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A temporary chairman and two temporary lay members have been appointed pursuant to the Securities (Insider Dealing) Ordinance (Cap. 395) for inquiry into possible insider dealing in the listed securities of China Apollo Holdings Limited.

The inquiry started on 1 September 2000 and the last hearing took place in the Insider Dealing Tribunal on 6 December 2000 under the chairmanship of Mr. Justice Hartmann. Since Mr. Justice Hartmann is not available to preside over the hearing due to other commitments in the Judiciary, the Chief Executive has appointed Mr. Justice Lugar-Mawson as a temporary chairman to act in place of Mr. Justice Hartmann for the inquiry. Mr. Justice Lugar-Mawson has been appointed earlier by the Chief Executive on 1 November 2000 as the chairman of a division of the Tribunal for a period of two years.

The Tribunal has also decided that the two serving lay members should be replaced following the change in the chairmanship. In exercising his power under the delegated authority from the Chief Executive, the Financial Secretary has appointed Messrs. Barnett, Malcolm Antony and Lam Siu Lun, Simon as temporary lay members to act in place of the two serving members.

Mr. Barnett was a solicitor and is now the chairman of the Composers and Authors Society of Hong Kong. Mr. Lam is a certified public accountant and the sole proprietor of an accountant firm. Both are knowledgeable in the securities and futures markets.

A hearing of the inquiry will be held at 5 pm on Tuesday, 6 February 2001 at Room 702, Tower Two, Lippo Centre, 89 Queensway.

End/Saturday, February 3, 2001

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