ANNOUNCEMENT -- In relation to the matter of Euro-Asia Agricultural (Holdings) Company Limited (In Liquidation)(Stock Code 932) Cancellation of listing in accordance with Practice Note 17 to the Listing Rules

Regulatory

18 May 2004

The attached announcement in relation to the matter of Euro-Asia Agricultural (Holdings) Company Limited will be published in newspapers on 19 May 2004.

THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

ANNOUNCEMENT

In relation to the matter of Euro-Asia Agricultural (Holdings) Company Limited
(In Liquidation)
(Stock Code 932)
Cancellation of listing
in accordance with Practice Note 17 to the
Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited (the Listing Rules)

The Stock Exchange of Hong Kong Limited (the Exchange) hereby announces that with effect from 9:30 a.m. on 20 May 2004 , the listing of the shares of the Company will be cancelled in accordance with the Delisting Procedures. By the end of the Deadline mentioned below, the Company has failed to submit a valid proposal for resumption. Therefore, the Exchange will cancel the listing of the Company's shares in accordance with the Delisting Procedures.

The Stock Exchange of Hong Kong Limited (the Exchange) announces that the listing of the shares of Euro-Asia Agricultural (Holdings) Company Limited (In Liquidation) (the Company) will be cancelled with effect from 9:30 a.m. on 20 May 2004 in accordance with the delisting procedures stipulated in Practice Note 17 to the Listing Rules (the Delisting Procedures). Practice Note 17 to the Listing Rules formalises the procedures to be adopted to delist long-suspended companies.

Dealings in the Company's shares have been suspended since 30 September 2002. Accordingly, dealings in the Company's shares have effectively been suspended for over 18 months.

The Company was put into the third stage of the Delisting Procedures on 31 October 2003 . Pursuant to the Delisting Procedures, at the end of the third stage which in the case of the Company was 1 May, 2004 (the Deadline), where no valid proposals have been received for resumption, the listing of the Company's shares will be cancelled. Following the suspension of trading in the Company's shares and before the Deadline, a resumption proposal was submitted to the Exchange on 24 December 2003 . However, the Listing Division decided that the resumption proposal was not viable. By the end of the Deadline, the Company has not submitted any valid proposal for resumption.

The Exchange has notified the Company of its obligation under paragraph 3.1 of Practice Note 17 to issue an announcement on the same day of this announcement informing the public of the cancellation of the listing of its shares.

The Exchange advises shareholders of the Company who have any queries about the implications of the delisting to obtain appropriate professional advice.

Hong Kong, 19 May 2004

Updated 18 May 2004