DIGITAL WORLD<0109> - 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.

Digital World Holdings Limited
(incorporated in Bermuda with limited liability)

RESULTS OF THE RIGHTS ISSUE

The Directors announce that 391 valid acceptances and excess 
applications have been received for a total of 40,150,830,286 Rights 
Shares, (a) comprising acceptances of provisional allotments of 
12,648,887,730 Rights Shares; and (b) excess applications for 
27,501,942,556 Rights Shares. Accordingly, the Rights Issue was 
approximately 216% over subscribed.

The Rights Issue has become unconditional at 4:00 p.m. on 28th 
February, 2000.

Results of the Rights Issue
The Directors announce that as at 4:00 p.m. on Wednesday, 23rd 
February, 2000, the latest time for acceptance of and payment for 
Rights Shares, an aggregate of 391 valid acceptances and excess 
applications have been received for a total of 40,150,830,286 Rights 
Shares, comprising (a) acceptances of provisional allotments in 
respect of 12,648,887,730 Rights Shares; and (b) excess applications 
for 27,501,942,556 Rights Shares. The Rights Issue is therefore 
approximately 216% over subscribed.

Mr. Chan and Mr. Lam have respectively taken up and paid for 
1,405,023,680 and 1,500,000,000 Rights Shares representing 
approximately 11.08% and 11.83% of total number of Rights Shares 
under the Rights Issue. Immediately after completion of the Rights 
Issue, the shareholdings of Mr. Chan and Mr. Lam in the Company 
amounted to about 11.38% and 10.75% of the issued share capital of 
the Company as enlarged by the Rights Issue.

The Directors have determined that 34,062,270 Rights Shares 
available for excess applications have been allotted on the 
following basis:

Number of excess Rights Number of valid
Shares applied for      applications    Approximate Allotment 
                                        Percentage

1-2,000                         3       Fully
2,001-1,200,000                 50      Allot 2,000 Shares plus odd Shares
1,200,001-600,000,000           128     Allot 2,000 Shares for every
                                        1,200,000 Shares plus odd Shares
600,000,001-1,450,000,000       5       Allot odd Shares plus 0.12% for 
                                        the remaining
15,178,910,000                  1       0.10%
        

Total                           187     34,062,270 Shares
        
The Directors are of the opinion that the allocation of excess 
Rights Shares has been made on a fair and reasonable basis.

Certificates for the Rights Shares and refund cheque for the 
application of excess Rights Shares are expected to be despatched by 
ordinary post to those entitled thereto at the their own risk on 
Wednesday, 1st March, 2000. Dealings in the Rights Shares are 
expected to commence on Friday, 3rd March, 2000.

Capitalized terms used in this announcement have the same meanings 
as ascribed thereto in the prospectus of the Company dated 8th 
February, 2000 unless the context requires otherwise.

By Order of the Board
Digital World Holdings Limited
Chan Tak Hung
Chairman

Hong Kong, 28th February, 2000