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)

Increase in Trading Volume of Shares

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

We have noted the recent increase in trading volume of the shares 
of the Company and wish to state that we are not aware of any reasons 
for such increase.

The Company is in negotiation with independent third parties for an 
investment in a company which is involved in internet content 
providers (``ICP'') services in the People's Republic of China. Such 
ICP services include providing information, such as business, 
financial, news, entertainment and sports, through internet.  Terms 
of the\agreement have not yet finalised. If the Company is to proceed 
with this investment, we will ensure it will comply with the relevant 
laws and regulations of the People's Republic of China.  Further 
announcement will be made when agreement is signed.

Save for the above-mentioned, we confirm that there are no other 
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 other 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 Soundwill Holdings Limited, except 
for Mr Kwong Che Keung, Gordon who cannot be reached, the directors 
of which individually and jointly accept responsibility for the 
accuracy of this statement.

Hong Kong, 14 October 1999