SYMPHONY HOLD<1223> - Exceptional Price & Turnover Movements

The Stock Exchange has received a message from Symphony Holdings Limited  
which is reproduced as follows:-

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

The Company was informed by First Place Limited ("First Place"), a 
substantial shareholder of the Company, that it has disposed of 
9,000,000 shares in the Company, representing approximately 1.3% of the 
trading volume of shares at the prices ranging from HK$0.38 to HK$0.395 on 
18th February, 2000.  Mr Chan Ting Chuen and Mr Sze Sun Sun, Tony, both 
are directors of the Company, are interested in more than one-third of 
the issued share captial of First Place and are deemed to be interested 
in shares of Symphony held by First Place.

Save for the above dealings by First Place, the Company is not aware of 
any reasons for such increase in trading volume of shares and decrease 
in price of shares on 18th February, 2000.

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.

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

For and on behalf of
SYMPHONY HOLDINGS LIMITED

Law Wai Chung, Allen
Deputy Managing Director

18th February, 2000"