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)

1999 ANNUAL GENERAL MEETING

At the special general meeting held on 23 November 1999, the 
shareholders passed the special resolution to amend the Bye-Laws 
of the Company waiving the requirement to table and adopt the 1999 
Audited Accounts at the AGM (as defined below).

The AGM will be held on 21 December 1999 to consider the other 
ordinary business of the Company except the 1999 Audited Accounts.

Further to the announcement dated 28 October 1999 made by UDL 
Holdings Limited (the "Company"), the board of directors (the 
"Board") of the Company would like to advise that at the special 
general meeting held on 23 November 1999, the shareholders of the 
Company passed the special resolution to amend the Bye-Laws of the 
Company waiving the requirement to table and adopt the audited 
accounts of the Company for the year ended 31 March 1999 (the "1999 
Audited Accounts") at the annual general meeting.

A court hearing of the Company will be held on 1 December 1999 to 
obtain further direction from the court in respect of the timing 
of the further hearing for approval of the implementation of the 
scheme of arrangement (the "Further Hearing") as previously 
announced on 28 October 1999. The Company will address the question 
of the 1999 Audited Accounts after the Further Hearing. Further 
announcement will be made to inform the shareholders of the Company 
of such matter as soon as practicable after the Further Hearing.

In order to comply with the requirements of the Companies Acts 1981 
of Bermuda and the Company's Bye-Laws, the Company announces to 
convene the 1999 annual general meeting of shareholders ("AGM") to 
be held on 21 December 1999 to consider the other ordinary business 
of the Company except the 1999 Audited Accounts. The resolutions 
to be proposed at the forthcoming AGM is set out in the notice below.

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

Hong Kong, 23 November 1999