News

Private Placement Of:(1) 10, 000, 000 New ordinary Shares Of Par Value S$0.10 Each (The "Subscription Shares") In the Capital Of Qian Hu Corporation Limited (The "Company") To Qian Hu Holdings Pte Ltd; And (2) 10, 000, 000 Existing Ordinary Share Of Par Value S$0.10 (The "Sale Shares") Held By Qian Hu Holdings Pte Ltd, To The Development Bank Of Singapore Ltd ("DBS") As Placement Agent

Further to the announcement made on 8 May 2002 in relation to the above-mentioned private placement, the Directors of Qian Hu Corporation Limited (the "Company") are pleased to announce that 10,000,000 new ordinary shares of S$0.10 each of the Company, which have been allotted to Qian Hu Holdings Pte Ltd, will be listed on the Singapore Exchange Securities Trading Limited with effect from 10 May 2002.