EURO-ASIA AGRIC<00932> - Announcement

The Stock Exchange has received a message from Euro-Asia Agricultural 
(Holdings) Company Limited which is reproduced as follows:-

"The Board of Directors (the "Board") of Euro-Asia Agricultural (Holdings) 
Company Limited (the "Company", the Company and its subsidiaries 
collectively the "Group") would like to clarify the recent false reports 
and rumors of its Chairman, Mr. Yang Bin and the Group.

The Board seriously and firmly states that Mr. Yang is only away for a 
business trip and he always keeps in contact with the Company and the 
management.  He is back in Shenyang, PRC today.  Besides, the Group has 
not been investigated by relevant PRC government departments for suspicion 
of illegal land use, tax evasion or insider dealing.  Moreover, the 
Group has not illegally used any land or committed any tax evasion.  All 
operations of the Group are in strict compliance with the Listing Rules of 
the Stock Exchange of Hong Kong Limited, as well as the legal and 
regulatory requirements of Hong Kong and PRC.

By order of the Board
Lam Pui Man
Director

12 July 2002"