SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                                                   PRINTED: 12/02/03  PAGE:   1
                                                                                      SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Sing Pao Media                 (08010)        * ISC as at 11/02/03 :         468,424,181

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
FIRST STAR INTERNATIONA- 24/11/03 1              258,066,950                0                                                                                                                                  N1         
L LIMITED                                                                                                                                                            

STOCK NAME :  VC Holdings                    (08101)        * ISC as at 11/02/03 :       2,381,550,003

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
BAILEY DEVELOPMENT LIMI- 05/02/03 3,5,7           73,846,513       73,846,513                                                                                                                                  N2         
TED                                                                                                                                                                  

MELCO FINANCE AND TECHN- 05/02/03 1,2,5        1,679,303,811             N.A.                                                                                                                                  N2         
OLOGY LIMITED                                                                                                                                                        

MELCO INTERNATIONAL DEV- 05/02/03 1,2,4,5      1,679,303,811             N.A.                                             MELCO FINANCE AND TECHN-    1,679,303,811                                            N2         
ELOPMENT LIMITED                                                                                                          OLOGY 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  *****

NOTES


N1      Pursuant to an agreement dated 23 November 2002 ("Agreement") made
        between Sun Media Group Holdings Limited ("Sun Media"), China
        Strategic Holdings Limited, Hanny Holdings Limited and Star East
        Holdings Limited (collectively "Vendors"), Sun Media agrees to
        purchase and the Vendors agrees to sell a total of 258,066,950
        shares in the capital of Sing Pao Media Group Limited ("Sing
        Pao"), warrants of Sing Pao in an aggregate amount of
        HK$35,108,750 and a loan due from Sing Pao group to the Vendors in
        a sum of HK$40 million.  Completion took place on 24 January 2003.
        First Star International Limited is a wholly-owned subsidiary of
        Sun Media.

N2      Please refer to the Company's announcement of 4 February 2003.

N3      Appointed as a Director of the Company on 31 January 2003.

N4      By way of gift without consideration.