SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                                                   PRINTED: 25/11/02  PAGE:   1
                                                                                      SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Panda-Recruit                  (08073)        * ISC as at 18/11/02 :       1,125,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
LAU CHUK KIN             19/11/02 1,5            382,903,000      382,873,000                                             CITY APEX LTD.                382,903,000                                                       


                    * 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      These shares are acquired subject to the lock-up provisions in the
        Subscription Agreement dated 23 August 2001 as disclosed in the
        Prospectus of WorldMetal dated 19 October 2001.

N2      There is no change in shareholdings for the rest of the associated
        companies of Convenience Retail Asia Ltd. except those indicated
        in this Summaries.  For the detail of their shareholdings, please
        refer to the SDI Daily Summaries published on 02/02/2001.

N3      902,529 shares were sold at a total consideration of HK$756,319.

N4      The name of "JDH (China) Limited" has been changed to
        "Fu Gold Distribution Limited" on November 15, 2002.

N5      The name of "iLiFung.Com Limited" has been changed to
        "Ultimate Quest Limited" on November 15, 2002.