GRANDE HOLDINGS<0186> & TOYO HOLDINGS<0094> - Joint 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.
                
THE GRANDE HOLDINGS LIMITED     
(Incorporated in Bermuda with limited liability)

TOYO HOLDINGS LIMITED
(Incorporated in Bermuda with limited liability)
        
CONNECTED TRANSACTION   CONNECTED AND
ASSET ACQUISITION       DISCLOSEABLE TRANSACTION

ASSET DISPOSITION

Financial adviser to Toyo Holdings Limited

PACIFIC CHALLENGE
Pacific Challenge Capital Limited

The respective boards of directors of The Grande Holdings Limited 
and Toyo Holdings Limited wish to announce that Toyo and Tomei 
Technologies, a wholly owned subsidiary of Grande, have entered into 
a conditional sale and purchase agreement whereby Tomei Technologies 
has conditionally agreed to purchase from Toyo the entire issued 
share capital of Tomei BVI at a cash consideration of HK$181,429,000.

Grande, being the controlling shareholder of Toyo, beneficially owns 
approximately 50.11% of the shareholding interest of Toyo. The 
Agreement constitutes a connected transaction for Toyo under the 
Listing Rules, and is required under the Listing Rules to be 
conditional upon the approval of the independent shareholders of 
Toyo in the SGM to be convened by Toyo. A Circular containing 
further details of the Agreement and a notice to convene the SGM to 
approve the acquisition of the entire issued share capital of Temei 
BVI will be despatched to the shareholders of Toyo as soon as 
practicable. An independent financial adviser will be appointed to 
advise the independent board committee of Toyo in relation to the 
Agreement.

As the transaction contemplated under the Agreement is a transaction 
between Tomei Technologies, Grande's wholly owned subsidiary, and 
Toyo, Grande's non-wholly owned subsidiary, the Agreement 
constitutes a connected transaction for Grande under the Listing 
Rules. However, insofar as the directors of Grande are aware, none 
of the substantial shareholders has any interest in Toyo otherwise 
than indirect interest in Toyo through Grande. Barrican Investments 
Corporation, a controlling shareholder of Grande with approximately 
70.8% shareholding interest as at the date of this announcement, has 
expressed that it will vote in favour of the acquisition of the 
entire issued share capital of Tomei BVI. Barrican will submit to 
the Stock Exchange a written confirmation that it will vote in 
favour of the acquisition if a shareholders' meeting were to be 
held. Grande will apply to the Stock Exchange for a waiver under 
rule 14.10 of the Listing Rules to convene a shareholders' meeting 
to approve the acquisition by Tomei Technologies as described in 
this announcement. A circular containing further details of the 
Agreement will be despatched to the shareholders of Grande as soon 
as practicable. An independent financial adviser will be appointed 
to advise the independent board committee of Grande in relation to 
the Agreement.

THE SALE AND PURCHASE AGREEMENT DATED 2nd April, 2000 (the 
"Agreement")

Parties
Vendor          :       Toyo Holdings Limited ("Toyo")
Purchaser       :       Tomei Technologies Limited ("Tomei Technologies"), 
a wholly owned subsidiary of the Grande Holdings Limited ("Grande") 
incorporated in the British Virgin Islands with limited liability.

Assets to be acquired
Tomei Technologies has conditionally agreed to acquire the 50,000 
shares of US$1.00 each (the "Sale Shares") in Tomei International 
(BVI) Limited ("Tomei BVI"), being the entire issued share capital 
of Tomei BVI. Tomei BVI, a company incorporated in the British 
Virgin Islands with limited liability, is a wholly owned subsidiary 
of Toyo.

Consideration
The consideration for the Sale Shares is HK$181,429,000 (the "Sale 
Price"), which was agreed upon after arm's length negotiation 
between Toyo and Tomei Technologies. Tomei Technologies shall pay 
the Sale Price in cash to Toyo at completion of the Agreement (the 
"Completion").

Condition of the Agreement
Completion is conditional upon the obtaining of the approval from 
the independent shareholders of Toyo and all other necessary 
approvals as required by The Rules governing the Listing of 
Securities (the "Listing Rule") on The Stock Exchange of Hong Kong 
Limited (the "Stock Exchange") on or before 23rd July, 2000 or such 
later date as may be agreed between Toyo and Tomei Technologies (the 
"Condition").

Completion
Completion will take place on the next business day following the 
satisfaction of the Condition.

INFORMATION ON TOYO
Toyo and its subsidiaries (the "Toyo Group") are principally engaged 
in the design, manufacture and sale of popular priced consumer audio 
and video products, components and other consumer products. The Toyo 
Group has recently divested its business into the field of internet 
business-to-business commerce by the acquisition of the entire 
shareholding interest of Asia eMarket Limited which beneficially 
owns 50% shareholding interest of Bizipoint.com Limited, the 
principal business of which is the operation of Bizipoint.com, a 
vertical business-to-business trade and business application portal 
in the computer and electronics industry.

INFORMATION ON GRANDE
Tomei Technologies is a wholly owned subsidiary of Grande. Grande 
and its subsidiaries are principally engaged in the design, 
development, manufacture and distribution of computer peripheral, 
consumer electronic products and high-end consumer audio products. 
Grande is a controlling shareholder of Toyo with approximately 
50.11% shareholding interest of Toyo.

INFORMATION ON TOMEI BVI
Tomei BVI is a wholly owned subsidiary of Toyo. Tomei BVI and its 
subsidiaries (the "Tomei BVI Group") are principally engaged in the 
manufacturing and trading of electronic products and components, and 
the trading of plastic materials. The unaudited draft consolidated 
net asset value and net profit of Tomei BVI for the year ended 31st 
December, 1999 were approximately HK$72.88 million and HK$15.24 
million respectively. The Sale Price represents approximately 2.5 
times the unaudited draft consolidated net asset value as at 31st 
December, 1999 and approximately 11.9 times the unaudited draft 
consolidated net profit for the year ended 31st December, 1999.

REASONS AND BENEFITS FOR THE SALE AND PURCHASE
The acquisition of the Tomei BVI Group by Tomei Technologies will 
further enhance the ability of Grande to allocate its manufacturing 
resources and facilities more efficiently and to provide better 
services to the customers of Grande.

The disposal of the Tomei BVI Group by Toyo will generate additional 
funds for the Toyo Group to improve and strengthen its working 
capital position. The Sale Price was determined after arm's length 
negotiation between Toyo and Tomei Technologies, and was based on 
the net assets value of Tomei BVI plus a reasonable premium. The 
directors of Toyo consider the terms of the Agreement as fair and 
reasonable based on the net assets value of Tomei BVI and the 
premium received from the disposition.

USE OF PROCEEDS OF TOYO
The net proceeds to be received by Toyo upon Completion will be used 
as general working capital for the Toyo Group.

GENERAL
Grande, being the controlling shareholder of Toyo, beneficially owns 
approximately 50.11% of the shareholding interest of Toyo. The 
Agreement constitutes a connected transaction for Toyo under the 
Listing Rules, and is required under the Listing Rules to be 
conditional upon the approval of the independent shareholders of 
Toyo in the special general meeting (the "SGM") to be convened by 
Toyo. A Circular containing further details of the Agreement and a 
notice to convene the SGM to approve the acquisition of the entire 
issued share capital of Temei BVI will be despatched to the 
shareholders of Toyo as soon as practicable. An independent 
financial adviser will be appointed to advise the independent board 
committee of Toyo in relation to the Agreement.

As the transaction contemplated under the Agreement is a transaction 
between Tomei Technologies, Grande's wholly owned subsidiary, and 
Toyo, Grande's non-wholly owned subsidiary, the Agreement 
constitutes a connected transaction for Grande under the Listing 
Rules. However, insofar as the directors of Grande are aware, none 
of the substantial shareholders has any interest in Toyo otherwise 
than indirect interest in Toyo through Grande. Barrican Investments 
Corporation ("Barrican"), a controlling shareholder of Grande with 
approximately 70.8% shareholding interest as at the date of this 
announcement, has expressed that it will vote in favour of the 
acquisition of the entire issued share capital of Tomei BVI. 
Barrican will submit to the Stock Exchange a written confirmation 
that it will vote in favour of the acquisition if a shareholders' 
meeting were to be held. Grande will apply to the Stock Exchange for 
a waiver under rule 14.10 of the Listing Rules to convene a 
shareholders' meeting to approve the acquisition by Tomei 
Technologies as described in this announcement. A Circular 
containing further details of the Agreement will be despatched to 
the shareholders of Grande as soon as practicable. An independent 
financial adviser will be appointed to advise the independent board 
committee of Grande in relation to the Agreement.

By order of the Board                   By order of the Board
The Grande Holdings Limited             Toyo Holdings Limited
Christopher W. Ho                       Christopher W. Ho
President and Group Chief Executive     Executive Chairman

Hong Kong, 3rd April, 2000