ASIA ALLIANCE<00616> - Unusual volume movement

The Stock Exchange has received a message from Asia Alliance Holdings 
Limited which is reproduced as follows:-

"This statement is made at the request of The Stock Exchange of Hong Kong 
Limited.

We have noted the recent increases in trading volume of the shares of the 
Company and wish to state that we are not aware of any reasons for such 
increases.

We also confirm that save for the announcement dated 3 January 2005,
there are no negotiations or agreements relating to intended acquisitions 
or realisations which are discloseable under rule 13.23 of the Listing 
Rules, neither is the Board aware of any matter discloseable under the 
general obligation imposed by rule 13.09 of the Listing Rules, which is or 
may be of a price-sensitive nature.

Made by the order of the Board of Asia Alliance Holdings Limited the 
directors of which individually and jointly accept responsibility for the 
accuracy of this statement.

As at the date of this announcement, the Board comprises Mr. Koon 
Wing Yee, Mr. Tsang Yiu Kai and Ms. Lui Yuk Chu as executive directors and 
Mr. Kan Ka Hon, Mr. Kwong Jimmy Cheung Tim and Mr. Lau Sin Ming as 
independent non-executive directors.


For and on behalf of
Asia Alliance Holdings Limited

Tsang Yiu Kai
Executive Director

4 January 2005"