(Hong Kong, 14 November 2007) 139 Holdings Limited (“139 Holdings” or the “Group”) (SEHK: 139), today announces that through the referral agreement with Golden Resources Development International Limited (SEHK: 677), the Group’s wholly owned subsidiary, GR Vietnam Retails Limited, enters into a partnership with Food Company of Ho Chi Minh City, a wholly-owned member of Vietnam Southern Food Corporation (“Vinafood II”), engaging in the development of convenience store and other retailing business and commercial business activities in Vietnam.

Meanwhile, 139 Holdings also announced the proposed change of the name of the Group to “GR Vietnam Holdings Limited” (“GR Vietnam”). The proposed change of name of the Group is subject to the passing of the special resolution by shareholders at the special general meeting scheduled to be held on 19 November 2007. A further announcement will be made once the change of name of the Group becomes effective.

Mr. Howard Wong, Chairman of the Group said, “We are very excited to form this exclusive partnership with Vinafood II to set up and operate convenience stores in Vietnam. With the full support from the Vietnamese government and Vinafood II, this partnership allows the Group to establish a foothold in the growing Vietnam markets, marking our initial step in venturing the Vietnam market, while we are eyeing to extend our proximity to other Asian wide countries. As the country continues its ascent, the Vietnamese demand on retail market will continue to rise. We believe this will become a key future revenue driver of the Group.”

Mr. Wong added, “To show our dedication and commitment in building our future conglomerate in Vietnam, we have proposed to rename our Group to GR Vietnam, reflecting our new business positioning in Vietnam.”

Mr. Tran Van Ven, Chairman of Vietnam Southern Food Corporation said, “Since Vietnam got accepted in World Trade Organization in 2006, it has proven to be an irresistible object for the global retailers. Vietnam is highly attractive to foreign retailers, who see Vietnam as a test site and entry point to larger Asian markets. The improved economic conditions in Vietnam in the recent years are the leading cause to the rising of consumers spending power. The Vietnamese government is proud to witness its economic transformation and completely supports the big foreign players’ decision to enter the Vietnam market.”

Vietnam Southern Food Corporation is a state owned enterprise under the Government of Vietnam. Aside from being Vietnam’s largest rice exporter, it also carries out exports of various agricultural and aquatic products, imports of fertilizer and farming machineries and processing of certain consumer food products.

Vietnam, with an estimated population of over 85 million people, is the second fastest growing economy in the world, also emerging as the world’s third most attractive marketplace for retailers. Its gross domestic product (“GDP”) grew a robust 8.4 percent last year, outpacing other countries of their GDP growth rate. Driven by rising consumer demand, consumer spending in Vietnam rose 16 percent last year, and retail sales increased 20 percent over the previous year.

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About 139 Holdings Limited

The principal activity of the Group is investment holdings. Under a referral agreement with Golden Resources Development International Limited (“Golden Resources”), Golden Resources will introduce the Group to Vinafood II and an independent third party to explore business opportunities in Vietnam relating to establishing, developing and operating convenience stores, the provision of logistic services and investments in The Saigon Port – Hiep Phuoc Joint Stock Company. These proposed investments allow the Group to take advantage of opportunities to establish a foothold in the growing Vietnam market, bringing a myriad of economic benefits to the Group. Also, the Group proposed to change its name to GR Vietnam Holdings Limited in a view to facilitate the Group to capture business opportunities in the Vietnam market and to provide a better reflection of the Group’s future expansion of businesses.

Issued by PR ASIA Consultants Limited on behalf of 139 Holdings Limited.

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