Hong Kong, October 8, 2001 - Chinese restaurants and bakery chain Kamboat Group Company Limited (SEHK: 318) today opened a new Chinese cuisine restaurant and bakery outlet at The Belcher's, Pokfulam. The opening ceremony was officiated by Dr Stanley Ho, O.B.E., Group Executive Chairman of Shun Tak Holdings Limited, Mr Lee Wai Man, President of Kingston Group, Mr Chan Wing Luk, an independent financial commentator, Mr Raymond Wong, Chairman and Managing Director of Kamboat Group, and Mrs Stella Wong.

The new restaurant is the sixth outlet of the Group's expanding Chinese cuisine chain in Hong Kong. Mr Raymond Wong commented on the outlet opening, "The further expansion of our restaurant and bakery network is in line with our plan to strengthen our position in Hong Kong, which in turn is a part of our master plan to advance horizontally and vertically."

To capture the growing demand for its Kamboat branded bakery and other food products, the Group plans to adopt a more aggressive expansion plan for its bakery network. A few more outlets are in the pipeline for opening within the current financial year, following the addition of the 24th bakery outlet to the chain.

The new restaurant and bakery outlet has a total gross floor area of over 12,000 sq ft. "We chose The Belcher's because the population profile of the locality fits well with our middle-class clientele and brand image. This is also our first move to tap the residential consumption in Hong Kong," continued Mr Wong.

The Kamboat Group recently raised net proceeds of HK$43.5 million from its initial public offering. HK$20 million of the funds raised will be used to open new Chinese restaurants and bakery outlets in Hong Kong, under the target of expanding the network to 7 restaurants and 40 bakery outlets by April 2003. Dealings in the Company's shares will commence on the main board of the Stock Exchange of Hong Kong on October 9, 2001.

An established gourmet brand in Chinese cuisine, bakery and food products, Kamboat Group at present operates 6 Chinese restaurants and 24 bakery outlets with 3 production facilities in Hong Kong.

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Kamboat Group Company Limited

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