CHINA FASHION HOLDINGS LIMITED: NOTICE OF A DIRECTOR'S (INCLUDING A DIRECTOR WHO IS A SUBSTANTIAL SHAREHOLDER) INTEREST AND CHANGE IN INTEREST

Notice of Interest/Change in Interest
* Asterisks denote mandatory information
Name of Announcer *	CHINA FASHION HOLDINGS LIMITED
Company Registration No.	2003011696K
Announcement submitted on behalf of	CHINA FASHION HOLDINGS LIMITED
Announcement is submitted with respect to *	CHINA FASHION HOLDINGS LIMITED
Announcement is submitted by *	Chen Xi Jian
Designation *	Executive Chairman and CEO
Date & Time of Broacast	21-May-2007 17:36:37
Announcement No.	00076
Price Sensitivity	Yes

>> Announcement Details

The details of the announcement start here ...

>> Part I
1. Date of notice to issuer *	15/05/2007
2. Name of Director *	Chen Xi Jian
3. Please tick one or more appropriate box(es): *
- Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest. [Please complete Part II and IV]

>> Part II
1. Date of change of Shareholding	15/05/2007
2. Name of Registered Holder	Chen Xi Jian
3. Circumstance(s) giving rise to the interest or change in interest	# Others
# Please specify details	Conversion of S$850,000 Unsecured Non-Interest Convertible Notes Due 2011 by Pacific Capital Investment Management Limited.
4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change	35,273,525
As a percentage of issued share capital	27.9 %
No. of Shares which are subject of this notice	0
As a percentage of issued share capital	0 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received	0
No. of Shares held after the change	35,273,525
As a percentage of issued share capital

>> Part III
1. Date of change of [Select Option]
2. The change in the percentage level	From % to %
3. Circumstance(s) giving rise to the interest or change in interest	[Select Option]
# Please specify details
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions

>> Part IV
1. Holdings of Director, including direct and deemed interest:
	Direct	Deemed
No. of shares held before the change	35,273,525	11,990,000
As a percentage of issued share capital	27.9 %	9.48 %
No. of shares held after the change	35,273,525	11,990,000
As a percentage of issued share capital	26.49 %	9.00 %

Footnotes

The issued and paid up share capital of the Company has increased from 126,414,025 shares to 133,160,025 shares as a result of the conversion of S$850,000 Unsecured Non-Interest Convertible Notes Due 2011 at S$0.126 per share into 6,746,000 ordinary shares. The percentage before change is computed based on 126,414,025 shares before the conversion and the percentage after change is computed based on 133,160,025 shares after taking in the conversion.