The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Champion Technology Holdings Limited
(incorporated in the Cayman Islands with limited liability)

ANNOUNCEMENT

CLOSURE OF REGISTER OF MEMBERS FOR THE PURPOSE OF DETERMINING THE ENTITLEMENT OF CERTAIN SHAREHOLDERS OF CHAMPION TECHNOLOGY HOLDINGS LIMITED TO NEW SHARES OF HK$0.1 EACH IN THE CAPITAL OF UNDER THE ASSURED PREFERENTIAL OFFER

Financial advisers

SUMMARY

• It was announced on 25th February, 2000 that the Company made a confidential submission to the Stock Exchange in respect of the possible spin-off and separate listing of the shares of Y28.COM on GEM.
  
  
•   *In order to enable the Shareholders to participate in the Share Offer, Shareholders (i) who are not the Excluded Champion Shareholders; (ii) whose names appear on the register of members of the Company on the Record Date of 3rd May, 2000 and (iii) whose addresses stated therein on that date are in Hong Kong will be invited to apply for Reserved Entitlement Shares at an offer price to be determined on an assured basis.
  
  
•    In order to be eligible for the Assured Preferential Offer, all transfers accompanied by the relevant share certificates must be lodged with the branch registrars of the Company not later than 4:00 p.m. on Tuesday, 2nd May, 2000.
  
  
•    The proposed separate listing of Y28.COM is subject to, among other things, the approval of the Stock Exchange and may or may not proceed. Shareholders will therefore have to bear the risk of lodging their shares of the Company if the Share Offer does not proceed.
  
  
•    Shareholders will be advised of further information, including the terms of the Assured Entitlements, as soon as the terms of the Share Offer are finalised. In the meantime, Shareholders are reminded to exercise caution when dealings in the securities of the Company.

Further to the announcement on 25th February, 2000, the Board would like to state that in order to enable Shareholders to participate in the Share Offer on a preferential basis, Shareholders
(i) who are not the Excluded Champion Shareholders;
(ii) whose names appear on the register of members of the Company at the close of business on the Record Date of 3rd May, 2000 and
(iii) whose addresses stated therein on that date are in Hong Kong, i.e. Qualifying Champion Shareholders, will be invited to apply for a certain number of Reserved Entitlement Shares of Y28.COM at an offer price to be determined on an assured basis on terms and conditions that are subject to finalisation by the Board.

For the purpose of determining the entitlement of the Qualifying Champion Shareholders to the shares of Y28.COM pursuant to the Assured Preferential Offer, the register of members of the Company will be closed one day on 3rd May, 2000, on which no transfer of the shares of the Company will be effected.

In order to be eligible for the Assured Preferential Offer, all transfers of shares of the Company accompanied by the relevant share certificates and, in case of holders of warrants of the Company, all duly completed subscription forms accompanied by the relevant warrant certificates and the appropriate subscription moneys, must be lodged with the branch registrar of the Company, Secretaries Limited at 5th Floor, Wing On Centre, 111 Connaught Road Central, Hong Kong, not later than 4:00 p.m. on Tuesday, 2nd May, 2000.

FURTHER INFORMATION

The Share Offer is still subject to the approval of the Stock Exchange. Shareholders should also note that the Board may decide not to proceed with the Share Offer if it decides that the market conditions prevailing at the time immediately before the Share Offer are unfavourable. Shareholders will therefore have to bear the risk of lodging their shares of the Company for registration if the Share Offer does not proceed.

Shareholders will be advised of further information, including the terms of the Assured Entitlements, as soon as the terms of the Share Offer are finalised. In the meantime, Shareholders are reminded to exercise caution when dealing in the securities of the Company.

18th April, 2000
DEFINITION