MIDAS PRINTING<1172> - 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.

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

PLACING OF NEW SHARES

The  Company  will  place through the Placing Agent, a total of
47,000,000  new Shares of HK$0.10 each to the Placee(s) at a price of
HK$0.88  per  each  Placing  Share.  The 47,000,000 Placing Shares
represent  approximately  18.51% of the existing issued share capital
of  the  Company and approximately 15.62% of the issued share capital
as  enlarged by the Placing. The Placing is fully underwritten by the
Placing Agent.

The  net  proceeds  of the Placing are estimated to be approximately
HK$40.2  million. It is presently intended that such net proceeds will
be used as additional working capital of the Company.

The  Placing  is  conditional on the approval of the listing of, and
permission  to  deal  in,  the Placing Shares being granted by the
Listing Committee of the Stock Exchange.

PLACING AGREEMENT DATED 10TH MARCH, 2000

Placing agent and underwriter in the Placing Agreement

Tai  Fook  Securities Company Limited, on a fully underwritten basis.

Number of Shares to be Placed

The  Placing  Shares  represent approximately 18.51% of the existing
issued  share  capital of the Company and approximately 15.62% of the
issued  share  capital  as  enlarged  by the issue of the Placing Shares.

Shareholdings of the Largest Substantial Shareholder

The  percentage  of  shareholdings  held by the Largest Substantial
Shareholder before and after Placing are as follows:-

Largest Substantial  Before Placing       After Placing       
Shareholder (Note)                                            
                                                              
Gold Throne Finance  23.63%               19.94%              
Limited (60,000,000                                           
Shares)                                                       
Moscow Profits       7.88%                6.65%               
Limited (20,000,000                                           
Shares)              ------               ------             
                     31.51%               26.59%              
                                                              
Note:  Gold  Throne  Finance Limited is a wholly-owned subsidiary of
China  Cyberworld  Limited  (formerly  known  as  Chuang's China
Investments  Limited), the securities of which are listed on the Stock
Exchange  and Moscow Profits Limited is a company which is owned as to
66%  by Mr. Alan Chuang Shaw Swee and owned as to 34% by Ms. Alice Siu
Chuang  Siu  Suen. Mr. Alan Chuang Shaw Swee and Ms. Alice Siu Chuang
Siu  Suen  are  the controlling shareholders of Chuang's Consortium
International  Limited,  the  holding  company of China Cyberworld
Limited.

Independence of Placees and the Placing Agent

The  Placing Agent is independent of, and not connected with, and not
acting  in  concert  with  the  directors,  chief executives and
substantial  shareholders  of the Company and any of its subsidiaries
or  any  of their respective associates. The Placing Agent has agreed
to  procure  the  Placees, who are independent of, and not connected
with,  and not acting in concert with the directors, chief executives
and  substantial  shareholders  of  the  Company  and any of its
subsidiaries  or any of their respective associates or failing which,
itself  to  subscribe for the full amount of the Placing Shares. The
Placing  Agent  would receive an aggregate placement and underwriting
commission of 2.5% on the gross proceeds of the Placing.

Placing Price

The  price  for the Placing Shares is HK$0.88 per each Placing Share
representing  a  discount  of  approximately 27.27% to the average
closing  price  of  the  Shares, i.e. HK$1.21, over the 10 previous
trading  days  up to 10th March, 2000 on the Stock Exchange and also
representing  a discount of approximately 31.78% to the closing price
of  the Shares, i.e. HK$1.29, as quoted on the Stock Exchange on 10th
March, 2000.

Condition and Completion of Placing

Completion  of  the  Placing is conditional upon the Stock Exchange
granting  listing  of, and permission to deal in, the Placing Shares.
Completion  of the Placing is expected to take place on or before 15th
April  2000  (or such other date as may be agreed between the Company
and the Placing Agent).

Mandate to Issue Placing Shares

The  Placing  Shares will be issued under the general mandate granted
to  the directors of the Company at the annual general meeting of the
Company held on 6th May, 1999.

Rights of Placing Shares

The  Placing  Shares,  when fully paid, will rank pari passu in all
respects  with  the existing Shares of the Company in issue including
the  right  to any dividends or distributions, made or declared after
the date of completion of the Placing in respect thereof.

Reasons for Placing

The  Placing  will  broaden the capital base and shareholder base of
the Company.

Use of Proceeds

The  net  proceeds  receivable by the Company under the Placing are
estimated  to  be  approximately  HK$40.2 million. It is presently
intended  that  such net proceeds will be used as additional working
capital  of  the  Company  and  will not be used for repayment of
borrowings or for acquisition of assets.

Application for Listing

The  Company  will  make  application to the Stock Exchange for the
grant  of  the  listing  of, and permission to deal in, the Placing
Shares.

Terms used in this Announcement

`associates'                   has the meaning ascribed      
                               thereto in the Listing Rules
`Company'                      Midas Printing Group Limited, 
                               a company incorporated in the 
                               Cayman Islands whose          
                               securities are listed on the  
                               Stock Exchange                      
`Largest Substantial           Gold Throne Finance Limited,  
Shareholder'                   a company incorporated in the 
                               British Virgin Islands and    
                               Moscow Profits Limited, a     
                               company incorporated in the   
                               British Virgin Islands        
`Listing Rules'                the Rules Governing the       
                               Listing of Securities on the  
                               Stock Exchange                      
`Placee(s)'                    six or more independent       
                               individual, corporate and/or  
                               institutional investor(s)     
                               whom the Placing Agent or its 
                               agent(s) has agreed to        
                               procure to subscribe for the  
                               Placing Shares                        
`Placing'                      the placing of the Placing    
                               Shares on the terms and       
                               subject to the conditions of  
                               the Placing Agreement                     
`Placing Agent'                Tai Fook Securities Company Limited
`Placing Agreement'            the placing agreement made    
                               between the Company and the   
                               Placing Agent dated 10th      
                               March 2000 in respect of the Placing
`Placing Share(s)'             a total of 47,000,000 new     
                               Shares to be placed pursuant  
                               to the Placing Agreement
`Share(s)'                     ordinary shares of HK$0.10    
                               each in the capital of the Company
`Stock Exchange'               The Stock Exchange of Hong    
                               Kong Limited                       
`HK$'                          Hong Kong dollars, the lawful 
                               currency of Hong Kong
                                                           
By order of the Board of
Midas Printing Group Limited
Chan Sheung Chiu                      
Chairman

Hong Kong, 11th March, 2000