SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                                                   PRINTED: 24/02/03  PAGE:   1
                                                                                      SUBSTANTIAL SHAREHOLDERS' NOTIFICATIONS REPORT

STOCK NAME :  Panda-Recruit                  (08073)        * ISC as at 19/02/03 :       1,125,000,000

Name of Sub. Shareholder   Date     Reason    Present Bal.     Previous Bal.             Share Jointly Held                          Corporate Interest                          Family Interest                  Note
------------------------ -------- ---------- ---------------  ---------------  -----------------------------------------  -----------------------------------------  ----------------------------------------- -----------
GREAT EAGLE HOLDINGS LI- 18/02/03 7              220,760,000      220,760,000                                             THE GREAT EAGLE COMPANY-      220,760,000                                            N1         
MITED                                                                                                                      LIMITED                                   

JOLLY TREND LIMITED      18/02/03 7              220,760,000      220,760,000                                             THE GREAT EAGLE COMPANY-      220,760,000                                            N1         
                                                                                                                           LIMITED                                   

LO KA SHUI               18/02/03 8              222,260,000      222,260,000                                             THE GREAT EAGLE COMPANY-      220,760,000                                            N1         
                                                                                                                           LIMITED                                   

SHUI SHING HOLDINGS LIM- 18/02/03 7              220,760,000      220,760,000                                             THE GREAT EAGLE COMPANY-      220,760,000                                            N1         
ITED                                                                                                                       LIMITED                                   

SHUI SING (BVI) LIMITED  18/02/03 7              220,760,000      220,760,000                                             THE GREAT EAGLE COMPANY-      220,760,000                                            N1         
                                                                                                                           LIMITED                                   

THE GREAT EAGLE COMPANY- 18/02/03 7              220,760,000      220,760,000                                                                                                                                  N1         
 LIMITED                                                                                                                                                             


                    * 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  *****


NOTE


N1      Please refer to the Company's announcement of 18 February 2003.