UPBEST GROUP<00335> - Unusual price & volume movements

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

"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 the increases in 
trading volume of the shares of the Company and wish to state that we are 
not aware of any reasons for such increases.

We confirm that there are no negotiations or agreements relating to 
intended acquisitions or realizations which are discloseable under 
rule 13.23, neither is the Board aware of any matter discloseable under 
the general obligation imposed by rule 13.09, which is or may be of a 
price-sensitive nature.

Made by the order of the Board of Upbest Group Limited, the directors of 
which individually and jointly accept responsibility for the accuracy of 
this statement.

As at the date of this announcement, the Board of the Company consists
of Mr. Wong Ching Hung, Thomas, Mr. Cheng Kai Ming, Charles, Mr.
Li Kwok Cheung, George as executive directors and Mr. Wong Wai Kwong, 
David, Mr. Pang Cheung Hing, Alex and Mr. Fuk Ho Kai as independent non-
executive directors.


By order of the Board
Upbest Group Limited

Li Kwok Cheung, George
Executive Directors

23rd December 2004"