SOUNDWILL HOLD<0878> - 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.

SOUNDWILL HOLDINGS LIMITED
(Incorporated in Bermuda with limited liability)

DELAY IN DESPATCH OF CIRCULAR

Extension of deadline for despatch of circular to 18th August, 1999.

On 22nd July, 1999, the directors of Soundwill Holdings Limited (the 
"Company") announced the proposed subscription of 63,500,000 new 
shares of the Company by COSCO (Hong Kong) Group Limited (the 
"Connected Transaction").  Pursuant to Rule 14.29(2) of the Listing 
Rules, a circular regarding the Connected Transaction should be 
despatched to the shareholders of the Company on or before 13th August, 
1999.  As extra time is required for finalizing the letter from the 
independent board committee and certain information of the Company's 
subsidiaries in the circular, there is a delay in despatch of it.  
Application has been made to The Stock Exchange of Hong Kong Limited 
for the extension of the deadline for the despatch of the circular to 
18th August, 1999.

By Order of the Board
Yip Kwai Cheung
Director

Hong Kong, 13th August, 1999