GLOBAL TECH<0143> - 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.

GLOBAL TECH (HOLDINGS) LIMITED
(Incorporated in the Cayman Islands with limited liability)

ANNOUNCEMENT

Further to the announcement made by the Company dated 27th 
January, 2000, the board of directors of the Company wishes to 
clarify the contents of various newspaper articles published 
today.

Further to the announcement dated 27th January, 2000, the board 
of directors of Global Tech (Holdings) Limited (the "Company") 
wishes to clarify the contents of various newspaper articles 
published on 1st February, 2000 in relation to the proposed 
acquisition by the Company of all the equity interest in 
Freespeech Technology Limited ("Freespeech") a company 
incorporated in the British Virgin Islands. Terms used herein 
shall have the same meaning as defined in the announcement dated 
27th January, 2000.

Freespeech currently holds 51 per cent. equity interest in China 
Sports Programme Syndicating Company Limited ("CSS") a company 
incorporated in Hong Kong. CSS has entered into an eight-year 
agreement, from 1st January, 2000, in respect of a television 
programme series known as China Sports Broadcasting Network (the 
"CSBN") which to be broadcasted via the television channel CETV-
1, a channel owned and operated by China Education Television of 
the People Republic of China. CSS is entitled to the revenue 
from the sales of the airtime of advertisement to be broadcasted 
during the broadcasting of CSBN. In addition, the CSS will post 
real time sports news on its own web site chinasportsnet.com.

Holders of the securities of the Company and investors are advised 
to exercise extreme caution in dealing with the securities of the 
Company as the proposed transaction may or may not proceed.

There is no further progress save and except the letter of 
intent entered into. The Company will make further announcements 
as and when appropriate to advise holders of securities of the 
Company of any further developments.

Made by the order of the board of directors of the Company, the 
directors of which individually and jointly accept responsibility 
for the accuracy of this statement.

By Order of the Board of 
Global Tech (Holdings) Limited
Sze Tsang Fai
Chairman

Hong Kong, 1st February, 2000