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 Price and Trading Volume of Shares

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

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

The Company is in preliminary discussion with an independent 
third party for a possible  investment in a company which is 
involved in the optical fiber network business in the People's 
Republic of China.  

No agreement has been signed and the Company may or may not proceed 
with the investment.  Further announcement will be made when 
agreement is signed.

Save for the  above-mentioned, we 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 Soundwill Holdings Limited, the 
directors of which individually and jointly accept 
responsibility for the accuracy of this statement.

Hong Kong, 1 February 2000