SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - GEM                                              PRINTED: 31/07/00  PAGE:   1
                                                                                SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Panda-Recruit                  (8073)         * ISC as at 26/07/00 :       1,125,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  -----------------------------------------
AVENIR                   20/07/00 2,5            117,745,000             N.A.                                             UNITED COMMUNICATION LT-      117,745,000                            
                                                                                                                          D                                          

CAUDRON ROBERT           20/07/00 2,6            117,745,000             N.A.                                             J C DECAUX INT'L              117,745,000                            

CENTURY FAITH INVESTMEN- 20/07/00                331,140,000             N.A.                                                                                                                  
T LIMITED                                                                                                                                                            

CHOW YUNG                20/07/00 2,6            153,650,000             N.A.                                                                                                                  

DECAUX DANIELLE          20/07/00 2,6            117,745,000             N.A.                                             J C DECAUX INT'L              117,745,000  DECAUX JEAN CLAUDE            117,745,000

DECAUX JEAN CHARLES      20/07/00 2,5            117,745,000             N.A.                                             J C DECAUX INT'L              117,745,000                            

DECAUX JEAN CLAUDE       20/07/00 2,6            117,745,000             N.A.                                             J C DECAUX INT'L              117,745,000  DECAUX DANIELLE               117,745,000

DECAUX JEAN FRANCOIS     20/07/00 2,6            117,745,000             N.A.                                             J C DECAUX INT'L              117,745,000                            

DECAUX JEAN SEBASTIEN    20/07/00 2,6            117,745,000             N.A.                                             J C DECAUX INT'L              117,745,000                            

DECAUX S.A.              20/07/00 2,5            117,745,000             N.A.                                             AVENIR                        117,745,000                            

GREAT EAGLE HOLDINGS LI- 20/07/00                331,140,000             N.A.                                                                                                                  
MITED                                                                                                                                                                

J C DECAUX ASIA (S) PTE- 20/07/00 2,5            117,745,000             N.A.                                             J C DECAUX PEARL & DEAN-      117,745,000                            
 LIMITED                                                                                                                   LTD                                       


                    * ISC refers to the latest Issued Share Capital of the listed company recorded by the Exchange as at the date of this summaries.  It might not promptly reflect 
                      changes caused by share placements, rights issue, bonus issue, etc.  Readers should exercise caution when using these figures.
                                                                          SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - GEM                                              PRINTED: 31/07/00  PAGE:   2
                                                                                SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Panda-Recruit                  (8073)         * ISC as at 26/07/00 :       1,125,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  -----------------------------------------
J C DECAUX COMMUNICATIO- 20/07/00 2,5            117,745,000             N.A.                                             J C DECAUX ASIA (S) PTE-      117,745,000                            
N (T)                                                                                                                      LTD                                       

J C DECAUX INTERNATIONA- 20/07/00 2,5            117,745,000             N.A.                                             DECAUX S.A.                   117,745,000                            
L                                                                                                                                                                    

J C DECAUX PEARL & DEAN- 20/07/00 2              117,745,000             N.A.                                                                                                                 
 LIMITED                                                                                                                                                             

J C DECAUX PEARL & DEAN- 20/07/00 2              117,745,000             N.A.                                                                                                                  
 LIMITED                                                                                                                                                             

JOLLY TREND LIMITED      20/07/00                331,140,000             N.A.                                                                                                                  

LO KA SHUI               20/07/00 2              332,640,000             N.A.                                             CENTURY FAITH INV LTD         331,140,000                            

PUBLI PROMOTION NETWORK- 20/07/00 2,5            264,912,000             N.A.                                                                                                                  
 ASIA HOLDINGS LIMITED                                                                                                                                               

PUBLIGROUPE LIMITED      20/07/00 2,6            264,912,000             N.A.                                             PUBLI PROMOTION NETWORK-      264,912,000                            
                                                                                                                           ASIA HOLDINGS LTD                         

SHUI SING (BVI) LIMITED  20/07/00                331,140,000             N.A.                                                                                                                  

SHUI SING HOLDINGS LIMI- 20/07/00                331,140,000             N.A.                                                                                                                  
TED                                                                                                                                                                  


                    * ISC refers to the latest Issued Share Capital of the listed company recorded by the Exchange as at the date of this summaries.  It might not promptly reflect 
                      changes caused by share placements, rights issue, bonus issue, etc.  Readers should exercise caution when using these figures.
                                                                          SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - GEM                                              PRINTED: 31/07/00  PAGE:   3
                                                                                SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Panda-Recruit                  (8073)         * ISC as at 26/07/00 :       1,125,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  -----------------------------------------
THE GREAT EAGLE COMPANY- 20/07/00                331,140,000             N.A.                                                                                                                  
 LIMITED                                                                                                                                                             

UNITED COMMUNICATION LI- 20/07/00 2,5            117,745,000             N.A.                                             J C DECAUX PEARL & DEAN-      117,745,000                            
MITED                                                                                                                      LTD                                       


                    * ISC refers to the latest Issued Share Capital of the listed company recorded by the Exchange as at the date of this summaries.  It might not promptly reflect 
                      changes caused by share placements, rights issue, bonus issue, etc.  Readers should exercise caution when using these figures.

                                                                                         *****  END OF REPORT  *****