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Ocean Grand Chemicals Holdings Joins Hand with Hong Kong University in Research on Extracting Trace Precious Metals from Industrial Effluents

02 Mar 2006

SECURES HK$0.9 MILLION FROM INNOVATION & TECHNOLOGY FUND

(Hong Kong, 2 March 2006) – Leading precious metals electroplating chemicals manufacturer and trader, Ocean Grand Chemicals Holdings Limited ("Ocean Grand Chemicals" or the "Group") (SEHK code: 2882), a subsidiary of Hong Kong-listed Ocean Grand Holdings Limited (SEHK code: 1220), today announced its University-Industry Collaboration Programme. It is a joint project with The University of Hong Kong ("HKU") to carry out research on efficient extraction of trace precious metals from industrial effluents via novel water compatible solid-phase separable scavengers.

The Group also announced that matching funds of HK$897,250 has been granted to the project by the Innovation and Technology Fund of the Innovation and Technology Commission of the HKSAR Government. The funding is granted to Kenlap P.G.C. Manufacturer Ltd., a subsidiary of Ocean Grand Chemicals Holdings Limited., in collaboration with The University of Hong Kong.

As a leading institution of higher learning in Hong Kong renowned for outstanding teaching and world-class research, the University of Hong Kong has dedicated itself to innovative, high-impact and multidisciplinary research in a wide range of disciplines for over 90 years. To help bridge the gap from research to industry, the University pursues a strategy of active collaboration with the private sector.

Mr. Michael Yip, Chairman of Ocean Grand Chemicals said, "We are very pleased to have HKU as our partner in the research project. The Department of Chemistry of the University of Hong Kong has produced research at the cutting edge of its discipline. The project is a shining example of collaboration between academia and the industrial community in helping to advance technology and the well being of the community at large.

"Furthermore, there are a lot of players in the electroplating business in Hong Kong and environmental discharge costs are high. It is our hope that the project can create a new and cost-effective method for extracting precious metals to benefit not only Ocean Grand, but also the industrial community as a whole in the aspect of environmental protection."

The 18-month research project has already started and is composed of two parts - the first part will be carried out at the university while the second part will be performed at Ocean Grand Chemicals' Zhuhai factory. Professor K Y Chan of the Department of Chemistry, HKU, a specialist in electrochemistry and material science, will lead the project together with Dr. Patrick Toy, who is an eminent organic chemist.

HKU Pro-Vice-Chancellor (Research) Prof. Paul Tam is delighted with the joint project, he said "we are confident that our partnership with Kenlap P.G.C. Manufacturer Ltd and our long-standing collaboration with Ocean Grand Chemicals will result in an effective technology transfer and will be an important contribution to the territory's sustainability. We look forward to our continued alliance in research and development to bring a closer relationship between university and industry".

Professor K Y Chan of the Department of Chemistry, HKU, said, "This project was proposed to HKU by Ocean Grand Chemicals in 2002. Results of research conducted at HKU over the years have been very encouraging and led to the success in securing the ITF funding. As a leading precious metals electroplating chemicals manufacturer and trader, Ocean Grand has rich industrial experience and market knowledge that can contribute greatly to the success of this project. Together with the funding granted, I have great confidence that the technology being developed would be far more cost effective than existing extraction methods in terms of capital, operating and material costs. Furthermore, there will be much improvement in speed of the process and the purity of effluents treated."

Should the project be successful, Ocean Grand Chemicals will own the intellectual properties generated and seek patent protection for them, sharing the resulting royalties with the University. The new technology is expected to bring new business opportunities to the Group and add value for its existing clients.

About Ocean Grand Chemicals Holdings Limited:

Ocean Grand Chemicals, a subsidiary of a leading industrial conglomerate -- Ocean Grand Holdings Limited (HKSE: 1220), is principally engaged in the processing, production and trading of precious metal electroplating chemicals under the leading brand name "Kenlap" in the PRC and Hong Kong.

About The University of Hong Kong

The University of Hong Kong was founded in 1911 and is the first and foremost tertiary institution in Hong Kong. It is a comprehensive and research-led university which has produced over 100,000 graduates, many of whom have become leaders in society. The University was ranked No. 41 in the world and the best university in Hong Kong by the Times Higher Education Supplement.

For enquiries:

Strategic Financial Relations Limited
Heidi So / Daphne Chan
Tel : (852) 2864 4826 / 2864 4817
Email : heidi@strategic.com.hk/daphne@strategic.com.hk

The University of Hong Kong

Cherry Cheung, Senior Press Officer, External Relations Office
Tel: (852) 2859 2606
Fax: (852) 2859 4986
Email: cherry.cheung@hku.hk