AKAI HOLD<0448>, TOYO HOLD<0094> & GRANDE HOLD<0186> - Joint 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.
                       
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$0.20
For every share held by eligible shareholders of Akai Holdings 
Limited and
Major transaction for Toyo Holdings Limited and
Discloseable transaction for The Grande Holdings Limited

The respective boards of directors of Akai, Grande and Toyo jointly 
announce that the Underwriting Agreement has lapsed since 12:00 a.m. 
on 1st April, 2000. Accordingly, the respective circulars of Akai, 
Grande and Toyo in relation to the Underwriting Agreement will not 
be despatched.

Reference is made to the joint announcement of Akai Holdings Limited 
("Akai"), The Grande Holdings Limited ("Grande") and Toyo Holdings 
Limited ("Toyo") dated 2nd February, 2000.

The respective boards of directors of Akai, Grande and Toyo hereby 
announce that the underwriting agreement dated 2nd February, 2000 
entered into between Akai and Toyo for the underwriting by Toyo of 
Akai's open offer of convertible bonds (the "Underwriting 
Agreement") has lapsed since 12:00 a.m. on 1st April, 2000. 
Accordingly, the special general meeting of Akai (the "SGM") 
referred to in the joint announcement dated 2nd February, 2000 in 
relation to the Underwriting Agreement is no longer necessary to be 
convened. Hence, the corresponding notice of the SGM and the 
respective circulars of Akai, Grande and Toyo to be issued pursuant 
to the Rules Governing the Listing of Securities on The Stock 
Exchange of Hong Kong Limited are no longer necessary. The advance 
made by Toyo to Akai is independent of the Underwriting Agreement, 
save and except such advance would have been utilized to set off the 
amount to be paid to Akai by Toyo pursuant to the Underwriting 
Agreement had the Underwriting Agreement been completed. There will 
be no material adverse impact on Toyo or Akai as a result of the 
lapse of the Underwriting Agreement. Currently, no definite decision 
has been made by the directors of Grande and Toyo in relation to the 
entering into of a new underwriting agreement between Toyo and Akai 
for the underwriting by Toyo of Akai's open offer of convertible 
bonds, as Akai is still under negotiations with its creditors for 
the withdrawal of the winding-up petitions (the "Winding-up 
Petitions") filed against Akai and Kong Wah Holdings Limited, an 
indirect non-wholly owned subsidiary of Akai. The hearing of the 
Winding-up Petitions have been adjourned to 2nd May, 2000.

Shareholders and investors of Akai, Grande and Toyo are advised to 
exercise caution when dealing in the securities in the respective 
Companies. 

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

Hong Kong, 1st April, 2000