September 24, 2000

Immediate Release

Excel Ushers In Strategic Investors For Net Fun -

A Most Innovative And Potential-Rich Investment

(24 September, 2000, HONG KONG) - Excel Technology International Holdings Limited ('Excel' or the 'Company', stock code: 8048) is proud to announce that Cheung Kong (Holdings) Limited ('Cheung Kong') and enterpriseAsia.com plc ('enterpriseAsia') joined Excel as strategic investors for Net Fun Limited ('Net Fun'), one of Excel's most innovative and potential-rich investments.

Cheung Kong and enterpriseAsia hold 42.88% and 8% in Net Fun respectively. Excel and Ms Peggy Chan, Chairman and CEO of Excel, hold the remaining interest.

Cheung Kong is a Hong Kong based blue chip conglomerate with diversified interests in property, telecommunications, port operations, retail and Internet-related businesses all over the world. enterpriseAsia is a UK investment fund with focus in high tech projects in Asia and the Greater China region. enterpriseAsia's management consists of renowned professionals in finance, marketing and advertising fields.

Net Fun is a market leader in Internet on-line games catered to building a virtual fun loving and knowledge eager community with Chinese background. Net Fun's strength lies in its ability to create entertaining and educational contents that are fine-tuned to the Chinese culture.

CyberCity is Net Fun's first implementation of the virtual community concept. It was launched in July 1996, and soon became a popular electronic meeting place and entertainment center for Chinese Internet surfers from all over the world. At present, CyberCity has attracted over 30,000 paid members. CyberCity offers over 13 multi-player online games (both narrowband and broadband), all of which were developed by its in-house professionals. Some of the popular games include Chinese Chess, Apple Chess, Polar Bomb, Speed Bomb, Viper CC, Smart IQ, Chinese Scrabble, Bridge, Five, Netrix, and Big 2. Besides games, CyberCity offers chat rooms, forums, quizzes, on-line tutoring, and other on-line services such as soccer news, horoscope and cyber shopping mall.

Ms Chan said, 'Net Fun represents the new generation of entertainment site, in which young people can have lots of fun and at the same time, being educational. Its fee structure and licensing arrangement ensure solid revenue; its fun and challenging content mix of games and quizzes with local flavor creates stickiness and a herd effect on the Internet. CyberCity's highly scalable architecture allows Net Fun to add games, services, and CyberCitizens easily.

Net Fun's profitable operating record demonstrates that CyberCity is able to gather a group of dedicated paid web surfers with similar tastes and spending habits - this is especially attractive to advertisers and corporate sponsors. The CyberCity web community is a young and dynamic community, breaking language, geographical and cultural barriers among youths with Chinese origin.'

Ms Chan concluded, 'The introduction of these two powerful strategic investors is a clear proof of Net Fun's potential. It is a dynamic website that has a very unique position in the market. Cheung Kong's extensive experience in marketing and distribution and its wide reaching customer network and penetration points, coupled with enterpriseAsia's high tech acumen and international presence will bring considerable synergy and support to grow the CyberCity community and enhance Net Fun's success.'

For more information about Net Fun, pls visit our website at www.netfun.com

- End -