Youzan Technology Limited — Capital/Financing Update 2000

Apr 13, 2000

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.

The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the content of this announcement, 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 announcement.

Unless otherwise defined herein, the terms used in this announcement have the same meanings as in the prospectus dated 10th April, 2000 (the “Prospectus”) issued by SYSCAN Technology Holdings Limited (the “Company”).

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**SYSCAN Technology Holdings Limited ***

(Incorporated in Bermuda with limited liability)

PLACING OF SHARES AND

LISTING ON THE GROWTH ENTERPRISE MARKET OF THE STOCK EXCHANGE OF HONG KONG LIMITED

Number of Placing Shares : 152,000,000 (subject to Over-allotment Option) Issue Price : HK$1.33 per Placing Share Nominal value : HK$0.10 each Stock Code : 8083

Global Coordinator, Sponsor and Bookrunner

BNP PRIME PEREGRINE

Lead Manager

BNP PRIME PEREGRINE

Co-Lead Managers

Worldsec Corporate Finance Limited

Co-Managers

BOCI Asia Limited

Celestial Capital Limited Yuanta Brokerage Company Limited

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Summary

— The 152,000,000 Placing Shares were significantly over-subscribed. — Dealing in the Shares on GEM are expected to commence at 10:00 a.m. on Friday, 14th April, 2000.

Level of Interest

The initial 152,000,000 Placing Shares were significantly oversubscribed, of which 151,500,000 Placing Shares have been conditionally placed in full to professional and institutional investors and 500,000 Placing Shares have been conditionally placed in full to two employees of the Group. The placees are independent and not connected to the directors, chief executive, substantial shareholders, management shareholders or significant shareholders of the Company or any of its subsidiaries or the Sponsor, the Lead Manager, the Underwriters or an associate of any of them.

According to the Rules Governing the Listing of Securities on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited, the Company is required to maintain a public float of not less than 17 per cent. of its issued share capital. Immediately following the Placing (but before exercise of the Over-allotment Option), the Company will have a public float of approximately 59 per cent. of its issued share capital.

Deposit of Share Certificates into CCASS

The certificates in respect of the Placing Shares are expected to be issued in the name of HKSCC Nominees Limited and deposited into CCASS on or about 13th April, 2000.

Over-allotment Option

The Company has granted to the Underwriters the Over-allotment Option exercisable by BNP Prime Peregrine Securities on behalf of the Underwriters at any time and from time to time during the period of 30 days from the date of the Prospectus of 10th April, 2000 to require the Company to issue up to an aggregate of 22,800,000 new Shares. If the Over-allotment Option is exercised, a press announcement will be made.

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Commencement of Dealings

Dealing in the Shares on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited are expected to commence at 10:00 a.m. on Friday, 14th April, 2000

By order of the Board SYSCAN Technology Holdings Limited Darwin Hu Director

Hong Kong, 13th April, 2000

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief, (i) the information contained in this announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and (iii) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

This announcement and a copy of the Prospectus referred to above will appear on the GEM web site.

* For identification purposes only

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