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.

Kwong Hing International Holdings (Bermuda) Limited

廣興國際控股有限公司 *

(Incorporated in Bermuda with limited liability)

RESULT OF THE SGM

The Directors are pleased to announce that all the resolutions proposed at the SGM held today have been duly passed by the Shareholders.

The Share Consolidation will become effective on 19th March, 2003. Dealings in Consolidated Shares will commence at 9:30 a.m. on 19th March, 2003.

As a result of the Share Consolidation becoming effective, the subscription price of the Share Options shall be adjusted to HK$0.51 each with effect from 19th March, 2003.

Reference is made to the circular issued by the Company on 28th February, 2003 (the "Circular") and the announcement dated 12th February, 2003 of the Company relating to a proposal for consolidation of shares, change in board lot size and grant of general mandates to issue and repurchase Consolidated Shares. Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as those defined in the Circular.

The Directors are pleased to announce that the resolutions to approve the Share Consolidation and the grant of the general mandates to issue and repurchase Consolidated Shares were all duly passed by the Shareholders present and voting in person or by proxy at the SGM.

The Share Consolidation will become effective on 19th March, 2003. Dealings in Consolidated Shares will commence at 9:30 a.m. on 19th March, 2003.

New certificates for the Consolidated Shares will be blue in colour in order to distinguish them from certificates for existing Shares which are beige in colour.

In accordance with the rules of the Share Option Scheme, the subscription price of the Share Options shall be adjusted to HK$0.51 each with effect from 19th March, 2003. Such adjustment of the subscription price has been confirmed by the auditors of the Company.

By order of the board of directors of

Kwong Hing International Holdings (Bermuda) Limited

Li Man Ching

Chairman

Hong Kong, 18th March, 2003

* for identification purpose only

Please also refer to the published version of this announcement in the China Daily dated 19 March 2003.