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 Riverhill Holdings Limited (Stock Code: 8127)
Cancellation of listing
in accordance with 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") announces that the listing of the shares of Riverhill Holdings Limited (the "Company") will be cancelled with effect from 9:30 a.m. on 18 October 2005 in accordance with Rule 9.14 of the GEM Listing Rules.

Dealings in the shares of the Company have been suspended since 24 July 2003.  On 11 November 2004, the Company announced that the Exchange proposed to exercise its right to cancel the listing of the shares of the Company on the Exchange.  The Company was given a period of six months (expiring on 4 May 2005) for the submission of a valid resumption proposal and to remedy those matters that gave rise to the Exchange's proposal to cancel the listing of the Company.  The Company was required to submit such resumption proposal at least 10 business days as defined in the GEM Listing Rules before the expiry of the six-month period.  A resumption proposal was submitted to the Exchange on 4 March 2005.  However, the GEM Listing Committee decided that the resumption proposal was not viable.  The Company disagreed with the GEM Listing Committee's decision and subsequently appealed to the GEM Listing (Review) Committee.  The GEM Listing (Review) Committee upheld the GEM Listing Committee's decision and the Exchange will cancel the listing of the Company's shares with effect from 9:30 a.m. on 18 October 2005.

The Exchange has notified the Company of its obligation under Rule 9.17 to publish an announcement providing details of the Exchange's decision and the consequences to shareholders of the Company.

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