Update No. 6

20th June, 2001

Dear Sirs,

Amendments to the GEM Listing Rules in connection with the restriction period of directors' dealings in their companies' securities and Year 2000 Compliance

We enclose reprinted pages of the GEM Listing Rules incorporating amendments to Chapter 5 of the Listing Rules, together with the filing instructions.

The Exchange has amended the restriction period for directors' dealings in their companies' securities under the GEM Listing Rules. A new restriction period has been introduced in Chapter 5 of the GEM Listing Rules to disallow such dealings during the period commencing one month prior to the earlier of: (i) the date of the board meeting for the approval of the issuer's quarterly, interim or annual results; and (ii) the deadline for the issuer to publish its quarterly, interim or annual results announcement under the GEM Listing Rules, and ending on the date of the results announcement.

Furthermore, the Exchange has repealed Practice Note 1 of the GEM Listing Rules to remove the requirements for the computer systems of the new applicant to be Year 2000 compliant and for the new applicant's confirmation and disclosure of the same in the listing document.

The rule change on directors' dealings will be effective in respective of accounting periods ending on or after 30th June 2001.

The rule change on Year 2000 compliance will come into effect on 20th June, 2001.

Yours faithfully,
For and on behalf of
The Stock Exchange of Hong Kong Limited

Karen Lee
Head of Listing, Regulation and Risk Management