SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 26/02/02  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - B
                                                            (GRANTS, ASSIGNMENTS AND EXERCISES OF RIGHTS)

 STOCK NAME : Blu Spa                        (08176)

       Director/Chief Executive        G/E     Class                 Company Name                 Quantity       Exercise Period   Ex. Price  Consideration       Note
 ------------------------------------  --- ---------------  -------------------------------  ------------------  ---------------  ---------- ---------------  -----------
 LAW KIN MING ALFRED                    G  ORD              BLU SPA HOLDINGS LIMITED                4,100,000                         0.300                1             

 CHAN CHOI HAR IVY                      G  ORD              BLU SPA HOLDINGS LIMITED               10,250,000                         0.300                1             

 NG KWOK TUNG                           G  ORD              BLU SPA HOLDINGS LIMITED                  820,000                         0.300                1             

 MOORE DOUGLAS HOWARD                   G  ORD              BLU SPA HOLDINGS LIMITED                  820,000                         0.300                1             

 LOO PECK HWEE CELENE                   G  ORD              BLU SPA HOLDINGS LIMITED                8,200,000                         0.300                1             

 RAJEWSKI NATALIE N                     G  ORD              BLU SPA HOLDINGS LIMITED                8,200,000                         0.300                1             

 WAI SUK CHONG HELENA                   G  ORD              BLU SPA HOLDINGS LIMITED                2,050,000                         0.300                1             

                                                                     *****  END OF REPORT  *****
Notes:


N1     Consideration per unit : $0.068 - $0.070

N2     Consideration per unit : $0.067 - $0.069