YNBY International Limited — M&A Activity 2000

Jan 25, 2000

Listed Company Information

ABC COM (HOLD)<0030> - Announcement 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. ABC COMMUNICATIONS (HOLDINGS) LIMITED (incorporated in Bermuda with Limited Liability) COMPLETION OF ACQUISITION OF SHARES IN QUOTEPOWER INTERNATIONAL LIMITED The Board announced on 29th December 1999 (the "Announcement") that the Company and its wholly owned subsidiary, Choudary Limited, had entered into a conditional sale and purchase agreement (the "Agreement") with QuotePower Holdings Limited ("QPH") and the shareholders of QPH (the "QPH Shareholders") to acquire approximately 74.5% of the issued share capital of QuotePower International Limited ("QPI") (the "Acquisition"). The Board is pleased to announce that the Acquisition was completed on 22nd January, 2000 ("Completion") and that pursuant to Completion, the Company issued 51,138,000 ordinary shares of HK$0.10 each in the Company at $2.50 per share to the QPH Shareholders in full satisfaction of the consideration for the Acquisition. The Board is pleased to announce that the Acquisition was completed on 22nd January, 2000 ("Completion"). Upon Completion, pursuant to the Agreement, the Company acquired, through its wholly owned subsidiary, Choudary Limited, approximately 74.5% of the issued share capital of QPI, and the Company has allotted and issued 51,138,000 ordinary shares of HK$0.10 each in the Company at $2.50 per share (the "Consideration Shares") to the QPH Shareholders, in full satisfaction of the consideration required to be paid for the Acquisition. The Consideration Shares will rank pari passu with the existing issued ordinary shares of the Company. The Stock Exchange of Hong Kong Limited has granted conditional approval to the listing of and permission to deal in the Consideration Shares and dealings are expected to commence on 25th January, 2000. This announcement is made by order of the Board of Directors of the Company, who individually and jointly accept responsibility for the accuracy of this announcement. By Order of the Board of directors of ABC Communications (Holdings) Limited Patricia Yeung Shuk Kwan Managing Director Hong Kong, 24th January,2000