AWT HOLDINGS<0401> - Announcement & Resumption of Trading

The  Stock Exchange of Hong Kong Limited (the `Stock Exchange') 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.

AWT HOLDINGS COMPANY LIMITED
(Incorporated In Bermuda with limited liability)

DISCLOSEABLE TRANSACTION

On  23rd  February,  2000,  a  wholly-owned subsidiary of AWT
Holdings  Company  Limited  (the  `Company')  has entered into an
agreement  (the  `Agreement') with Cybersystem Co., Ltd. (`CBS') and
Etronet.com  Ltd.  (`Etronet',  together  with CBS, the `Vendors'),
whereby  the  Vendors  have  conditionally  agreed  to sell and a
wholly-owned  subsidiary  of the Company has conditionally agreed to
purchase  (the `Acquisition') 60% of the issued shares of Cyberoffice
Limited  (`Cyberoffice')  at a total purchase price of HK$21,000,000
(the  `Purchase Price'). The Purchase Price is to be satisfied by the
issue  of  66,666,666  new shares of HK$0.01 each (`Shares') in the
Company at HK$0.315 per Share.

The  Acquisition  constitutes  a  discloseable transaction for the
Company  under  the Rules (the `Listing Rules') Governing the Listing
of  Securities on the Stock Exchange. However, the Company proposes to
seek  shareholders'  approval  of the Acquisition nevertheless. The
Company  reserves  the  rights to waive this requirement. A circular
containing  details  of  the  Acquisition  will  be  sent to the
shareholders  of the Company and a notice convening a special general
meeting of the Company, as soon as practicable.

Trading  in the shares of the Company was suspended from 2:30 p.m. on
23rd  February,  2000  at  the request of the Company pending this
announcement  and application has been made to the Stock Exchange for
the  resumption  of  trading in the shares of the Company from 10:00
a.m. on 25th February, 2000.


An  Agreement  dated  23rd  February, 2000 was entered into by the
parties named below on the terms set out below.

Parties

Vendors:                       CBS, a company incorporated   
                               in the British Virgin Islands 
                               on 13th July, 1999 with       
                               limited liability and         
                               wholly-owned by Mr. Ngai Tin  
                               Yee (`Mr. Ngai') 
             
                               Etronet, a company            
                               incorporated in the British   
                               Virgin Islands on 4th         
                               January, 2000 with limited    
                               liability and wholly-owned by 
                               Mr. Or Yee Fung (`Mr. Or')    

                               The Vendors, Mr. Ngai and Mr. 
                               Or are independent of and not 
                               connected with the Company,   
                               its subsidiaries, any         
                               director, chief executive or  
                               substantial shareholder of    
                               the Company or its            
                               subsidiaries or an associate  
                               (as defined in the Listing    
                               Rules) of any of them.                     

Purchaser:                     AWT Data Management Group     
                               Limited (`DMG'), a            
                               wholly-owned subsidiary of    
                               the Company.

The Acquisition

DMG  has  conditionally  agreed to purchase 6,000 shares of HK$1.00
each  in the issued share capital of Cyberoffice, representing 60% of
its  issued  share  capital. The remaining 40% of the Cyberoffice is
held as to 20% by CBS and as to 20% by Etronet.

Cyberoffice  is  a company incorporated in Hong Kong on 13th October,
1999  and beneficially owned as to 50% by CBS and 50% by Etronet. The
authorised  and  issued  share  capital of Cyberoffice is HK$10,000
comprising  10,000  shares of HK$1.00 each. Its principal business is
the  provision  of data management and application services to office
buildings.  As Cyberoffice is newly incorporated, it does not yet have
any audited accounts.

The  current management of Cyberoffice comprises Mr. Ngai and Mr. Or,
both  of whom have extensive experience in data and telecommunications
fields  and the information technology industry. They will continue to
be  employed  by and act as directors of Cyberoffice after completion
of  the Acquisition (`Completion'). They will not be appointed to the
board  of  directors  of  the Company. Each of them entered into an
employment  contract  with Cyberoffice commencing from 1st November,
1999.  DMG has appointed Chan Sing Fai, Law Chuen Lam, Edward and Chan
Wing Fai to the board of directors of Cyberoffice.

Conditions

The  Acquisition  is  conditional on (i) the Stock Exchange granting
the  listing of and permission to deal in the Consideration Shares (as
defined  below) and (ii) the shareholders of the Company approving the
Acquisition.  Application will be made to the Stock Exchange for such
listing permission shortly.

If  the  conditions  are  not fulfilled or waived on or before 30th
April,  2000  (or  such  later date as the parties may agree), this
Agreement  shall lapse and none of the parties shall be liable to the
others save for antecedent breaches.

Consideration

The  Purchase  Price for the Acquisition is HK$21,000,000. It will be
satisfied  by  the  issue  to  the  Vendors,  their wholly-owned
subsidiaries  or  nominees  a total of 66,666,666 new Shares of the
Company  (the  `Consideration Shares') at an issue price (the `Issue
Price')  of HK$0.315 per Consideration Share. The Consideration Shares
will  be issued under the general mandate granted to the Directors at
the special general meeting held on 6th January, 2000.

Both  the  Purchase  Price and the Issue Price were determined after
arm's  length negotiations between the Vendors, DMG and the Company by
reference  to (i) a valuation of the fair market value of Cyberoffice
as  at  15th January, 2000 at HK$35,000,000 by a firm of independent
valuers,  Brooke  International (China) Limited, by reference to the
projected  revenue and profits of Cyberoffice on a discounted cashflow
basis and (ii) the average price of the Shares.

The  Issue  Price represents a discount of approximately 1.6% of the
closing  price  per  Share  as quoted on the Stock Exchange on 22nd
February,  2000  and a discount of approximately 3.1% of the average
closing  price per Share as quoted on the Stock Exchange for the last
ten trading days ending 22nd February, 2000.

The  Consideration Shares represent approximately 0.86% of the issued
ordinary  share capital of the Company and approximately 0.72% of the
issued  share  capital  of the Company enlarged by the issue of the
Consideration Shares.

The  Directors  consider the Purchase Price and the Issue Price to be
fair  and reasonable so far as the Company is concerned, after taking
into  account  the  potential enhancement of the IT business of the
Company  as  explained  below  and Cyberoffice's long term business
plans,  ability to add value to and to diversify the businesses of the
Company and its subsidiaries (the `AWT Group').

Completion

Completion  will  take  place  within  five  business days of the
fulfilment  of the conditions referred to above (or at such other time
as is agreed between the parties).

Reasons for the Acquisition

The  Company's  principal  business  is  investment  holding. The
businesses  of  its subsidiaries include the provision of air and sea
freight  forwarding  services,  real  estate  agency services and
investment holding in property.

The  Acquisition  will  enable  the AWT Group to capitalise on its
relationship  with  commercial  property  developers  and  owners
established  under  its  existing business and offer services which
could  help to upgrade commercial buildings and thereby enhance their
value.  It also allows the AWT Group to diversify into the high growth
areas  of  information  technology  business, in particular in the
property-related  sector in which the AWT Group and its management are
well experienced.

General

This  Agreement  constitutes  a  discloseable  transaction for the
Company.  However, the Company proposes to seek shareholders' approval
of  the  Acquisition nevertheless. The Company reserves the right to
waive  this  requirement. A circular will be sent to the shareholders
of  the  Company and a notice convening a special general meeting of
the Company, as soon as practicable.

The  Company  expects  to announce its audited results for the year
ended  31st  March,  1998 and its interim results for the six months
ended  30th September, 1999 on or before 31st March, 2000. It expects
to  announce  its audited results for the year ended 31st March, 1999
on or before 31st May, 2000.
                                        
The  Company  notes  recently  a press reported that it has reached
agreements  with 20 to 30 major property developers for the provision
of  data management services to 20 to 30 office buildings. The Company
wishes to clarify that it has not reached any such agreements.

Trading  in the shares of the Company was suspended from 2:30 p.m. on
23rd  February,  2000  at  the request of the Company pending this
announcement  and application has been made to the Stock Exchange for
the  resumption  of  trading in the shares of the Company from 10:00
a.m. on 25th February, 2000.

                               By Order of the Board    
                               AWT Holdings Company Limited 
                               Chan Sing Fai                      
                               Chairman                      

Hong Kong, 24th February, 2000