SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 19/02/03  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - B
                                                            (GRANTS, ASSIGNMENTS AND EXERCISES OF RIGHTS)

 STOCK NAME : Sino Biopharm                  (08027)

       Director/Chief Executive        G/E     Class                 Company Name                 Quantity       Exercise Period   Ex. Price  Consideration       Note
 ------------------------------------  --- ---------------  -------------------------------  ------------------  ---------------  ---------- ---------------  -----------
 WANG JIN YU                            G  ORD              SINO BIOPHARMACEUTICAL LIMITED            300,000    020104-010107        0.740                1             

                                        G  ORD              SINO BIOPHARMACEUTICAL LIMITED            300,000    020105-010107        0.740                1             

 LING PEIXUE                            G  ORD              SINO BIOPHARMACEUTICAL LIMITED            300,000    020104-010107        0.740                1             

                                        G  ORD              SINO BIOPHARMACEUTICAL LIMITED            300,000    020105-010107        0.740                1             

 STOCK NAME : VC Holdings                    (08101)

       Director/Chief Executive        G/E     Class                 Company Name                 Quantity       Exercise Period   Ex. Price  Consideration       Note
 ------------------------------------  --- ---------------  -------------------------------  ------------------  ---------------  ---------- ---------------  -----------
 KO CHUN FUNG HENRY                     G  ORD              VALUE CONVERGENCE HOLDINGS LIM-        31,365,103                         0.360                1  N2         
                                                            ITED                          

 CHENG KAR SHING PETER                  G  ORD              VALUE CONVERGENCE HOLDINGS LIM-         7,350,000                         0.360                1  N2         
                                                            ITED                          

 LEE JUN SING                           G  ORD              VALUE CONVERGENCE HOLDINGS LIM-        31,365,103                         0.360                1  N2         
                                                            ITED                          

 HO YAU LUNG LAWRENCE                   G  ORD              VALUE CONVERGENCE HOLDINGS LIM-         7,350,000                         0.360                1  N2         
                                                            ITED                          

 HO HUNG SUN STANLEY                    G  ORD              VALUE CONVERGENCE HOLDINGS LIM-         7,350,000                         0.360                1  N2         
                                                            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.