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

We have noted the recent increase in price and increase in trading volume 
of the shares of the Company and wish to state that we are not aware of 
any reasons for such increases, save as the announcements dated 6 August 
2003, 8 August 2003 and 26 August 2003.

We also confirm that there are no negotiations or agreements, relating to 
intended acquisitions or realizations which are discloseable under 
paragraph 3 of the Listing Agreement, neither is the Board aware of any 
matter discloseable under the general obligation imposed by paragraph 2 of 
the Listing Agreement, which is or may be of a price-sensitive nature.

Made by the order of the Board of Pioneer Global Group Limited, the 
directors of which individually and jointly accept responsibility for the 
accuracy of this statement.


Kenneth Gaw

3 September 2003"