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 Company has entered into two supplemental agreements on 29th 
February, 2000 amending respectively the Acquistion Agreement and 
the Subscription Agreement by extending the Condition Date to 31st 
March, 2000.

The Board wish to announce that Mr. Steven Kwan and Mr. Lee Sheung 
Wah, James resigned as independent non-executive directors of the 
Company.

Further announcements will be issued to update shareholders in 
relation to the Acquisition Agreement and the Subscription 
Agreement and the result of the Board meeting held on 29th February, 
2000 as and when necessary.

Extention of the acquisition agreement and the subscription 
agreement

The directors of King Pacific International Holdings Limited (the 
``Company'') refers to the announcement of the Company dated 8th 
January, 2000 (the ``Announcement'') in relation to the conditional 
sale and purchase agreement dated 3rd January, 2000 (``Acquisition 
Agreement'') entered into by the Company for the purchase of 12.865% 
of the issued share capital of Plexus Multimedia Pte Limited 
(``Plexus'') and the conditional subscription agreement dated 3rd 
January, 2000 relating to the subscription of shares of the Company 
by Inner City Profits Limited (``Subscription Agreement''). For 
details of the Acquisition Agreement and the Subscription Agreement, 
shareholders should refer to the Announcement.

As set out in the Announcement, both the Acquisition Agreement and 
the Subscription Agreement are subject to conditions set out 
therein being fulfilled by 29th February, 2000 (``Condition Date''). 
The directors of the Company wish to announce that on 29th February, 
2000, the Company has entered into two supplemental agreements with 
the respective parties of the Acquisition Agreement and the 
Subscription Agreement amending the respective terms of each of the 
Acquisition Agreement and the Subscription Agreement by extending 
the Condition Date to 31st March, 2000.

A resolution approving the above supplemental agreements was passed 
at a Board meeting held on 29th February, 2000. Mr. Cheung Yiu Wing 
and Mr. Cheung Wing Keung, Samuel were absent from the meeting, but 
informed the Board through their legal advisors in writing before 
the commencement of the meeting that they remain neutral in the 
extension of the Acquisition Agreement and the Subscription 
Agreement  and their position remains that these agreements ought 
to be thoroughly studies before further commitment is made by the 
Company. At the time of passing this resolution, Mr. Steven Kwan 
and Mr. Lee Sheung Wah, James have already left the meeting and 
therefore did not cast their vote on this resolution. 

Resignation of directors

The Board wish to announce that Mr. Steven Kwan and Mr. Lee Sheung 
Wah, James resigned as independent non-executive directors of the 
Company on 29th February, 2000 and upon this resignation, Dr. 
Charles W.B. Cheung J.P. shall continue as an independent 
non-executive director of the Company.

Approval of this announcement

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

Further announcements will be issued to update shareholders in 
relation to the Acquisition Agreement and Subscription Agreement 
and the result of the Board meeting held on 29th February, 2000 as 
and when necessary.

The Company wishes to remind the shareholders that the Acquisition 
Agreement and the Subscription Agreement as described in its 
announcement dated 8th January, 2000 are not completed yet and are 
subject to certain conditions. In the meantime, shareholders and 
potential shareholders should take extreme caution when dealing in 
the securities of the Company.

Made by order of the board 
Xiong Pingbo, Paul 
Director

Hong Kong, 29th February, 2000