We are pleased to announce that we have come to an agreement under which Traxler Limited will sell its business to Shriro (H.K.) Ltd.

The Shriro Group, as you are aware, is the owner of Hasselblad of Sweden and has recently acquired Imacon, a leading supplier of professional digital camera backs.

Shriro (H.K.) Limited, the Hasselblad distributor in Hong Kong and China for over 40 years, has established Hasselblad as the clear market leader in China and also represents a number of professional equipment brands.

Traxler Limited has been a reputed supplier of high-end professional photographic equipment and solutions with a comprehensive product portfolio including world-leading brands such as Broncolor, Gitzo and Imacon.

Mr. Egon Heldner will join Shriro (H.K.) Ltd. as Managing Director as of 1st October, 2004. The business of Traxler Limited will be transferred to Shriro (H.K.) Ltd. during the month of October.

This entire undertaking has been driven by both parties conviction that the combined portfolio, network and know-how base of Shriro (H.K.) Ltd. and Traxler Limited will lead to the formation of a formidable marketing and service organization, covering both the high-end amateur as well as the professional photography segment with an unmatched portfolio of leading brands.

It is both parties firm belief that the planned merger will bring substantial benefits to both our customers and principals. We are determined to not only ensure deliverance of all existing commitments, but to work hard to add value to our existing partnerships.

SHRIRO PACIFIC LTD.

Michael Binns
Managing Director

For any questions concerning this matter kindly contact:

Shriro Pacific Ltd., Mr. Michael Binns, Managing Director, Tel: +852 2522 7796, mrbinns@shriro.com

Traxler Limited, Mr. Egon Heldner, Managing Director, Tel: +852 2889 8169, egon.heldner@traxler.com.hk