KING PACIFIC<0072> - 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.

KING PACIFIC INTERNATIONAL HOLDINGS LIMITED
(Incorporated with limited liability in Bermuda)

Further Delay of announcement of audited results
for the year ended 31st March, 1999
and despatch of 1999 annual report and accounts

Further to the announcement on 28th August, 1999, the board of 
Directors (the "Board") of King Pacific International Holdings 
Limited (the "Company") announces that the announcement of the 
final results of the Company for the year ended 31st March, 1999 
and despatch of 1999 annual report and accounts will be further 
delayed for the reasons set out below.

The delay in publication of the final audited results of the 
Company constituted a breach of paragraph 8(1) of the Listing 
Agreement by the Company and that Stock Exchange reserves its 
rights to take further actions against the Company as a result 
of the breach.

Further to the announcement on 28th August, 1999, the Board 
announces that due to delay in finalising the audited financial 
statements for the year ended 31st March, 1999, a meeting of the 
Board for approving the final results and publication of the final 
results in the newspaper, which was rescheduled to be held on 28th 
September, 1999, has been deferred. The reason for the deferral 
is that the Company's auditors need additional time to take 
further steps in order to complete the audit of a major jointly 
controlled entity. The delay in publication of the final audited 
results of the Company constituted a breach of paragraph 8(1) of 
the Listing Agreement by the Company and that Stock Exchange 
reserves its rights to take further actions against the Company 
as a result of the breach.

Accordingly, the meeting of the Board is further deferred and it 
is anticipated that such meeting will be held on 22nd October, 
1999 and the annual report to the Company's shareholders will be 
despatched on 28th October, 1999.

The directors have given their undertaking to the Stock Exchange 
that they will not deal in the securities of the Company until 
the final audited results of the Company for the year ended 31st 
March, 1999 are published on Monday, 25th October, 1999.

In the meantime, the Company advises its shareholders and 
investors to exercise caution when dealing in the Company's 
shares.

By order of the Board
Cheng Chao Ming
Managing Director

Hong Kong, 27th September, 1999