SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 27/01/03  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - B
                                                            (GRANTS, ASSIGNMENTS AND EXERCISES OF RIGHTS)

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


NOTES


N1      Please refer to the Company's announcement of 22 January 2003.

N2      J.P. Morgan Trust Company (Jersey) Limited, formerly known as
        Chase Bank Trust Company (CI) Limited, acts as trustee of
        the Victor Trust.

N3      The present balance was arrived at pursuant to subscription of
        138,000,000 rights shares under the rights issue of the Company
        and 44,133,840 rights shares sold at HK$0.008 per rights share.

N4      Mr. Lai Tin Ying, Michael sold his rights shares of 2,186,434
        shares at the market on 16th January, 2003 at the price of
        HK$0.008 per rights share.