Wo Kee Hong Announces the Acquisition of DOTV

Wo Kee Hong Announces the Acquisition of DOTV

New Interactive Outdoor Medium Combines High Definition Display with Broadband

Technology

HONG KONG, Aug. 21 /Xinhua-PRNewswire-FirstCall/ -- Wo Kee Hong (Holdings) Limited ("Wo Kee Hong" or the "Company"; HKEx: 720) held a press conference today to introduce its newly acquired DOTV business. The acquisition took place on 13 August, 2007. Wo Kee Hong acquired 10% issued share capital in Corning Investments at a consideration of HK$36 million. Corning Investments holds the entire issued share capital of DOTV which is engaged in the business of providing outdoor media advertising and broadcasting network.

The consideration is satisfied by the allotment and issue of 31.26 million new shares of Wo Kee Hong at an issue price of HK$1.1514 per share. The Consideration Shares represent approximately 13.96% of the existing issued share capital of the Company and 12.25% of the issued share capital of the Company as enlarged by the issue of the Consideration Shares. Through the acquired project, the business of the Company which currently owns entertainment arm will become more diversified and enhance the Company's revenue.

Media company DOTV was the first to build an outdoor television network using the latest high-definition display and broadband technology in Hong Kong. It now operates the largest such network and provides outdoor media television services combining the highest resolution with interactive applications. This not only transmits advertising messages effectively, but also meets the demands of consumers. Image quality on the high-definition display is far superior to that of traditional media. As a result, high-definition television will greatly enhance the interactivity between consumers and advertisers. DOTV is the first and only outdoor medium utilizing HDTV, and is determined to be a market leader in the advertising industry.

DOTV currently has over 100 locations in Hong Kong, including restaurants, computer arcades and record stores, targeting high-end consumer groups in different sectors. DOTV provides specialized content and display services tailored to different locations and aimed at customers who are out-of-home (OOH). Locations already featuring DOTV's high-definition displays include restaurants like Itamai-Sushi, Ajisen Ramen, Azabu Sabo and Fat Angelo's, as well as computer arcades like Golden Computer Centre and Wanchai Computer Centre. DOTV not only transmits real-time messages to a particular audience but also makes the sessions interactive, increasing the fun factor for participants.

About Wo Kee Hong (Holdings) Limited

Wo Kee Hong (HKEx: 720) is principally engaged in the import, marketing and distribution of air-conditioning and refrigeration products, audio-visual equipment, car audio and electronic products, cars and car accessories, motor yachts, luxury branded apparel, other electronic and electrical products and property investment.

About DOTV

DOTV is a media company which is the first to build the largest outdoor television network with the latest high definition display and broadband technology. This revolutionary new advertising platform addresses young adult group with high spending power when they are out-of-home (OOH). DOTV has currently over 100 locations with an average of one to two TVs installed per store, including restaurants, computer arcade and record stores in Hong Kong.

Contact:
Rita Tang
Alvin Chan Associates Limited
Tel: +852-2801-0049
Email: rita.tang@aca.com.hk

Source: Wo Kee Hong (Holdings) Limited

CONTACT: Rita Tang, of ACA, +852-2801-0049 or rita.tang@aca.com.hk

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