ABC COM (HOLD)<0030> - Announcement

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.

ABC COMMUNICATIONS (HOLDINGS) LIMITED
(incorporated in Bermuda with Limited Liability) 

COMPLETION OF ACQUISITION OF SHARES IN
QUOTEPOWER INTERNATIONAL LIMITED

The Board announced on 29th December 1999 (the 
"Announcement") that the Company and its wholly owned 
subsidiary, Choudary Limited, had entered into a conditional 
sale and purchase agreement (the "Agreement") with 
QuotePower Holdings Limited ("QPH") and the shareholders of 
QPH (the "QPH Shareholders") to acquire approximately 74.5% 
of the issued share capital of QuotePower International 
Limited ("QPI") (the "Acquisition").

The Board is pleased to announce that the Acquisition was 
completed on 22nd January, 2000 ("Completion") and that 
pursuant to Completion, the Company issued 51,138,000 
ordinary shares of HK$0.10 each in the Company at $2.50 per 
share to the QPH Shareholders in full satisfaction of the 
consideration for the Acquisition.

The Board is pleased to announce that the Acquisition was 
completed on 22nd January, 2000 ("Completion"). Upon 
Completion, pursuant to the Agreement, the Company acquired, 
through its wholly owned subsidiary, Choudary Limited, 
approximately 74.5% of the issued share capital of QPI, and 
the Company has allotted and issued 51,138,000 ordinary 
shares of HK$0.10 each in the Company at $2.50 per share (the 
"Consideration Shares") to the QPH Shareholders, in full 
satisfaction of the consideration required to be paid for 
the Acquisition. 

The Consideration Shares will rank pari passu with the 
existing issued ordinary shares of the Company. The Stock 
Exchange of Hong Kong Limited has granted conditional 
approval to the listing of and permission to deal in the 
Consideration Shares and dealings are expected to commence 
on 25th January, 2000. 

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

By Order of the Board of directors of
ABC Communications (Holdings) Limited
Patricia Yeung Shuk Kwan
Managing Director

Hong Kong, 24th January,2000