Zibuyu Group Limited — Proxy Solicitation & Information Statement 2001

May 24, 2001

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(Incorporated in Bermuda with limited liability)

NOTICE IS HEREBY GIVEN THAT an extraordinary general meeting of Zhong Hua Land Holdings Limited (the "Company") will be held at Victoriana Room, 4th Floor, Hotel Furama Hong Kong, 1 Connaught Road Central, Central, Hong Kong at 11:45 a.m. on Friday, 22nd June 2001 for the purpose of considering and, if thought fit, passing the following resolution with or without amendments:

SPECIAL RESOLUTION

"THAT, subject to the approval of the Registrar of Companies in Bermuda, the name of the Company be changed to "Zhong Hua International Holdings Limited" and "中華國際控股有限公司" in Chinese; and the directors of the Company be and are hereby authorised to do all such acts and things and execute all documents they consider necessary or expedient to give effect to the change of name."

By Order of the Board

Carrie Ho

Company Secretary

Hong Kong, 23rd May, 2001

Notes:

1. Any member of the Company entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and, on a poll, vote instead of him. A proxy need not be a member of the Company.

2. To be valid, the proxy form together with any power of attorney or other authority (if any) under which it is signed, or a notarially certified copy thereof, must be lodged with the Company's branch share registrar in Hong Kong, Tengis Limited at 4th Floor, Hutchison House, 10 Harcourt Road, Central, Hong Kong not less than forty-eight hours before the time appointed for holding the meeting.

* for identification only

Please also refer to the published version of this announcement in the i-Mail.