UDL HOLDINGS<0620> - Announcement


The Stock Exchange of Hong Kong Limited takes no 
responsibility for the contents of this announcement, 
makes no representation as to its accuracy or completeness 
and expressly disclaims any liability whatsoever for any 
loss howsoever arising from or in reliance upon the whole 
or any part of the contents of this announcement.

UDL Holdings Limited
(incorporated in Bermuda with limited liability)

Announcement

Summary

The board of directors (the "Board") of UDL Holdings 
Limited (the "Company") would like to update the 
shareholders and the public on the postponement of the 
court hearing date of a winding-up petition presented by 
Mr. So Kam Ming together with 3 other claimants (the 
"Petitioners") against UDL Ship Management Limited ("UDL 
Ship Management"), a wholly-owned subsidiary of the 
Company, to 31 May, 1999.

As previously announced on 28 April 1999, the captioned 
winding-up petition is filed by the Petitioners against 
UDL Ship Management in relation to an outstanding 
severance payment totalling HK$129,005.70 together with 
interest thereon. At a hearing on 3 May, 1999, the Court 
granted an order that the said petition be adjourned to 31 
May, 1999.

The Company is still negotiating a scheme of arrangement 
with creditors, therefore, the Board is of the view that 
the aforesaid winding-up petition has no significant 
impact on the Company.

Save as disclosed herein, the Board of the Company is not 
aware of any other matter discloseable under the general 
obligation imposed by paragraph 2 of the Listing Agreement, 
which is or may be of a price sensitive nature.

Meanwhile  shareholders of the Company should exercise 
extreme caution when dealing in the shares of the Company. 
Further announcement will be made when there are any 
material development regarding the above-mentioned matter.

   By Order of the Board
   UDL Holdings Limited
   Leung Yat Tung
   Chairman

Hong Kong, 3 May, 1999