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G.B.M. G.B.S., LL.D., J.P. G.B.S. S.B.S., J.P. DSSc. (Hon.), J.P. G.B.S., J.P. 120

www.tvb.com 121

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0 5 10 15 4 2 2006 NBC Universal Inc. All Rights Reserved. 128

2004 Columbia Pictures Industries, Inc. All Rights Reserved. Spider-Man character & 2004 Marvel Characters, Inc. All Rights Reserved. 129

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G.B.M. G.B.S., LL.D., J.P. 140

G.B.S. 141

S.B.S., J.P. (1975) (1979) 142

DSSc. (Hon.), J.P. G.B.S., J.P. Beyond International Limited 143

STAR-TV 144

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34 4 166 20317 79B3,696,014,000 3,506,504,000 438,000,0001.50 0.301.80 1.70 183 17 1712-1716 220,000 5 16 146

161 # # # * * * * # * # * 109 114(A) 140 145 147

352 0.05 (%) 602,144 1,146,000# 400,000 100,000 1,146,000# 141,174,828*(a) 16,701,000 (b) 300,000 (c) 142,320,828 17,303,144 1,146,000 400,000 300,000 100,000 32.49% 3.95% 0.26% 0.09% 0.07% 0.02% #* * (a) 113,888,62827,286,200 Shaw Holdings Inc. 74.58% 100%Shaw Holdings Inc.100% (b) Trio Investment Corporation S.A.10,377,000Crystal Investments Limited1,581,000Compass Inc. 3,162,000Bonus Inc.1,581,000 (c) 100% 148

336 5% Marathon Asset Management Matthews International Capital Management, LLC 0.05 113,888,628* 27,286,200* 24,007,504 (a) 21,923,833 (a) (%) 26.00% 6.23% 5.48% 5.00% ** (a) 336 5% 14A a) MEASAT Broadcast Network Systems Sdn. Bhd.MBNS MBNS 79,828,00034,928,000 b) MBNS MBNS 28,681,00012,549,000 149

c) TVB Satellite TV Entertainment LimitedTVBSEMBNS TVBSE MBNS TVBSETVBSE 44,442,00019,445,000 d) MBNS TVBSEMBNSTVBSE MBNS TVBSE46,849,00020,498,000 e) TVBO Facilities LimitedTVBOFTVB Satellite Broadcasting LimitedTVBSB MBNSMBNSTVBOF TVBSB MBNS TVBOF TVBSB 33,735,00014,760,000 f) MBNS (i) MBNS 600MBNS (ii) MBNS (iii)tvbof MBNSTVBOF 49,521,00021,667,000 1(a) (f)(i) (ii) (iii) 1(a) (f) (i) (ii) (iii) (iv) 107 2,598,000,000 623,520,000 150

210 21122 152 157 158 156 25% 278 30% 151

14 101 152

140143 3.13 153

A * A1 A A1 * 154

2/5 2/6 5/5 6/6 5/5 6/6 2/5 1 1/1 2/2 2 5/5 6/6 4/5 5/6 4/5 1/1 5/5 3/3 1/1 5/5 3 3/3 1/1 4 5/5 3/3 1/1 1. 2. 3. 4. 155

210 212 156

114(D) A.4.2 114(D) 10 157

3.21 3.21 162 1,139 2,864 1,086 2,964 90 1,740 279 1,376 4,004 4,050 1,830 1,655 3,525 3,591 1,414 1,313 158

159

21 160

4,326 4,201 4,177 3,817 3,311 1,550 1,436 1,420 902 485 284 247 232 152 25 1,264 1,189 1,180 719 441 2.89 2.71 2.69 1.64 1.01 1,722 1,731 1,896 2,050 2,167 186 184 188 193 198 163 162 161 55 63 85 150 246 280 238 76 32 31 56 64 4,019 3,428 2,800 2,200 1,988 (741) (676) (749) (855) (1,112) 5,510 5,011 4,573 3,979 3,606 22 22 22 22 22 5,322 4,823 4,360 3,649 3,274 5,344 4,845 4,382 3,671 3,296 25 23 23 117 84 141 143 168 191 226 5,510 5,011 4,573 3,979 3,606 17 161

22 +852 2289 8888 +852 2810 9888 pwchk.com 163 224 141 162

5 1,721,921 1,731,207 6 185,775 183,848 7 163,034 162,184 9 84,951 150,213 10 3 3 11 3,190 6,666 19 10,725 25,121 13 62,482 2,232,081 2,259,242 460,720 442,319 12 9,482 14,439 13 1,405,703 1,372,347 443 1,450 14 1,692 239 131,683 38,026 15 2,008,895 1,559,079 4,018,618 3,427,899 6,250,699 5,687,141 16 21,900 21,900 17 685,832 669,823 27 657,000 635,100 3,979,253 3,518,325 5,343,985 4,845,148 24,765 23,199 5,368,750 4,868,347 19 126,112 126,443 20 14,637 16,515 140,749 142,958 163

18 668,365 593,994 72,835 81,842 741,200 675,836 881,949 818,794 6,250,699 5,687,141 3,277,418 2,752,063 5,509,499 5,011,305 169224 164

5 1,496,258 1,483,838 6 179,280 183,848 8 359,699 493,702 9 164,533 155,595 2,199,770 2,316,983 401,785 365,760 12 1,781 1,870 13 943,197 917,261 96,113 15 1,328,704 994,354 2,771,580 2,279,245 4,971,350 4,596,228 16 21,900 21,900 17 712,144 712,144 27 657,000 635,100 2,969,014 2,801,404 4,360,058 4,170,548 19 107,973 105,756 107,973 105,756 18 462,344 270,466 40,975 49,458 503,319 319,924 611,292 425,680 4,971,350 4,596,228 2,268,261 1,959,321 4,468,031 4,276,304 169224 165

4 4,325,809 4,201,186 (1,763,971) (1,778,433) 2,561,838 2,422,753 4 103,960 73,896 (453,001) (451,064) (569,801) (504,427) 26,529 57,670 4(b) 140,000 4(a) (135,000) 23 (98) (124,982) (163,109) 21 1,549,543 1,435,621 24 (284,322) (247,181) 1,265,221 1,188,440 25 1,263,684 1,188,597 1,537 (157) 1,265,221 1,188,440 26 2.89 2.71 27 788,400 744,600 169224 166

21,900 700,132 3,659,715 23,320 4,405,067 (46,296) 36 (46,260) (46,296) 36 (46,260) 1,188,597 (157) 1,188,440 (46,296) 1,188,597 (121) 1,142,180 15,987 (15,987) (569,400) (569,400) (109,500) (109,500) 21,900 669,823 4,153,425 23,199 4,868,347 21,900 669,823 4,153,425 23,199 4,868,347 1,653 29 1,682 1,653 29 1,682 1,263,684 1,537 1,265,221 1,653 1,263,684 1,566 1,266,903 14,356 (14,356) (635,100) (635,100) (131,400) (131,400) 21,900 685,832 4,636,253 24,765 5,368,750 169224 167

28 1,681,545 1,662,627 (212,930) (257,480) (65,252) (35,943) 1,403,363 1,369,204 (196,961) (95,439) (62,482) (93,657) (2,737) 4,209 9 (50,000) (6,495) 4(b) 140,000 86,275 (56,280) (56,876) 353 974 77,700 45,610 (187,333) (78,473) (1,453) (3) (766,500) (678,900) (767,953) (678,903) 448,077 611,828 1,559,079 944,670 1,739 2,581 2,008,895 1,559,079 169224 168

1 1.1 1.8 3 (a) 1 7 9 10 (b) 23 27 3 8 13 169

1 1.2 (a) 1.6 1.7 (b) (c) 20% 50% 170

1 1.2 (c) 1.7 1.3 1.4 (a) (b) 171

1 1.4 (b) (c) (i) (ii) (iii) 1.5 172

1 1.5 2.5% 5% 10% 20% 5% 25% 25% 1.7 1.6 1.7 173

1 1.8 (a) (b) 1.11 (c) 174

1 1.8 1.11 1.9 1.10 1.11 175

1 1.12 1.13 1.14 1.15 1.16 (a) 176

1 1.16 (b) 5%1,000 10% 5% 1,000 10% 10% 177

1 1.17 1.18 1.19 178

1 1.20 (a) (b) 1.21 (a) (b) (c) (d) (e) (i) (ii)(iii) (a) (c) (c) (d) 1.22 1.23 179

2 (a) (i) 10% 11,110 10,501 (10%) (11,110) (10,501) 10% 6,794 5,581 (10%) (6,794) (5,581) 180

2 (a) (ii) 100 1,850,000 1,201,000 18,696,00013,443,000 (iii) (b) BBB (c) 181

3 (a) 1.67 (b) (c) 39 13 135,000,000 (d) 16 182

3 (e) (f) 4 183

4 2,691,325 2,681,120 824,692 815,500 454,497 422,625 405,785 328,441 4,376,299 4,247,686 (50,490) (46,500) 4,325,809 4,201,186 89,165 58,080 14,795 15,816 103,960 73,896 4,429,769 4,275,082 184

4 2,365,857 635,499 280,752 947,777 95,924 4,325,809 7,405 107,269 470 16,888 5,233 (137,265) 2,373,262 742,768 281,222 964,665 101,157 (137,265) 4,325,809 951,729 440,325 59,186 191,902 26,407 (24) 1,669,525 (a) (135,000) (135,000) 951,729 440,325 59,186 56,902 26,407 (24) 1,534,525 (b) 140,000 140,000 (124,982) (124,982) 1,549,543 (284,322) 1,265,221 201,318 6,627 6,447 32,941 1,281 248,614 4,568 4,568 185

4 (a) (b) 39 135,000,000 TVB Satellite TV Holdings Limited140,000,000 Gemstone Pacific Limited 217,173,552 20% 140,000,000 2,209,351 622,065 245,113 1,010,749 113,908 4,201,186 9,247 101,597 432 13,005 5,420 (129,701) 2,218,598 723,662 245,545 1,023,754 119,328 (129,701) 4,201,186 917,680 441,017 28,187 187,280 24,653 11 1,598,828 (98) (163,109) (163,109) 1,435,621 (247,181) 1,188,440 198,114 7,178 9,687 44,948 1,278 261,205 4,568 4,568 186

4 4,201,460 319,896 151,616 891,658 151,139 5,715,769 164,533 (79,582) 84,951 3 3 3,190 3,190 446,786 6,250,699 388,601 67,681 70,549 137,703 18,468 683,002 198,947 881,949 214,415 3,913 5,170 12,172 3,010 238,680 187

4 3,690,330 274,533 123,307 928,840 116,676 5,133,686 155,595 (5,382) 150,213 3 3 6,666 6,666 396,573 5,687,141 270,272 81,992 71,607 162,016 24,622 610,509 208,285 818,794 49,956 2,538 2,851 39,402 692 95,439 5 188

4 189

4 2,689,295 2,548,729 1,026,951 990,603 654,339 743,010 133,723 150,066 212,721 209,013 120,702 113,355 88,442 71,313 9,545 (27) 100,694 95,589 26,003 16,784 183,786 171,869 121,741 115,459 365,772 331,513 216,706 195,891 30,760 30,150 14,154 16,697 4,325,809 4,201,186 1,669,525 1,598,828 (135,000) 1,534,525 1,598,828 (98) 140,000 (124,982) (163,109) 1,549,543 1,435,621 190

4 4,667,136 4,141,898 220,836 52,899 588,381 614,605 12,060 39,176 144,344 102,757 713 957 20,980 15,447 4,398 350 106,409 79,520 393 1,829 40,102 34,406 98 30 135,685 124,053 12,732 21,000 182 198 84,951 150,213 3 3 3,190 6,666 446,786 396,573 5,715,769 5,133,686 238,680 95,439 6,250,699 5,687,141 191

5 (a) 1,063,763 70,971 1,604,670 626,827 44,825 3,411,056 1,382 740 7,597 2,504 202 12,425 637 1,215 79,237 13,884 466 95,439 (158) 11,397 (11,239) (303) (11,682) (26,488) (1,358) (39,831) 1,065,624 72,623 1,691,219 605,488 44,135 3,479,089 1,065,624 72,623 1,691,219 605,488 44,135 3,479,089 1,024 828 4,158 1,096 165 7,271 2,709 3,814 210,746 19,233 2,178 238,680 (77) (41,251) (7,027) (1,127) (49,482) 1,069,357 77,188 1,864,872 618,790 45,351 3,675,558 127,554 63,308 1,057,177 232,790 34,127 1,514,956 255 697 6,612 1,994 148 9,706 38,953 3,861 158,230 56,024 4,137 261,205 (1) 5,892 (5,891) (303) (11,060) (25,990) (632) (37,985) 166,761 67,563 1,216,851 258,927 37,780 1,747,882 166,761 67,563 1,216,851 258,927 37,780 1,747,882 218 664 3,625 908 117 5,532 38,970 1,841 155,311 49,130 3,362 248,614 (77) (40,389) (6,798) (1,127) (48,391) 205,949 69,991 1,335,398 302,167 40,132 1,953,637 863,408 7,197 529,474 316,623 5,219 1,721,921 898,863 5,060 474,368 346,561 6,355 1,731,207 (i) (ii) 76,307,000 75,754,000 92,069,000 192

5 (b) 920,232 3,990 1,134,113 512,017 33,561 2,603,913 53 45,319 4,549 35 49,956 (216) 2 (214) (243) (3,370) (4,332) (1,138) (9,083) 920,285 3,747 1,175,846 512,236 32,458 2,644,572 920,285 3,747 1,175,846 512,236 32,458 2,644,572 201,482 12,842 91 214,415 (5,266) 5 (5,261) (35,071) (5,923) (292) (41,286) 920,285 3,747 1,336,991 519,160 32,257 2,812,440 101,226 3,990 694,126 146,346 25,125 970,813 36,817 113,061 44,678 3,558 198,114 (216) 2 (214) (243) (3,250) (4,059) (427) (7,979) 138,043 3,747 803,721 186,967 28,256 1,160,734 138,043 3,747 803,721 186,967 28,256 1,160,734 36,811 121,939 39,871 2,696 201,317 (5,272) 1 (5,271) (34,517) (5,789) (292) (40,598) 174,854 3,747 885,871 221,050 30,660 1,316,182 745,431 451,120 298,110 1,597 1,496,258 782,242 372,125 325,269 4,202 1,483,838 92,069,000 193

6 179,280 183,848 179,280 183,848 6,495 185,775 183,848 179,280 183,848 183,848 188,416 183,848 188,416 6,495 21 (4,568) (4,568) (4,568) (4,568) 185,775 183,848 179,280 183,848 207,472 200,977 200,977 200,977 (21,697) (17,129) (21,697) (17,129) 185,775 183,848 179,280 183,848 194

7 166,897 (5,894) 161,003 161,003 1,181 162,184 168,078 (5,894) 162,184 162,184 850 163,034 168,928 (5,894) 163,034 195

7 49,448 49,448 113,586 113,586 49,448 113,586 163,034 49,448 49,448 112,736 112,736 49,448 112,736 162,184 47% 34% -18% 6% 12.55% 12.55% 196

8 11,135 1,100 348,564 492,602 359,699 493,702 34 9 316,127 533,300 (446,491) (538,682) (130,364) (5,382) (a) 207,224 115,564 157,224 115,564 (a) 8,091 40,031 7,309 40,031 84,951 150,213 164,533 155,595 316,127 533,300 (a) (b) 157,224,00050,000,000 32(d) 130,364,0005,382,000 (a) 212,691,000 32(c) 197

9 TVB3 Network Company Limited 10 40% 1 29% 4(b) # 1 29% 4(b) # 95,044 177,454 (82,410) 99,508 (124,982) 207,918 213,300 (5,382) 87,428 (163,109) 10 3 3 3 3 198

11 3,190 6,666 2% 12 13 30(a) 62,482 349,499 231,069 346,998 228,450 76,926 63,865 984,066 952,998 661,690 626,571 1,410,491 1,247,932 1,008,688 855,021 3(c) (136,808) (1,803) (135,000) (75,308) (72,198) (28,334) (33,554) 139,572 150,865 97,843 95,794 67,756 47,551 1,405,703 1,372,347 943,197 917,261 1,468,185 1,372,347 943,197 917,261 199

13 480,843 443,681 254,454 233,360 274,129 258,383 222,077 209,957 165,614 173,324 139,746 138,996 88,481 95,638 63,475 68,358 49,148 57,153 38,747 39,789 351,875 217,491 290,189 164,561 1,410,090 1,245,670 1,008,688 855,021 984,066 952,998 661,690 626,571 426,024 292,672 346,998 228,450 1,410,090 1,245,670 1,008,688 855,021 401 2,262 1,410,491 1,247,932 1,008,688 855,021 1,035,558 1,004,845 699,085 672,808 147,010 136,549 132,525 116,663 15,406 32,537 13,744 31,996 1,197,974 1,173,931 845,354 821,467 (577,763) (554,441) (389,797) (373,898) 620,211 619,490 455,557 447,569 200

13 % % 74 72 7 6 10 13 5 5 4 4 100 100 74,001 68,031 3(c) 135,000 17,137 20,132 (7,825) (14,000) (6,427) (232) 230 70 212,116 74,001 201

14 1,692,000239,000 15 261,127 241,842 51,639 81,758 1,747,768 1,317,237 1,277,065 912,596 2,008,895 1,559,079 1,328,704 994,354 16 0.05 1,300,000,000 65,000 438,000,000 21,900 202

17 (a) 602,026 70,000 864 19,407 40,118 (32,283) 700,132 (46,296) (46,296) 15,987 15,987 602,026 70,000 864 35,394 40,118 (78,579) 669,823 602,026 70,000 864 35,394 40,118 (78,579) 669,823 1,653 1,653 14,356 14,356 602,026 70,000 864 49,750 40,118 (76,926) 685,832 (b) 602,026 70,000 40,118 712,144 10% 1.4 79B 3,696,014,0003,506,504,000 203

18 32(c) 4,627 5,157 32(c) 2,881 109 140,466 80,104 109,781 39,649 147,974 85,370 109,781 39,649 73,778 520,391 508,624 278,785 230,817 668,365 593,994 462,344 270,466 105,136 48,181 85,184 26,783 28,595 22,253 17,571 9,441 9,723 8,433 5,695 2,518 2,330 3,437 869 221 653 866 437 283 1,537 2,200 25 403 147,974 85,370 109,781 39,649 19 101,322 125,382 105,756 118,562 (75) (91) 24 14,140 (23,969) 2,217 (12,806) 115,387 101,322 107,973 105,756 204

19 455,389,000474,587,000 36,652 455,389 437,935 455,389 474,587 (a) 112,894 128,902 21,050 31,590 133,944 160,492 334 (16,012) (2,928) (10,564) (2,594) (26,576) 1 4 26 24 27 28 113,229 112,894 18,148 21,050 131,377 133,944 182 17,350 19,832 15,272 15,096 32,622 35,110 (182) (16,503) (2,540) (231) 115 (16,734) (2,607) 47 58 55 61 102 119 894 17,350 15,096 15,272 15,990 32,622 205

19 (b) 109,757 123,307 374 1,030 110,131 124,337 2,064 (13,550) 1,028 (656) 3,092 (14,206) 111,821 109,757 1,402 374 113,223 110,131 4,375 5,775 4,375 5,775 875 (1,400) 875 (1,400) 5,250 4,375 5,250 4,375 (10,725) (25,121) 126,112 126,443 107,973 105,756 115,387 101,322 107,973 105,756 206

20 (a) 7,629 7,830 (b) 14,637 16,515 22,266 24,345 (a) 2,301,0003,401,000 7,629,0007,830,000 (b) 63,334 52,534 (33,435) (27,528) 29,899 25,006 (15,262) (8,491) 14,637 16,515 207

20 (b) 4,551,000 % % 13,234 40 12,313 45 3,735 11 4,586 16 8,666 26 9,332 34 7,800 23 1,297 5 33,435 100 27,528 100 52,534 47,120 1,107 1,385 1,835 1,666 7,367 1,863 491 500 63,334 52,534 27,528 21,428 754 614 56 (29) 4,838 5,287 259 228 33,435 27,528 208

20 (b) 1,107 1,385 1,836 1,666 (754) (614) 665 666 22(b) 2,854 3,103 810,000585,000 % % 3.00 3.50 2.50 2.50 2.00 3.00 3.00 63,334 52,534 (33,435) (27,528) 29,899 25,006 1,355 1,627 (56) 30 209

21 (26,529) (57,670) 738 872 4,221 3,623 1,830 1,655 1,168,902 1,170,761 248,614 261,205 6 4,568 4,568 41,962 48,286 29,719 27,080 22(b) 1,272,836 1,169,257 22 (a) G.B.M. 900 900 G.B.S., LL.D., J.P. 75 4,380 12 4,467 225 1,200 1,425 S.B.S., J.P. 105 105 G.B.S. 75 75 (i) 35 35 165 165 150 150 DSSc. (Hon.), J.P. 75 75 150 150 G.B.S., J.P.(ii) 60 60 (iii) 245 245 2,260 5,580 12 7,852 210

22 (a) G.B.M. 900 900 G.B.S., LL.D., J.P. 53 4,247 12 4,312 244 703 947 43 994 3,000 99 4,136 S.B.S., J.P. 56 56 G.B.S. 53 53 85 85 115 115 96 96 DSSc. (Hon.), J.P. 56 56 128 128 213 213 2,042 5,944 3,000 111 11,097 (i) (ii) (iii) (b) 1,195,406 1,094,072 74,576 72,082 2,854 3,103 1,272,836 1,169,257 211

22 (c) (a) 13,106 9,199 5,517 5,512 658 620 19,281 15,331 3,000,0013,500,000 1 3,500,0014,000,000 1 1 4,000,0014,500,000 1 1 7,500,0018,000,000 1 1 4 3 23 98 212

24 17.5%17.5% 211,266 213,192 58,716 57,803 200 155 19 14,140 (23,969) 284,322 247,181 1,549,543 1,435,621 17.5%17.5% 271,170 251,234 (12,491) (19,653) 21,872 28,544 (38,410) (8,467) 35,005 1,582 558 2,437 (6,185) (11,839) (638) (2,746) 14,046 7,158 (332) (985) (473) (239) 200 155 284,322 247,181 25 956,010,000937,458,000 213

26 1,263,684,0001,188,597,000 438,000,000 27 0.300.25 131,400 109,500 1.501.45 657,000 635,100 788,400 744,600 1.50 28 1,549,543 1,435,621 253,182 265,773 738 872 135,000 124,982 163,109 (140,000) (1,042) (89,165) (58,080) (3,454) (52,822) 1,830,826 1,753,431 (13,444) 7,258 (166,611) (103,712) 32,652 7,638 (1,878) (1,988) 1,681,545 1,662,627 214

29 (a) 10,393 8,675 (b) 23,990,000 23,561,00020,205,000 74,287,000 75,015,00065,819,000 30 (a) 1,046,897 792,171 874,573 720,031 629,111 28,461 62,854 25,236 1,676,008 820,632 937,427 745,267 259,800,000 62,482,0002,598,000,00010% 2,338,200,000562,337,000 215

30 (b) 29,097 23,598 4,345 1,520 52,009 40,167 5,740 524 5,218 86,324 63,765 10,085 2,044 38,845 35,503 141 331 42,371 68,490 141 1,096 81,216 105,089 141 472 167,540 168,854 10,226 2,516 21 (c) 4,402 6,238 4,402 6,238 4,419 4,419 4,402 10,657 4,402 10,657 216

31 32 (a) (i) 203,417 197,781 (i) 1,800 2,131 (i) 316 6,615 (i) 6,376 6,377 (i) 3,039 3,259 (ii) 192,740 143,928 (ii) 46,849 40,305 (ii) 33,735 31,345 (ii) 8,685 (ii) 2,743 (iii) 1,170 971 (iv) 3,488 5,569 (v) 1,692 (vi) 1,200 507,250 438,281 (i) (33,256) (36,207) (i) (6,268) (3,245) (vii) (1,538) (2,588) (viii) (2,463) (ix) (239) (1,836) (x) (617) (44,381) (43,876) 217

32 (a) (i) (ii) (iii) 4(a) MEASAT Broadcast Network Systems Sdn. Bhd. All Asia Multimedia Networks FZ-LLC (iv) (v) (vi) East Asia Entertainment Ltd. (vii) Celestial Television Networks Ltd. (viii) (ix) Celestial Productions Limited (x) (b) 24,873 24,385 218

32 (c) (i) 349,499 231,069 (ii) 76,926 63,865 426,425 294,934 4,627 5,157 2,881 109 7,508 5,266 (i) (ii) 136,808,000 1,803,000 3(c) 2,262,000 2,262,000 219

32 (d) 6,666 6,712 (4,209) 324 480 (324) (516) 733 (10) 3,190 6,666 155,595 144,069 50,000 12,584 11,526 (2,864) 215,315 155,595 2% 115,564,0008% 157,224,000 1% 32,414,000 50,000,000 1.5% 33 220

34 # itvb Holdings Limited 10,000 100 100 # Jade Animation International Limited 12,000 100 100 2 100 100 # OHE Facilities Limited 20,000 100 100 * # TVB Investment Limited # TVB Satellite TV Holdings Limited TVBO Production Limited * 500,000 100 100 1 100 100 20,000 100 100 1 100 100 12,000 100 100 2,000,000 100 100 12,000 100 100 10,000,000 100 100 10,000 73.68 221

34 Capital Empire Limited CC Decoders Ltd. 1,000 100 2 100 # Condor Entertainment B.V. 18,400 100 # Extra Profit Holdings Limited 10,000,000 100 1 100 # Fairwork Group Limited 1,000 100 # Golden Star Video Library Sdn. Bhd. 10,000 51 199,800,000 92.51 # itvb Limited 10,000 100 Jade Multimedia International Limited * Oriental Home Entertainment Inc. Peony Holding N.V. 2 100 500,000 100 12,000 100 880,000,000 100 100 100 100 6,000 100 222

34 # Request Investments Limited 1 100 # 4 100 The Chinese Channel Limited The Chinese Channel (France) SAS # The Chinese Channel (Holdings) Limited # Toysters Animation International Ltd. TVB (Australia) Pty. Ltd. 1,111 100 37,000 100 89,640 100 1,000 55 5,500,000 100 10,000 100 * TVB Holdings (USA) Inc. # TVB International Limited 6,010,000 100 10,000 100 TVB 25,000 100 # TVB (Overseas) Limited 12,000 100 20,000,000 73.68 8,550,000 73.68 223

34 2 100 * TVB Satellite Platform, Inc. 3,000,000 100 TVB Satellite TV Entertainment Limited # TVB (Shanghai Holdings) Limited TVB (UK) Limited 12,000 100 2 100 1 100 2 100 * TVB (USA) Inc. 10,000 100 TVB Video (UK) Limited TVBO Facilities Limited 1,000 100 2 100 12,000 100 # Zennora Group Limited 1,000 100 TVBO Facilities Limited TVBO Production Limited * # 8.60 9,000,0000.10 4,500,0004,500,000 224