Hong Kong, February 7, 2002 - MOISELLE International Holdings Limited ("MOISELLE") (SEHK : 130) today announces that the Group's placing and new issue has been over-subscribed. The Group received a total of 106 valid applications on white and yellow forms for a total of 41,304,000 shares, equivalent to approximately 6.6 times of the 6.3 million shares available for public subscription (excluding the 700,000 shares for pink forms). The 63 million placing shares for professional and institutional investors were approximately 6.7 times subscribed.

MOISELLE specializes in design, development, manufacturing, retailing and wholesale of distinguished lady's apparel. Since its inception of the MOISELLE brandname in 1996, it has quickly created a new dress code for women in town. Leveraging on its success, the Group has been pursuing a consistent business strategy and creates its self-developed spin-off lines including moi, imaroon and M.kids with each distinctive line effectively serving its target market segments.

The Group issued a total of 70 million new shares at an offer price of HK$1 per share, on the basis of which the Group's market capitalisation will amount to HK$280 million. The net proceeds from the issue of new shares will total HK$56.5 million. The Group intends to utilize HK$15 million on development and expansion of PRC operation, HK$20 million on design, development and promotion of MOISELLE, moi, imaroon and M.kids products as well as the expansion of their respective stores, HK$9 million on development of overseas operations, HK$5 million on establishment of production facilities and HK$7.5 million as working capital.

Refund cheques or original uncleared remittances will be posted on or before Friday, February 8, 2002. Share certificates are also expected to be despatched on or before the same day. Dealings in the Group's shares are expected to commence on the main board of the Stock Exchange of Hong Kong on Monday, February 11, 2002.

Issued by :
MOISELLE International Holdings Limited

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