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)

ANNOUNCEMENT

The Board wishes to announce that the Cheung Directors have 
requested the Company, among other things, to investigate the 
events surrounding the Company's investment in the Wuhan Company.

The Board also refers to the Articles containing various statements 
in relation to the Company's affairs. The Company is in the process 
of consulting its legal advisers in relation to the Articles.

The Company has received a petition filed by legal counsel for the 
Cheung Directors against  inter alia, the Company and certain 
directors of the Company (the ``Petition'') shortly prior to the 
printing of this announcement.  The Company is in the process of 
consulting its legal advisers in relation to the Petition. 

Given the seriousness of the above matters, a Board meeting has been 
scheduled to be held at 4:00 p.m. on 29th February, 2000 to consider 
the appropriate action to be taken by the Board in respect of the 
above matters and whether an independent board committee should be 
formed to investigate the events surrounding the Company's 
investment in the Wuhan Company. 

Further announcement will be made to update shareholders on the 
result of the Board meeting.

REQUEST OF CERTAIN DIRECTORS

The directors of the Company (the ``Board'') refers to the 
announcement of the Company dated 17th February, 2000 in relation 
to, among other things, the Company's proposed sale of its interest 
in Wuhan Ocean Essence Water Factory Company Limited (``Wuhan 
Company'').

The Board wishes to state that two of the directors of the Company 
namely Mr. Cheung Yiu Wing and Mr. Cheung Wing Keung, Sammel 
(``Cheung Directors'') have requested through their legal counsel, 
among other things, that the Company's audit committee should 
investigate the events surrounding the Company's investment in the 
Wuhan Company.

CLARIFICATION OF CERTAIN ARTICLES

The Board also refers to certain articles appearing in certain 
magazine and newspapers published on 24th February, 2000, 25th 
February, 2000 and 26th February, 2000 (``Articles'') containing 
various statements in relation to the Company's affairs. The 
Company is in the process of consulting its legal advisers in 
relation to the Articles.

PETITION RECEIVED BY THE COMPANY AND CERTAIN DIRECTORS

The Company has received a petition filed by legal counsel for the 
Cheung Directors (the ``Petition'') against inter alia, the Company, 
Mr. Cheng Chao Ming, Jenson and other directors of the Company (Save 
for the Cheung Directors and all independent non-executive 
directors'') shortly prior to the printing of this announcement.  
The Company is in the process of consulting its legal advisers in 
relation to the Petition. 

OTHER DISCLOSEABLE INFORMATION

A board meeting has been scheduled to be held at 4:00p.m. on 29th 
February, 2000 to consider the appropriate action to be taken by 
the Board in respect of the requests from  the Cheung Directors, 
the Articles, the Petition and whether an independent board 
committee should be formed to investigate the events surrounding 
the Company's investment in the Wuhan Company.

Further announcement will be made by the Company following the Board 
meeting scheduled to be held on 29th February, 2000 to update 
shareholders on the result of the Board meeting.

APPROVAL OF THIS ANNOUNCEMENT

The publication of this announcement has been approved by Mr. Cheng 
Chao Ming, Jenson, Mr. Cheung Kung Tai, Mr. Zeng Xiang Zhi, Mr. Ching 
Kwok Leung, Mr. Xiong Pingbo, Paul, Ms. Cheung Lik Ping, Mr. Chen 
Vee Yong, Frederick and Mr. Hui Yat On, Kelvin. Each of the directors 
of the Company who approved this announcement take responsibility 
for the accuracy of this announcement. Mr. Cheung Yiu Wing, Mr. 
Cheung Wing Keung, Samuel, Dr. Charles W.B. Cheung J.P., Mr. Steven 
Kwan and Mr. Lee Sheung Wah, James were not contactable for the 
approval of this announcement prior to the time of printing.

In the meantime, shareholders and potential investors should take 
extreme caution when dealing in the securities of the Company.

Made by order of the Board
Xiong Pingbo, Paul
Director

Hong Kong,  26th February, 2000