401 HOLDINGS<00401> - Share Consolidation

Market participants are requested to note that the ordinary
shares of HK$0.01 each ("Old Shares") in the capital of 401 Holdings
Limited will be consolidated into ordinary shares of HK$0.1 (after capital 
reduction) each("New Shares") on the basis of 50 into 1 subject to its 
shareholders' approval at the Special General Meeting to be held today 
(27/11/2002). Upon the proposals becoming effective, a temporary counter 
under stock code 2993 and stock short name "401 HOLDINGS" will be 
established for trading in board lots of 400 New Shares each to replace 
the present counter (stock code: 401) for trading in board lots of 20,000 
Old Shares each effective from Thursday, 28/11/2002.