Xin Point Holdings Limited — M&A Activity 2000

Jan 24, 2000

Listed Company Information

K & P INT'L<0675> - Announcement The Stock Exchange of Hong Kong Limited ("the Stock Exchange") 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. K & P International Holdings Limited (Incorporated in Bermuda with limited liability) Announcement Summary: The Company is negotiating with an independent third party a person not connected with a director, chief executive or substantial shareholder of the Company or any of its subsidiaries or its associates (as defined under the Rules Governing the Listing of Securities on the Stock Exchange), regarding the possible acquisition from such party of an interest of not more than 50% in a private company engaging in clock trading business. Such acquisition may or may not be materialised. Shareholders are advised to exercise caution when dealing in shares of the Company. This statement is made at the request of the Stock Exchange. The directors of the Company ("the Directors") have noted the recent increase in the price and turnover of the shares of the Company and wish to state that the Company is negotiating with an independent third party a person not connected with a director, chief executive or substantial shareholder of the Company or any of its subsidiaries or its associates (as defined under the Rules Governing the Listing of Securities on the Stock Exchange), regarding the possible acquisition from such party of an interest of not more than 50% in a private company engaging in clock trading business. Such acquisition may or may not be materialised. If and when any agreement is reached as to the acquisition, an appropriate announcement may be made. Shareholders are advised to exercise caution when dealing in shares of the Company. Save as disclosed above, the Directors confirm that there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under paragraph 3 of the Listing Agreement, neither is the Board aware of any matter discloseable under the general obligation imposed by paragraph 2 of the Listing Agreement, which is or may be of a price-sensitive nature. Made by the order of the Board of K & P International Holdings Limited the Directors of which individually and jointly accept responsibility for the accuracy of this statement. By Order of the Board Chung Yik Cheung, Raymond Company Secretary Hong Kong, 21 January, 2000