Sun Innovation Shareholders Overwhelmingly Passed all Proposed Resolutions at the 2006 Annual General Meeting

Sun Innovation Shareholders Overwhelmingly Passed all Proposed Resolutions at the 2006 Annual General Meeting

HONG KONG, May 26 /PRNewswire-FirstCall/ -- By an overwhelming majority, preliminary results showed that the shareholders of Sun Innovation Holdings Ltd. (HKSE: 547) passed all resolutions proposed by the Company at its 2006 Annual General Meeting.

Sun Innovation Holdings Ltd. is a Hong Kong-based multinational corporation with entertainment media content distribution as its core business. The Company markets its mobile content in Hong Kong under the brand "Yeahmobile" and in Mainland China under "Ravemobile". In Japan, the Company sells its entertainment content through its Digi-Raku digital kiosk machines, located in internet cafes, video rental shops, music stores, and convenience stores.

In remarks to shareholders, Sun Innovation's Chairman and Chief Executive Officer, Michele Matsuda, stated, "Evolving into a market leader and innovator in the delivery of creative, new, high quality entertainment content is our number one priority. By leveraging our new ideas and fresh approaches, we believe we will set the de facto standard in content distribution in the Asia Pacific region, ultimately ensuring strong performance and returns to our shareholders for years to come."

Shareholders at the meeting unanimously passed the Company's audited financials and the reports of the directors and auditors for the year ended 31 December 2005.

Additionally, shareholders voted in favor of re-electing Mr. Leung To Kwong, Mr. Cheung Chi Fai, and Mr. Wong Tak Shing as directors to the Board as well as setting each director's remuneration package as proposed in the Company's Circular dated 24 April, 2006.

Shareholders also approved the appointment of Horwath Hong Kong CPA Limited as the Company's independent auditors for the fiscal year ending December 31, 2006.

Lastly, shareholders approved the Company's proposals to issue and allot shares not to exceed 20% of the aggregate nominal amount of the ordinary shares as of 26 May 2006 and to repurchase up to a maximum of 10% of the aggregate nominal amount of the ordinary shares as of 26 May 2006. Shareholders also approved to refresh the Company's 10% share option scheme limit.

About Sun Innovation Holdings Limited:

Sun Innovation Holdings Limited is a Hong Kong-based multinational corporation listed on the Main Board of the Hong Kong Stock Exchange (exchange code: 547). It currently has four business segments: Entertainment Media, property investments, financial services, and telecommunication, with business operations in Hong Kong, Japan, Mainland China, and the State of Hawaii.

Certain statements contained in this press release related to Sun Innovation Holdings Limited's business are not historical facts. Such statements may be regarded as forward-looking statements. Forward-looking statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements were made. Management does not undertake any obligation to update these statements - Accordingly, risks and uncertainties are inherit as actual results may differ materially from those expressed or implied.

Contact:

Alicia Swanson
Senior Investor Relations Manager
Tel: +1-808-394-6695
Email: aswanson@suninnovation.com
Web site: http://www.suninnovation.com/

Source: Sun Innovation Holdings Ltd.

CONTACT: Alicia Swanson, Senior Investor Relations Manager of Sun
Innovation Holdings Ltd., +1-808-394-6695, aswanson@suninnovation.com

Web site: http://www.suninnovation.com/

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