401 HOLDINGS<00401> - Odd Lot Arrangement

The Stock Exchange has received a message from 401 Holdings Limited which 
is reproduced as follows:-

"In order to alleviate the difficulties arising from the existence of odd 
lots of the Consolidated Ordinary Shares as a result of the Capital 
Reorganisation, the Company has procured Kingston Securities Limited to 
stand in the market to provide matching services on a best efforts basis 
for the sale and purchase of odd lot Consolidated Ordinary Shares by the 
odd lots holders of such shares at their own cost during the period from 
Thursday, 12 December, 2002 to Tuesday, 7 January, 2003 (both dates 
inclusive) to make up a full board lot or to dispose of their holdings of 
odd lots of Consolidated Ordinary Shares. Holders of odd lots of the 
Consolidated Ordinary Shares who wish to take advantage of this facility 
either to dispose of their odd lots of the Consolidated Ordinary Shares or 
to top up their odd lots to a full board lot of 20,000 Consolidated 
Ordinary Shares may contact Ms. Rosita Kiu of Kingston Securities Limited 
at Suite 2801, 28/F, One International Finance Centre, 1 Harbour View 
Street, Central, Hong Kong (telephone no. (852) 2298 6215) as soon as 
possible starting from Thursday, 12 December 2002 to Tuesday, 7 January, 
2003 (both dates inclusive). Holders of odd lot Consolidated Ordinary 
Shares should note that matching of odd lots is not guaranteed."