SHUN CHEONG<0650> - Announcement


Shun Cheong Holdings Limited

Announcement

The board of directors (the "Board") of Shun Cheong Holdings Limited (the 
"Company") notes the recent increases in the price of the shares of the 
Company.

The Board wishes to advise that the Company is engaged in a preliminary 
negotiation with an independent third party which may or may not result in 
the Company acquiring an investment in an internet-related business (the 
"Acquisition").

The Board wishes to emphasize that the Acquisition may or may not proceed 
and to remind shareholders of the Company and potential investors to 
exercise caution in dealing in the shares of the Company.

This announcement is being made at the request of The Stock Exchange of 
Hong Kong Limited.

The Board of the Company has noted the recent increases in the price of 
the shares of the Company and wishes to state that they are not aware of 
any reasons for such increase.

The Company is currently engaged in a preliminary negotiation with an 
independent third party which may or may not result in the Company 
acquiring an investment in a business that is engaged in internet-related 
services with operations in Hong Kong for providing information concerning 
trading prices and analysis of securities. No agreement on the conclusion 
of the Acquisition has been reached at this stage. The Board wishes to 
emphasize that the Acquisition may or may not proceed and to remind 
shareholders of the Company and potential investors to exercise caution in 
dealing in the shares of the Company. Further announcement will be made 
under the requirements of the Listing Rules if applicable.

The Board also confirms that, save as disclosed above, there are no 
negotiations or agreements relating to intended acquisitions or 
realisations which are discloseable under paragraph 3 of the Listing 
Agreement, neither is the Board aware of any matter, discloseable under 
the general obligation imposed by paragraph 2 of the Listing Agreement, 
which is or may be of a price-sensitive nature.

This announcement is made by the order of the Board of the Company, who 
individually and jointly accept responsibility for the accuracy of this 
statement.

By order of the Board
OU KA CHI
Company Secretary

Hong Kong, 18th January, 2000