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 eCyberChina Holdings Limited
Stock Code (254)
Proceeding to the third stage of the delisting procedures
as stipulated under 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) announces that effective from the date of this announcement, eCyberChina Holdings Limited (the Company) will be put into the third stage of the delisting procedures in accordance with Practice Note 17 to the Listing Rules (Delisting Procedures).  Practice Note 17 formalises the procedures to be adopted in dealing with long suspended companies.

Dealing in the shares of the Company has been suspended since 30 June 2003. Since its suspension, the Company has not submitted any valid resumption proposal.  In the event any resumption proposal is submitted, it should enable the Company to demonstrate that it complies with Rule 13.24 of the Listing Rules.  Rule 13.24 of the Listing Rules requires the Company to carry out, directly or indirectly, a sufficient level of operations or have tangible assets of sufficient value and/or intangible assets for which a sufficient potential value can be demonstrated to the Exchange to warrant the continued listing of the Company's securities on the Exchange.   The resumption proposal will also need to demonstrate that the Company has in place adequate financial reporting and compliance systems and procedures to enable the Company to meet its obligations under the Listing Rules.   In addition, the concerns raised by the Company's auditors through the qualification of their audit report on the Company's accounts for the year ended 30 June 2002 will need to be investigated and addressed to the Exchange's satisfaction in the resumption proposal. 

In view of the absence of resumption proposal since the suspension of trading of the Company's shares on the Exchange on 30 June 2003 and the Company's continued failure to demonstrate its compliance with the requirements stipulated under Rule 13.24 of the Listing Rules, the Company will now be proceeded to the third stage of the Delisting Procedures. The Company will have a final six months for the submission of a valid resumption proposal.  If the Company does not submit a valid resumption proposal by 10 February 2005, the Exchange intends to cancel the listing of the Company. 

The Exchange will make a further announcement in due course if the delisting takes place.