The Extraordinary General Meeting (“EGM”) of the Company was held at Concord Rooms, 8th Floor, Renaissance Harbour View Hotel on 2 February 2004. The directors who attended the meeting including Mr. Chen Xiaoping (Chief Executive Officer), Mr. Fan Yan Hok, Philip (General Manager), Mr. Huang Chaohua (Assistant General Manager), Mr. Wong Kam Chung, Raymond (Chief Financial Officer), Mr. Chen Shuang, Sir David Akers-Jones (Independent Non-executive Director) and Mr. Lee Ka Sze, Carmelo (Independent Non-executive Director).

In the Meeting, the shareholders passed a special resolution approving the reduction of Share Premium Account of the Company and that the same amount of credit arising from such reduction be applied to set off against the accumulated losses of the Company, subject to such conditions as the Court may impose. After the EGM, the management held a press conference, during which executive directors addressed questions raised by the reporters.