Business interests to now include China, page-2

Clarification of Acquisition of eGlobal (Hong Kong) Ltd

Document date: Fri 09 Aug 2002 Published: Fri 09 Aug 2002 09:24:53
Document No: 147863 Document part: A
Market Flag: Y
Classification: Asset Acquisition
EGLOBAL INTERNATIONAL LIMITED 2002-08-09 ASX-SIGNAL-G

HOMEX - Brisbane

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As a clarification to the announcement made on Thursday, 8 August,
2002 in regard to the price to be paid for the proposed acquisition
of eGlobal (Hong Kong) Ltd, the acquisition price to be paid as a
script issue will be determined on the completion of an Independent
Valuation Report and, in any event, will not exceed $4.4 million. The
Independent Valuer will be appointed in the ensuing weeks to commence
the task.

eGlobal International Limited will commence due diligence on eGlobal
(Hong Kong) Ltd when a Term Sheet is signed by both parties to the
proposed transaction.

The transaction will be subject to the satisfactory completion of the
due diligence process by eGlobal International Limited, the valuation
of eGlobal (Hong Kong) Ltd to be completed by the Independent Expert,
and eGlobal International Limited shareholders' approval.

In addition, a detailed Information Memorandum will be prepared for
issue to all Shareholders and an Extraordinary General Meeting will
be convened to obtain Shareholder approval of the proposed
transaction.

Further information in regard to this proposed transaction will be
released to the market as and when it comes available.


Further Information: Alan Smith
Company Secretary
(07) 3369 6899