ZO Future Group — M&A Activity 2009

Sep 25, 2009

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

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents 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.

GRANDTOP INTERNATIONAL HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2309)

ANNOUNCEMENT

Reference is made to the announcement of Grandtop International Holdings Limited (the “Company”) dated 21st August, 2009 in relation to, among other things, the proposed conditional offer by the Company to acquire all the issued and to be issued share capital of Birmingham City PLC not already owned by the Company (the “Offer”). The Offer was set out in the offer document dated 15 September 2009 (“Offer Document”) and the accompanying Form of Acceptance. The Offer constitutes a very substantial acquisition for the Company under the Listing Rules. Terms used herein shall have the same meaning as defined in the Offer Document unless otherwise defined.

The Premier League has confirmed to the Company that it has no objection to the Company increasing its stake in Birmingham City PLC to over 30%. The Premier League has also confirmed that Carson Yeung Ka Sing and Vico Hui Ho Luek qualify for appointment as directors (as that term is defined in the Premier League Rules) of Birmingham City FC and that their appointment as Directors of the Club may, so far as the Premier League is concerned, proceed.

By Order of the Board

Grandtop International Holdings Limited Hui Ho Luek, Vico

Executive Director and Chief Executive Officer

Hong Kong, 25 September, 2009

As at the date of this announcement, the executive Directors are Mr. Yeung Ka Sing, Carson, Mr. Hui Ho Luek, Vico, Mr. Steven McManaman, Mr. Lee Yiu Tung, Mr. Ip Wing Lun and Ms. Wong Po Ling, Pauline, the non-executive Directors are Mr. Christian Lali Karembeu and Mr. Chan Wai Keung and the independent non-executive Directors are Mr. Chang Kin Man, Mr. Yau Yan Ming, Raymond and Mr. Zhou Han Ping.