ANNOUNCEMENT -- In relation to the matter of AKuP International Holding Limited (Stock Code: 8179) Proceeding to the cancellation of listing as stipulated under Rule 9.14 of the GEM Listing Rules

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 AKuP International Holding Limited
(Stock Code: 8179)
Proceeding to the cancellation of listing
as stipulated under Rule 9.14 of the
Rules Governing the Listing of Securities on
The Growth Enterprise Market of
The Stock Exchange of Hong Kong Limited (the GEM Listing Rules)

The Stock Exchange of Hong Kong Limited (the Exchange) proposes to exercise its right to cancel the listing of AKuP International Holding Limited (the Company) on the Exchange pursuant to Rule 9.14 of the GEM Listing Rules.

Dealing in the shares of the Company has been suspended at the direction of the Exchange since 5 February 2004. As at the date of this announcement, the Company has not addressed the issues relating to the suspension of the dealing in its shares and the Company has not submitted any resumption proposal. A viable resumption proposal most importantly will need to demonstrate the Company's compliance with the GEM Listing Rules and all applicable laws and regulations. In particular, the proposal, if implemented, will enable the Company to demonstrate that it, directly or indirectly, has a sufficient level of operations and management expertise on the business pursuits of the Company to warrant the continued listing of the Company's securities on the Exchange. The issues relating to the suspension of the dealing in the Company's shares will need to be investigated and addressed to the Exchange's satisfaction.

In view of the prolonged suspension of dealing of the Company's shares and the absence of any resumption proposal, the Exchange proposes to exercise its right to cancel the listing of the Company on the Exchange. The Company has a period of six months from the date of this announcement for the submission of a viable resumption proposal and to remedy those matters that gave rise to the Exchange's proposal to cancel the listing of the Company. A viable resumption proposal should be submitted at least 10 business days as defined in the GEM Listing Rules before the expiry of the six-month period. If the Company has not submitted a viable resumption proposal as required, the Exchange intends to cancel the listing of the Company on the expiry of the six-month period from the date of this announcement (i.e. 29 May 2005).

The Exchange will make a further announcement in due course if the cancellation of the listing takes place.