ASIA ALLIANCE<00616> - Share Consolidation

Market participants are requested to note that the shareholders of 
Asia Alliance Holdings Limited ("ASIA ALLIANCE") have approved the 
consolidation of shares on the basis of 10 then existing ordinary
shares ("Old Shares") of ASIA ALLIANCE into 1 new ordinary shares 
("New Shares").  Effective from Friday (09/09/2005), a temporary 
counter under stock code 2905 and stock short name "ASIA ALLIANCE" 
will be established for trading in board lots of 400 New Shares 
each to replace the previous counter (stock code: 616) for trading 
in board lots of 4,000 Old Shares each.