WH Group Limited — Share Issue/Capital Change 2001

Apr 3, 2001

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

HUEY TAI INTERNATIONAL LIMITED

(Incorporated in Bermuda with limited liability)

RESULTS OF THE SPECIAL GENERAL MEETING RELATING TO

CAPITAL REORGANIZATION PROPOSAL

AND

CHANGE IN THE COMPANY NAME

The special and ordinary resolutions approving the capital reorganization proposal were duly passed at the special general meeting and the capital reorganization proposal shall become effective on 3rd April 2001. The arrangement for dealings in the consolidated shares resulting from the capital reorganization proposal on the Stock Exchange is set out below.

The special resolution approving the proposed change of the company's name to "Sing Pao Media Group Limited" and "成報傳媒集團有限公司" be adopted as the Chinese name of the company for identification purpose was also duly passed at the special general meeting. The company has made an application to the Registrar of Companies in Bermuda for approval of the proposed change of name.

Further to the announcement dated 28th February 2001 and the circular dated 10th March 2001, the board of directors (the "Board") of Huey Tai International Limited (the "Company") is pleased to announce that the special and ordinary resolutions approving the capital reorganization proposal to, among other things, reduce the nominal value of all issued and unissued shares from HK$0.40 each to HK$0.01 each and to consolidate every five issued and unissued shares of HK$0.01 each into one consolidated share of HK$0.05 were duly passed at the special general meeting of the Company held on 2nd April 2001 (the "SGM"). The Listing Committee of the Stock Exchange has also granted the listing of and permission to deal in the consolidated shares resulting from the capital reorganization proposal. Accordingly, the capital reorganization proposal shall become effective on 3rd April 2001 and the board lot of shares will be changed from 5,000 shares to 2,000 consolidated shares.

THE TIMETABLE

The timetable is as follows:

2001

Effective date of the capital reorganization proposal Tuesday, 3rd April

First day for free exchange of certificate(s) for

existing shares for new certificate(s)

in the Company's new name for consolidated shares Tuesday, 3rd April

Dealings in consolidated shares commence 10:00 a.m., Tuesday, 3rd April

Closure of original counter for trading in shares

in board lots of 5,000 10:00 a.m., Tuesday, 3rd April

Temporary counter for trading in consolidated shares

in board lots of 1,000 consolidated shares in the form

of existing share certificate(s) for the shares opens 10:00 a.m., Tuesday, 3rd April

Holders of odd lots of consolidated shares to

Contact Ms. Clara Ho of CU Securities Limited

at 2801 0787 to arrange to match the sales and

purchases of odd lots of the consolidated shares Tuesday, 3rd April to Tuesday, 15th May

Original counter for trading in consolidated shares

in board lots of 2,000 consolidated shares in the

form of new share certificate(s)

for the consolidated shares re-opens 10:00 a.m., Friday, 20th April

Parallel trading commences 10:00 a.m., Friday, 20th April

Last day for trading in temporary counter for the

consolidated shares in board lots of 1,000

consolidated shares in the form of existing

share certificate(s) Tuesday, 15th May

Parallel trading ends 4:00 p.m., Tuesday, 15th May

Last day for free exchange of certificate(s)

for existing shares for new certificate(s) in the

Company's new name for consolidated shares Monday, 21st May

Light red share certificates for existing shares of the Company will be valid for delivery and settlement in respect of dealings only up to and including 21st May 2001. Such share certificates will cease to be marketable and will not be acceptable for dealing purposes after 4:00 p.m. on 21st May 2001. However, light red share certificates for existing shares of the Company will continue to be good evidence of legal title and may be changed for new blue share certificates for the consolidated shares of the Company on the basis of five existing shares for one consolidated share free of charge during the period from 3rd April 2001 to 21st May 2001 (both dates inclusive) and thereafter at a charge of HK$2.50 for each new share certificate issued for the consolidated shares.

CHANGE IN THE COMPANY NAME

The Board also wishes to announce that the special resolution approving the proposed change of the Company's name to "Sing Pao Media Group Limited" and "成報傳媒集團有限公司" be adopted as the Chinese name of the Company for identification purpose was also duly passed at the SGM. The Company has made an application to the Registrar of Companies in Bermuda for approval of the proposed change of name.

The Company will make a further announcement as and when the proposed change of name of the Company has been approved by the Registrar of Companies in Bermuda.

By order of the board

Huey Tai International Limited

Leung Man Fai

Company Secretary

Hong Kong, 2nd April 2001

Please also refer to the published version of this announcement in the Hong Kong iMail.