Asia PR News

HONG KONG, July 28 /PRNewswire-AsiaNet/ –

The Board of Directors of Sun Innovation Holdings Ltd., a Hong Kong-based
conglomerate with entertainment media content distribution as its core
business, today declared a distribution of contributed surplus of HK$0.10 (US$
0.013) per share on its common stock, payable in cash on August 21, 2006 to
shareholders of record at the close of business on August 14, 2006. The
contributed surplus resulted from excess paid up capital arising from capital
reductions made in May 2003 and in December 2005, respectively.

About Sun Innovation Holdings Ltd.:
"Our mission is to build the most innovative multimedia conglomerate in
Asia, through balanced investments in media-related businesses with superior
growth potential."
Our dynamic forward-thinking business models are fueled with strategic
funding for enhancing long-term growth. Sun Innovation Holdings Ltd. is a
Hong Kong-based conglomerate trading on the Main Board of the Hong Kong Stock
Exchange (stock code: 547).

Certain statements contained in this press release related to Sun
Innovation Holdings Limited’s business are not historical facts. Such
statements may be regarded as forward-looking statements. Forward-looking
statements are made on the basis of management’s views and assumptions
regarding future events and business performance as of the time the statements
were made. Management does not undertake any obligation to update these
statements — Accordingly, risks and uncertainties are inherent as actual
results may differ materially from those expressed or implied.

Contact:
Alicia Swanson - Senior Investor Relations Manager
Tel: +1-808-394-6695
Email: aswanson@suninnovation.com
Web site: www.suninnovation.com

SOURCE Sun Innovation Holdings Ltd.
-0- 07/28/2006
/CONTACT: Alicia Swanson, Senior Investor Relations Manager of Sun
Innovation Holdings Ltd., +1-808-394-6695, aswanson@suninnovation.com/
/Web site: http://www.suninnovation.com/