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Update On Expansion In The People's Republic Of China ("PRC")

BackOct 11, 2004

Tung Lok Restaurants (2000) Ltd ("Tung Lok" or the "Company") had announced on 10 May 2004 that its wholly owned subsidiary, Tung Lok (China) Holdings Pte Ltd ("TLC") planned to take a stake in a new restaurant in Chengdu.

Pursuant to the announcement, the Board of Directors of Tung Lok is pleased to announce that:-

1. TLC has entered into a 30/70 joint-venture named My Humble House In Chengdu (Restaurant) Company Limited ("MHHC") with Shenzhen Jin Jian Xiang-E Qing Restaurant Investment & Management Company Limited, a company registered in the PRC.

2. MHHC, registered in the PRC with a paid-up capital of RMB 6 million (approximately S$1,248,000), will operate a restaurant in Chengdu, situated in the Sichuan Province. TLC's equity stake of 30% (approximately S$374,000) will be financed by the net proceeds from the private placement of 20,000,000 ordinary shares as announced on 22 April 2004.

3. Participation in this joint-venture is not expected to have any material impact on the net tangible assets per share or earnings per share of the Company for the financial year ending 31 March 2005.

None of the directors and so far as the directors are aware, none of the controlling shareholder or substantial shareholders of the Company has any interest, direct or indirect in the transaction.