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 Sinocan Holdings Limited (In Liquidation)
(Stock Code: 1095)
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 (Listing Rules)

The Stock Exchange of Hong Kong Limited (the Exchange) announces that the listing of the shares of Sinocan Holdings Limited (In Liquidation) (the Company) will be cancelled with effect from 9:30 a.m. on 23 November 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 24 June 2002.  Accordingly, the Company's shares have effectively been suspended for over 28 months.

The Company was put into the third stage of the Delisting Procedures on 24 June 2003. Pursuant to the Delisting Procedures, at the end of the third stage which in the case of the Company was 23 December 2003 (the Deadline), where no valid resumption proposals have been received, the listing of the Company's shares will be cancelled.  A resumption proposal was submitted to the Exchange on 10 December 2003. However, the Listing Committee decided that the resumption proposal was not viable.  The Company disagreed with the Listing Committee's decision and subsequently appealed to the Listing (Review) Committee and Listing Appeals Committee (Committees).  Both Committees upheld the Listing Committee's decision and the Exchange will cancel the listing of the Company's shares with effect from 9:30 a.m. on 23 November 2004 in accordance with the Delisting Procedures.

The Exchange has notified the Company of its obligation under paragraph 3.1 of Practice Note 17 to issue an announcement informing the public of the cancellation of the listing of its shares on 22 November 2004.

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