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Kwong Hing International Holdings (Bermuda) Limited

(Incorporated in Bermuda with limited liability)

RESULTS OF ANNUAL GENERAL MEETING

ADOPTION OF SHARE OPTION SCHEME

AND

TERMINATION OF THE EXISTING SHARE OPTION SCHEME

At the Annual General Meeting held on 23rd August, 2002, the proposed ordinary resolutions to approve the termination of the Existing Share Option Scheme and the adoption of the Share Option Scheme by the Company were duly passed.

Reference is made to the circular to the Shareholders of Kwong Hing International Holdings (Bermuda) Limited (the "Company") dated 30th July, 2002 (the "Circular"). Terms defined in the Circular have the same meanings in this announcement unless the context otherwise requires.

The Board is pleased to announce that at the Annual General Meeting, all the proposed ordinary resolutions set out in the notice convening the Annual General Meeting, including the resolutions relating to the termination of the Existing Share Option Scheme and the adoption of the New Share Option Scheme, were duly passed by the Shareholders:

The Board confirms that the New Share Option Scheme complies with Chapter 17 of the Listing Rules.

By Order of the Board

Kwong Hing International Holdings (Bermuda) Limited

Li Man Ching

Chairman

Hong Kong, 23rd August, 2002

Please also refer to the published version of this announcement in The Standard dated 26 August 2002.