lodged, together with payment as to HK$0.185 per Rights Share for the number of excess Rights Shares applied for, with the Company’s branch share registrar in Hong Kong, Tricor Tengis Limited, 26th Floor, Tesbury Centre, 28 Queen’s Road East, Wanchai, Hong Kong so as to be received by not later than 4:00 p.m. on 11 March 2010. All remittances must be made in Hong Kong dollars and must be forwarded either by cheque drawn on a Hong Kong dollar account with a licensed bank in Hong Kong or by a separate cashier order issued by a licensed bank in Hong Kong. All such cheques or cashier orders must be made payable to “Wang On Group Limited – Excess Application Account” and crossed “ Account Payee Only ”. All enquiries in connection with this form of application for excess Rights Shares should be addressed to the Company’s branch share registrar at the above address.

All cheques and cashier orders will be presented for payment immediately following receipt and all interest earned on such monies will be retained for the benefit of the Company. Completion and return of a form of application for excess Rights Shares together with a cheque or cashier order in payment for the Rights Shares applied for which are the subject of this form will constitute a warranty by the applicant(s) that the cheque or cashier order will be honoured on first presentation. Without prejudice to its other rights in respect thereof, the Company reserves the right to reject any application for excess Rights Shares in respect of which the accompanying cheque or cashier order is dishonoured on first presentation.

The Prospectus Documents have not been and will not be registered or filed under the applicable securities legislation of any jurisdiction other than in Hong Kong and Bermuda. No action has been taken to permit the Rights Issue in any territory outside Hong Kong, unless in the relevant jurisdiction such an offer or invitation could lawfully be made without compliance with any registration or other legal or regulatory requirements thereof. No person receiving a copy of the Prospectus, or a provisional allotment letter or this form of application for excess Rights Shares in any territory outside Hong Kong may treat it as an offer or invitation to apply for the Rights Shares or excess Rights Shares, unless in the relevant jurisdictions such an offer or invitation could lawfully be made without compliance with any registration or other legal and regulatory requirements thereof. It is the responsibility of anyone outside Hong Kong wishing to make an application for the Rights Shares to satisfy themselves, before acquiring any rights to subscribe for the provisionally allotted Rights Shares, as to the observance of the laws and regulations of all relevant jurisdictions, including the obtaining of any government or other consents and to pay any taxes and duties required to be paid in such territory in connection therewith. The Company reserves the right to refuse to accept any application for the Rights Shares where it believes that doing so would violate the applicable securities legislation or other laws or regulations of any jurisdiction.

You will be notified by the Company’s branch share registrar in Hong Kong of any allotment of excess Rights Shares made to you.

If no excess Rights Shares are allotted to you, a refund cheque for the full amount tendered on application without interest will be sent by ordinary post to you at your own risk and, if the number of excess Rights Shares allotted to you is less than the number applied for, a cheque for the amount of the surplus application monies, without interest, will be sent by ordinary post to you at your own risk at your address as shown on the register of members of the Company. Such posting is expected to take place on or before 18 March 2010. Any such cheque will be drawn in favour of the person(s) named on this form. It is expected that share certificates in respect of the Rights Shares and Bonus Shares will be sent by ordinary post at your own risk on or before 18 March 2010. You will receive one share certificate for all the fully-paid Rights Shares and Bonus Shares allotted to you.

All documents, including cheques for amounts due, will be sent by ordinary post at the risk of the relevant applicants or other persons entitled thereto.

A SEPARATE CHEQUE OR CASHIER ORDER MUST ACCOMPANY EACH APPLICATION

NO RECEIPT WILL BE GIVEN

For office use only

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----- Start of picture text ----- Application number Number of excess Rights Shares applied for Amount paid on application Balance refundedHK$ HK$----- End of picture text -----

* For identification purposes only

重要提示

此乃有價值及不可轉讓之表格，僅供名列本表格且有意申請彼╱彼等獲暫定配發之供股股份以外之供股股份之合資格股東使用。

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額外申請表格編號

申請須於二零一零年三月十一日下午四時正前交回。

閣下如對本表格有任何疑問，應諮詢 閣下之股票經紀或其他持牌證券交易商、銀行經理、律師、專業會計師或其他專業顧問。

本表格連同本公司於二零一零年二月二十四日刊發之供股章程（「章程」）、暫定配額通知書及（倘適用）章程附錄四「送呈公司註冊處之文件」一段所述的文件，已遵照香港法例第32章公司條例第342C條之規定送交香港公司註冊處登記。 章程文件之副本遵照百慕達1981年公司法已或將於章程寄發日期後在合理可行情況下盡快送呈百慕達公司註冊處處長存檔。香港證券及期貨事務監察委員會、香港公司註冊處及百慕達公司註冊處對任何此等文件之內容概不負責。 除非文義另有所指，本申請表格所採用詞彙與章程所界定者具有相同涵義。

本公司證券之買賣可透過由香港結算管理之中央結算系統進行交收，而 閣下應就該等交收安排之詳情及該等安排可能對 閣下之權利及權益構成之影響諮詢 閣下之股票經紀或其他持牌證券交易商或其他註冊證券交易商、銀行經理、 律師、專業會計師或其他專業顧問。

香港交易及結算所有限公司、聯交所及香港結算對本文件之內容概不負責，對其準確性或完整性亦無發表任何聲明，並明確表示概不就因本文件全部或任何部份內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 務請留意，在若干事項（包括不可抗力事故）發生時，包銷商有權於最後接納時限之後第三個營業日下午四時正或之前終止其於包銷協議項下之責任。該等終止事項已載於章程「包銷安排」一節。在給予終止之書面通知時，包銷商於包 銷協議項下之責任將予以終止。倘若包銷商於上述截止日期或之前終止包銷協議或包銷協議並無成為無條件，則包銷協議將告終止，且供股將不會進行。股份已由二零一零年二月十一日起按除權基準買賣。供股股份預期將由二零一零 年二月二十六日起至二零一零年三月八日止（首尾兩日包括在內）期間以未繳股款形式買賣。倘若供股之條件未獲達成，則供股將不會進行。擬由現在起至供股之所有條件獲達成日期止期間買賣本公司之證券，及由二零一零年二月二十 六日起至二零一零年三月八日止（即買賣未繳股款供股股份之首日及最後一日）期間以未繳股款形式買賣供股股份之任何人士，須承擔供股可能不會成為無條件或可能不予進行之風險。擬買賣本公司證券及╱或未繳股款供股股份之任何 股東或其他人士如對其╱彼等之狀況有疑問，建議諮詢其╱彼等本身之專業顧問。預期章程內「供股及紅股發行之條件」一節所述之條件將於二零一零年三月十六日下午四時正（香港時間）前獲履行。倘該節所述之條件於二零一零年三 月十六日下午四時正（香港時間）（或本公司及包銷商可能書面釐定之該較後時間及╱或日期）或之前並無獲履行或包銷協議已根據其條款終止，則供股將不會進行。

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WANG ON GROUP LIMITED 香港股份過戶登記分處： 卓佳登捷時有限公司 * （宏安集團有限公司） 香港 灣仔 （於百慕達註冊成立之有限公司） 皇后大道東28號 （股票代號：1222） 金鐘匯中心26樓 按於記錄日期及時間每持有一股合併股份獲發三股供股股份之基準 以每股供股股份 0.185 港元之價格（須於接納時繳足） 供股發行 1,631,233,962 股每股面值 0.05 港元供股股份 並按根據供股每接納三股供股股份獲發兩股紅股之基準發行紅股 額外供股股份申請表格 合資格股東姓名及地址

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總辦事處及香港主要營業地點： 香港 九龍 九龍灣 宏光道9號 位元堂藥業大廈5樓 註冊辦事處： Clarendon House 2 Church Street Hamilton HM11 Bermuda

只供本欄所列名之登記股東提出申請。

致： 宏安集團有限公司 列位董事 台照 敬啟者：

股額外供股股份，而本人╱吾等隨附一張以「Wang On Group Limited – Excess Application Account」 港元。本人╱吾等謹此要求 閣下可能配發予本人╱吾等所申請（或較少數目）之額外

本人╱吾等為上列股份之登記持有人，謹此不可撤回地按供股以認購價每股供股股份0.185港元申請認購

為抬頭人，並劃線註明「 只准入抬頭人賬戶 」之獨立支票，支付須於申請認購上述額外供股股份數目所需之全部款項 港元。本人╱吾等謹此要求 閣下可能配發予本人╱吾等所申請（或較少數目）之額外 供股股份，並按上列地址將本人╱吾等就本認購申請所配發之額外供股股份數目之股票及╱或任何有關申請款項之退款支票以普通郵遞方式寄予本人╱吾等，郵誤風險由本人╱吾等承擔。本人╱吾等明白是項申請將由董事絕對酌情決 定按章程所載公平公正之基準配發。本人／吾等知悉，並不保證本人／吾等可獲配發任何所申請之額外供股股份。

本人╱吾等承諾接納按章程所載條款及 貴公司之組織章程及公司細則規限下可能配發予本人╱吾等之上述額外供股股份及紅股之數目。就配發予本人╱吾等之任何額外供股股份及紅股，本人╱吾等授權 閣下將本人╱吾等之姓名列 入 貴公司股東名冊，作為該等供股股份及紅股之持有人。

申請人簽署（所有聯名申請人均須簽署）

日期：二零一零年 月

日

聯絡電話：

本表格填妥後，須連同按申請額外供股股份所支付每股供股股份0.185港元之認購款項，最遲須於二零一零年三月十一日下午四時正前交回本公司之香港股份過戶登記分處卓佳登捷時有限公司，地址為香港灣仔皇后大道東28號金鐘匯 中心26樓。所有股款須以港元繳付，並須以香港持牌銀行戶口開出之支票或以香港持牌銀行發出之銀行本票支付。所有支票或銀行本票均須註明抬頭人為「Wang On Group Limited – Excess Application Account」，並以「 只准入抬頭人 賬戶 」方式劃線開出。有關本額外供股股份申請表格之所有查詢，須按上述地址送交本公司之股份過戶登記分處。

所有支票及銀行本票於收取後將立即過戶，而有關款項所得之全部利息將撥歸本公司所有。填妥及交回額外供股股份申請表格連同所申請之供股股份之付款支票或銀行本票後將構成申請人之一項保證，表示該支票或銀行本票於首次過 戶時可獲兌現。在不損害其他有關權利之前提下，本公司有權在隨附支票或銀行本票於首次過戶未能兌現時拒絕受理有關之額外供股股份申請。

除香港及百慕達適用法例以外，章程文件並無及將不會根據任何司法權區的適用證券法或對等法例登記。因此，除非於有關司法權區可合法提出要約或邀請而毋須辦理該司法權區任何登記手續或符合該司法權區其他法例或監管規定， 否則並無就供股於香港以外任何地區獲得准許而辦理任何手續。任何在香港以外地區的人士倘接獲章程副本或暫定配額通知書或本額外供股股份申請表格，除非於有關司法權區可合法提出認購要約或邀請而毋須辦理有關司法權區任何 登記手續或符合有關司法權區其他法例或監管規定，否則不得視為申請供股股份或額外供股股份的要約或邀請。任何在香港以外地區的人士如欲申請認購供股股份（在取得認購暫定配發供股股份的任何權利），其本身有責任遵守一切有 關司法權區的法例及規則，包括取得任何政府或其他方面的同意，以及繳納該地區規定須就此繳付的任何稅款及徵費。倘本公司相信接納有關申請會觸犯任何司法權區的適用證券法或其他法例或規則，本公司保留權利拒絕接納任何認 購供股股份的申請。

閣下將接獲本公司之香港股份過戶登記分處通知任何額外供股股份之配額。

倘 閣下未獲配發任何額外供股股份，則申請認購時所繳付之全數款項之退款支票（不計利息）及如 閣下獲配發之額外供股股份數目少於所申請之數目，則多繳之申請款項之退款支票（不計利息）預期將於二零一零年三月十八日或之 前以普通郵遞方式寄發予 閣下，郵誤風險概由 閣下承擔。任何該等支票將以本表格所列之人士為抬頭人，預期有關供股股份及紅股之股票將於二零一零年三月十八日或之前以普通郵遞方式寄發予 閣下，郵誤風險概由 閣下承 擔。 閣下將就 閣下獲配發的所有繳足供股股份及紅股接獲一張股票。

所有文件（包括應付款額之支票）將以普通郵遞方式寄發予有關申請人或其他應得之人士，郵誤風險概由收件人承擔。

每份申請表格須隨附一張獨立支票或銀行本票 本公司將不另發收據

此欄只供本公司填寫

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----- Start of picture text ----- 申請編號 申請額外供股股份數目 申請時繳付之款項 退還餘款港元 港元----- End of picture text -----

* 僅供識別