ASIA ALLIANCE<00616> - Unusual price & volume movements

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 decreases in the price and the increases in 
trading volume of the shares of the Company and wish to state that we are 
not aware of any reasons for such movements.

We also confirm that save for the announcement dated 22 July 2005 in 
relation to the proposed capital reorganisation, proposed rights issue on 
the basis of ten rights shares for every consolidated share held and 
general mandates to issue new consolidated shares and repurchase 
consolidated shares, 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

Koon Wing Yee
Chairman & Chief Executive Officer

25 July 2005"