AKAI HOLDINGS<0448>,TOYO HOLDINGS<0094> & GRANDE<0186>-Joint Announcement

The Stock Exchange has received a message from Akai Holdings Limited, Toyo 
Holdings Limited & The Grande Holdings Limited which is reproduced as 
follows:-

"
AKAI HOLDINGS LIMITED
(incorporated in Bermuda with limited liability)

TOYO HOLDINGS LIMITED
(incorporated in Bermuda with limited liability)

THE GRANDE HOLDINGS LIMITED
(incorporated in Bermuda with limited liability)

Proposed open offer of convertible bonds to existing 
shareholders of Akai Holdings Limited 
On the basis of convertible bonds in the principal amount of HK$0.30
For every two shares held by eligible shareholders and
Discloseable transaction for The Grande Holdings Limited

The respective boards of directors of Akai Holdings Limited ("Akai"), The 
Grande Holdings Limited and Toyo Holdings Limited ("Toyo") hereby announce 
that the underwriting agreement dated 15th November, 1999 entered into 
between Akai and Toyo for the underwriting by Toyo of Akai's open offer of 
convertible bonds (the "Original Agreement") has lapsed since 12:00 a.m. 
on 1st February, 2000.  The directors of Akai and Toyo are currently under 
negotiations for a new agreement (the "New Agreement") relating to the 
said underwriting.  Further announcement will be made upon the signing of 
the New Agreement.

By Order of the Board      By Order of the Board    By Order of the Board
Akai Holdings Limited      Toyo Holdings Limited    The Grande Holdings
James Henry Ting           Christopher W. Ho        Limited
Chairman and Chief         Executive Chairman       Christopher W. Ho
Executive                                           President and Chief
                                                    Executive   

1st February, 2000"