SIU-FUNG HOLD<0395> - Announcement

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.


                   SIU-FUNG CERAMICS HOLDINGS LIMITED
              (incorporated in Bermuda with limited liability)
 
                              ANNOUNCEMENT

-  The court hearing has been extended by the court to 6th
July, 1999.

-  The  recent  fluctuation  in the price and the trading volume of the
shares in the Company is clarified.


The  board  of directors (the `Board') of Siu-Fung Ceramics Holdings
Limited  (the `Company') refer to an announcement on 19th May, 1999 in
respect  of  the  winding-up petitions by The Hongkong and Shanghai
Banking  Corporation Limited. The scheduled hearing of 24th May, 1999
has been extended by the court to 6th July, 1999.

The  Board  also  noted the recent fluctuation in the price and the
trading  volume  of the shares in the Company and wish to state that,
save  as the aforesaid and the litigation information as announced on
18th  May,  1999,  the  Company is not aware of any reason for such
fluctuation.  In  addition, apart from the aforesaid, the Company is
not  aware  that  there  are negotiations or agreements relating to
intended  acquisitions  or realisations which are discloseable under
paragraph  3  of the Listing Agreement, and that there is any matter
discloseable  under  the general obligation imposed by paragraph 2 of
the  Listing  Agreement,  which  is or may be of a price-sensitive
nature.

The  shareholders  of the Company and the potential investors should
exercise  extreme  caution when dealing in the shares of the Company
and advised to consult their advisers if they think fit.

A  further  announcement  will be made as soon as practicable of any
material development in respect of the matters referred to above.

                               By order of the Board         
                               Siu-Fung Ceramics Holdings Limited
                               Lee Siu Fung, Siegfried                    
                               Chairman                      
                                                             
Hong Kong, 24th May, 1999

The  directors  of  the  Company  jointly  and  severally accept
responsibility  for the accuracy of the information contained in this
announcement  and confirm, having made all reasonable enquiries, that
to  the  best  of  their  knowledge,  opinions expressed in this
announcement  have been arrived at after due and careful consideration
and  there are no other facts not contained in this announcement, the
omission  of  which  would  make any statement in this announcement
misleading.