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 increases 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 increases.

We also confirm that save for the announcement dated 22 July 2005 and the 
circular dated  15 August 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

Tsang Yiu Kai
Vice Chairman & Executive Director

29 August 2005"