ANNOUNCEMENT -- In relation to the matter of Vision Tech International Holdings Limited (Stock Code: 922) Proceeding to the third stage of the delisting procedures as stipulated under Practice Note 17 to the Listing Rules

THE STOCK EXCHANGE OF HONG KONG LIMITED
(A wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited)

ANNOUNCEMENT

In relation to the matter of Vision Tech International Holdings Limited
(Stock Code: 922)
Proceeding to the third stage of the delisting procedures
as stipulated under Practice Note 17 to the
Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited (the Listing Rules)

The Stock Exchange of Hong Kong Limited (the Exchange) announces that effective from 17 September 2004, Vision Tech International Holdings Limited (the Company) will be put into the third stage of the delisting procedures in accordance with Practice Note 17 to the Listing Rules (the Delisting Procedures).  Practice Note 17 formalises the procedures to be adopted in dealing with long suspended companies.

Dealing in the shares of the Company has been suspended since 6 February 2003. The Company has been placed in the second stage of the Delisting Procedures pursuant to Practice Note 17 since 6 March 2004. Prior to the expiry of the second stage of the Delisting Procedures on 5 September 2004, the Company has not submitted a valid resumption proposal. A valid resumption proposal means a proposal that, if it were implemented, would enable the Company to demonstrate that it complies with Rule 13.24 of the Listing Rules. Rule 13.24 of the Listing Rules requires the Company to carry out, directly or indirectly, a sufficient level of operations or have tangible assets of sufficient value and/or intangible assets for which a sufficient potential value can be demonstrated to the Exchange to warrant the continued listing of the Company's securities on the Exchange.

In view of the absence of any resumption proposal prior to the expiry of the second stage of the Delisting Procedures and the Company's continued failure to demonstrate that it is able to meet the requirements as stipulated under Rule 13.24 of the Listing Rules, the Company will now proceed to the third stage of the Delisting Procedures.  The Company will have a final six months for the submission of a valid resumption proposal to the Exchange.  A viable resumption proposal should be submitted at least 10 business days before the expiry of the six-month period.  If the Company does not submit a valid resumption proposal as required, the Exchange intends to cancel the listing of the Company on the expiry of the six-month period from 17 September 2004 (i.e. 16 March 2005 ).

The Exchange will make a further announcement in due course if the delisting takes place.