MIDAS PRINTING<1172> - Announcement

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.

MIDAS PRINTING GROUP LIMITED
(Incorporated in the Cayman Islands with limited liability)
(the `Company')

COMPLETION OF SALE OF SHARES OF THE COMPANY

SUMMARY
 
The  Company was informed by its controlling shareholder,  ERI  Holdings  
Limited that completion of the sale and purchase  agreement  entered  into 
on 30th January, 2000 between ERI Holdings  Limited,  Mr.  C.K.  Lau, Gold 
Throne Finance Limited and Moscow  Profits  Limited  took place on 7th 
March, 2000 whereby ERI Holdings  Limited  sold  and Gold Throne Finance 
Limited and Moscow Profits  Limited  purchased  80,000,000  shares  of  
HK$0.10 each representing  31.57% in the Company for an aggregate 
consideration of HK$70,400,000  (equivalent  to  HK$0.88  per  share),  
subject to adjustments.

Upon  completion,  the interest of ERI and parties acting in concert
with it decreased to 8.97%.

The  Company announces that completion (`Completion') of the sale and
purchase  agreement dated 30th January, 2000 entered into between ERI
Holdings  Limited,  Gold  Throne Finance Limited and Moscow Profits
Limited  took  place on 7th March, 2000 whereby ERI Holdings Limited
sold  and  Gold  Throne  Finance Limited and Moscow Profits Limited
purchased  80,000,000  shares  of  HK$0.10 each representing 31.57%
(instead  of 33.77% as set out in the Company's announcement dated 2nd
February,  2000  due  to  the enlarged issued share capital of the
Company  as a result of exercise of share options by employees of the
Company)  in  the  Company  for  an  aggregate  consideration of
HK$70,400,000  (equivalent  to  HK$0.88  per  share),  subject to
adjustments.

The shareholding of the Company after completion is as follows:-
ERI Holdings Limited                    8.97%                         
Gold Throne Finance Limited             23.68%                        
Moscow Profits Limited                  7.89%                         
Public                                  59.46%                        
                                        -------
                                        100.00%                       

On  completion  of  the  Agreement,  Martin  Yue-Nien  Tang (the
non-executive  chairman)  and Professor Chia Wei Woo (an independent
non-executive  director),  Ng  Chun  Kit,  Wan Siu Kau (executive
directors)  resigned as directors and Chan Sheung Chiu, , Li Mee Sum,
Lee  Sai  Wai  and  Kwong  Tin Lap were appointed as new executive
directors  and  Chan Sheung Chiu was appointed as the chairman of the
board of directors of the Company.

                               By Order of the Board 
                               Midas Printing Group Limited 
                               Lam Mei Lan               
                               Company Secretary                     

Hong Kong, 7th March, 2000

The  directors  of  the  Company jointly and severally accept full
responsibility  for the accuracy of the information contained in this
announcement  and confirm, having made all reasonable inquiries, that
to  the  best  of  their  knowledge,  opinions expressed in this
announcement  have been arrived at after due and careful consideration
and  there are no other facts not contained in this announcement, the
omission  of  which  would  make any statement in this announcement
misleading.