SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 19/02/03  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - A
                                                                        (ACTUAL TRANSACTIONS)

 STOCK NAME : Excel Tech                     (08048)

      Director/Chief Executive                Class                   Company Name            Tran. Date   Present Bal.   Previous Bal.  A/D Consideration     Note
 ------------------------------------  ---------------------  ------------------------------- ---------- --------------- --------------- --- -------------  -----------
 ZEE CHAN MEI CHU PEGGY                ORD                    EXCEL TECHNOLOGY INTERNATIONAL-  13/02/03      571,492,544     571,522,544  D         0.014   N1         
                                                               HOLDINGS LIMITED             

 STOCK NAME : Sino Biopharm                  (08027)

      Director/Chief Executive                Class                   Company Name            Tran. Date   Present Bal.   Previous Bal.  A/D Consideration     Note
 ------------------------------------  ---------------------  ------------------------------- ---------- --------------- --------------- --- -------------  -----------
 WANG JIN YU                           ORD                    SINO BIOPHARMACEUTICAL LIMITED   14/02/03        8,880,000       9,280,000  D         1.850              

 LING PEIXUE                           ORD                    SINO BIOPHARMACEUTICAL LIMITED   14/02/03                0         400,000  D         1.850              

 STOCK NAME : Timeless                       (08028)

      Director/Chief Executive                Class                   Company Name            Tran. Date   Present Bal.   Previous Bal.  A/D Consideration     Note
 ------------------------------------  ---------------------  ------------------------------- ---------- --------------- --------------- --- -------------  -----------
 CHENG KIN KWAN                        ORD                    TIMELESS SOFTWARE LTD            17/02/03       97,008,000      96,018,000  A         0.132              

 STOCK NAME : VC Holdings                    (08101)

      Director/Chief Executive                Class                   Company Name            Tran. Date   Present Bal.   Previous Bal.  A/D Consideration     Note
 ------------------------------------  ---------------------  ------------------------------- ---------- --------------- --------------- --- -------------  -----------
 KO CHUN FUNG HENRY                    ORD                    VALUE CONVERGENCE HOLDINGS LIM-    /  /         42,370,251      42,370,251            0.000              
                                                              ITED                          

 CHENG KAR SHING PETER                 ORD                    VALUE CONVERGENCE HOLDINGS LIM-    /  /         52,809,819      52,809,819            0.000              
                                                              ITED                          

 LEE JUN SING                          ORD                    VALUE CONVERGENCE HOLDINGS LIM-    /  /         62,997,029      62,997,029            0.000              
                                                              ITED                          

 HO YAU LUNG LAWRENCE                  ORD                    VALUE CONVERGENCE HOLDINGS LIM-    /  /         42,326,273      42,326,273            0.000              
                                                              ITED                          
                                                    SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 19/02/03  PAGE:   2
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - A
                                                                        (ACTUAL TRANSACTIONS)

 STOCK NAME : VC Holdings                    (08101)

      Director/Chief Executive                Class                   Company Name            Tran. Date   Present Bal.   Previous Bal.  A/D Consideration     Note
 ------------------------------------  ---------------------  ------------------------------- ---------- --------------- --------------- --- -------------  -----------
 HO HUNG SUN STANLEY                   ORD                    VALUE CONVERGENCE HOLDINGS LIM-    /  /         73,846,513      73,846,513            0.000              
                                                              ITED                          

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


NOTES


N1      30,000 shares were transferred to employees pursuant to the Share
        Option Scheme at HK$0.0138 per share.

N2      The number of securities & exercise price have been adjusted as a
        result of rights issue.