SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                                                   PRINTED: 27/05/02  PAGE:   1
                                                                                      SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Excel Tech                     (08048)        * ISC as at 22/05/02 :         985,050,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
ZEE CHAN MEI CHU PEGGY   22/05/02 1,5,6          574,724,044      574,764,044                                             PASSION INV (BVI) LTD         574,496,044                                            N1         

STOCK NAME :  Panda-Recruit                  (08073)        * ISC as at 22/05/02 :       1,125,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
LO KA SHUI               17/05/02                222,260,000      222,260,000                                             THE GREAT EAGLE CO LTD        220,760,000                                            N2         

STOCK NAME :  Town Health                    (08138)        * ISC as at 22/05/02 :         691,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
CHAN WING LOK BRIAN      21/05/02                180,475,846       42,275,846                                             ORIGIN LTD                    180,475,846                                            N3         

CHO KAM LUK              21/05/02                180,475,846       42,275,846                                             ORIGIN LTD                    180,475,846                                            N3         

CHO KWAI CHEE            21/05/02 3,5,7          180,475,846       42,275,846                                             ORIGIN LTD                    180,475,846                                            N3         

FUNG YIU TONG BENNET     21/05/02                180,475,846       42,275,846                                             ORIGIN LTD                    180,475,846                                            N3         

ORIGIN LIMITED           21/05/02 1,3,6          180,475,846       42,275,846                                                                                                                                  N3         


                    * 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  *****
Notes:


N1     40,000 shares transferred to employees pursuant to the Share Option
       Scheme at HK$0.0138 per share.

N2     Retired as director at the Annual General Meeting held on 17/05/2002
       and remains as a substantial shareholder.

N3     Please refer to the Company's announcements of 8 May 2002 and
       21 May 2002.