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 in Bermuda with limited liability)

EXTENSION OF TIME FOR DESPATCH OF CIRCULAR

Summary

The directors of King Pacific International Holdings Limited 
announce that an application has been made to The Stock Exchange 
of Hong Kong Limited for an extension of the time for despatch 
of a circular to its shareholders in relation to, among other 
things, the Acquisition and the Subscription until 14th 
February, 2000.

Reference is made to the announcement ("Announcement") of King 
Pacific International Holdings Limited ("Company") dated 8th 
January, 2000 in relation to, among other things, the 
Acquisition and the Subscription. Terms defined in the 
Announcement have the same meanings herein unless otherwise 
specified.

Pursuant to Rule 14.13(2) of the Listing Rules, a circular 
("Circular") containing, among other things, details of the 
Acquisition and the Subscription has to be despatched to the 
shareholders within 21 days after the date of the Announcement. 
Accordingly, the latest date of despatch of the Circular is 
30th January, 2000.

Since the Company is still in the process of gathering and 
finalizing relevant information to be included in the Circular, 
an application has been made by the Company to the Stock Exchange 
for an extension of the time for despatch of the Circular to 
its shareholders on or before 14th February, 2000.

The Company wishes to remind the shareholders that the 
Acquisition Agreement and the Subscription Agreement have not 
been completed yet. The Acquisition Agreement and the 
Subscription Agreement are subject to certain conditions and 
if such conditions cannot be fulfilled, further announcement 
will be made regarding the progress. Shareholders of the 
Company and investors are advised to exercise caution in 
dealing the Shares.

On behalf of the board of 
King Pacific International Holdings Limited 
Xiong Pingbo, Paul
Director

Hong Kong, 27th January, 2000