FE CONSORT INTL<0035> - 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.

Far East Consortium International Limited
(Incorporated in the Cayman Islands with limited liability)

We have noted the recent increases in the price and trading volume 
of the shares of the Company and wish to state that we are not 
aware of any reasons for such increases except that we were 
informed by Mr. Deacon Te Ken Chiu, Chairman of the Company that he 
disposed of 3,465,349 shares to an independent third party at 
HK$0.55 per share on 25 January 2000.
We wish to clarify certain publication of press articles in Hong 
Kong today in relation to the Company being the target of a 
backdoor listing.

This announcement is made at the request of The Stock Exchange of 
Hong Kong Limited.

Disposal of shares

We have noted the recent increases in the price and trading volume 
of the shares of Far East Consortium International Limited (the 
"Company") and wish to state that we are not aware of any reasons 
for such increases except that we were informed by Mr. Deacon Te 
Ken Chiu, Chairman of the Company, that he disposed of, by private 
contract, a total of 3,465,349 shares (representing 0.37% of the 
issued capital of the Company) from his corporate holding to Max 
Point Holdings Limited, an independent third party, at HK$0.55 per 
share on 25 January 2000. After the above disposal, Mr. Deacon Te 
Ken Chiu beneficially interested in 12.4% of the issued capital of 
the Company.

Clarification on press articles

The Company has also noted various articles in the press today 
which speculated that the Company could be the target of a backdoor 
listing. We were not aware of the source of such speculation and 
confirm that the Company and its controlling shareholders were not 
approached by any potential buyers. However, the Company is 
exploring the possibility of entering into the high technology 
business when the opportunity so arise. The Company will make 
announcements if any deal is reached in this respect.

Save as disclosed herein, we also confirm that there are no 
negotiations or agreements relating to intended acquisitions or 
realisations which are discloseable under paragraph 3 of the 
Listing Agreement neither is the Board aware of any matter 
discloseable under the general obligation imposed by paragraph 2 of 
the Listing Agreement, which is or may be of a price-sensitive nature.

Shareholders of the Company and Investors are advised to exercise 
caution when dealing in the securities of the Company.

Made by the order of the Board of the directors of which 
individually and jointly accept responsibility for the accuracy of 
this statement.

By Order of the Board
Michael Chi Ning O'Young
Managing Director

Hong Kong, 29 January 2000