Kong Limited, Hong Kong Securities Clearing Company Limited and the Securities and Futures Commission of Hong Kong
take no responsibility for the contents of this form, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this form.
Unless the context otherwise requires, terms used herein shall bear the same meanings as defined in the composite offer and response document dated 22
January 2008 (the “Composite Document”) issued jointly by Toll (BVI) Limited and BALtrans Holdings Limited.
FORM OF ACCEPTANCE AND CANCELLATION FOR USE IF YOU WANT TO ACCEPT THE OPTION OFFER.

BALtrans Holdings Limited
(incorporated in Bermuda with limited liability)
(Stock code: 562)
FORM OF ACCEPTANCE AND CANCELLATION OF OPTIONS

THIS FORM OF ACCEPTANCE AND CANCELLATION IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any
doubt as to any aspect of this form of acceptance and cancellation or as to the action to be taken, you should consult your licensed securities dealer or
registered institution in securities, a bank manager, solicitor, professional accountant or other professional adviser.
This form of acceptance and cancellation should be read in conjunction with the Composite Document. The provisions of Appendix I to the Composite
Document are incorporated into and form part of this form of acceptance and cancellation.
To accept the Option Offer made by Standard Chartered Bank on behalf of the Offeror, you should complete and sign this form of acceptance and
cancellation and forward this form, together with the relevant certificate(s) of the Option stating the number of Option Shares in respect of the Option which
you intend to accept the Option Offer, by post or by hand to the company secretary of the Company at Rooms 711-716, 7th Floor, Tower B, New Mandarin
Plaza, 14 Science Museum Road, Tsim Sha Tsui East, Kowloon, Hong Kong, marked “BHL Option Offer” on the envelope, as soon as practicable and in
any event so as to reach the company secretary of the Company at the aforesaid address no later than 4:00 p.m. on Tuesday, 12 February 2008 (or such later
time and/or date as the Offeror may announce with the permission of the Executive). No acknowledgement of receipt of any form of acceptance and
cancellation and/or the relevant certificate(s) of the Option will be given.
To: The Company, Standard Chartered Bank and the Offeror
I (name) of (address)

(1)
hereby accept the Option Offer made by Standard Chartered Bank on behalf of the Offeror and agree, for the consideration of HK$7.60 in cash for each
Option Share (if the Basic Offer Price becomes payable) OR HK$7.75 in cash for each Option Share (if the Enhanced Offer Price becomes payable), less in
each case the exercise price per Option Share in respect of the relevant Option, to the cancellation of the Option(s) granted to me to subscribe for Option
Share(s), the details of which are set out below.
No. of Option Share(s)
(2)
Exercise price per Option Share (HK$)
Certificate(s) (if any) relating to such Option(s) is/are enclosed herewith for the Company’s cancellation
(3)
.
Dated this day of , 2008.
Signature of the
abovementioned Optionholder
Notes:
1. Please insert full name and address in BLOCK CAPITALS.
2. Please insert the number of Option Share(s) in respect of which the Option(s) to subscribe is/are surrendered for cancellation.
3. If the number of Option Share(s) surrendered for cancellation is less than the total number of Option Shares under the Option(s) held by the Optionholder, the Company will
provide a confirmation letter in relation to the balance of the Option(s) to such Optionholder.

Form of acceptance and cancellation of Options
To: The Company, Standard Chartered Bank and the Offeror
1. My execution of this form of acceptance and cancellation shall constitute:
(a) my acceptance of the Option Offer made by Standard Chartered Bank on behalf of the Offeror, as contained in the Composite Document, for the
consideration and on and subject to the terms and conditions therein and herein mentioned, in respect of the number of Option Share(s) specified in
this form of acceptance and cancellation or, if no such number is specified or a number in excess of my registered holding of Option(s) is specified,
I shall be deemed to have accepted the Option Offer in respect of my entire holding of Option(s);
(b) my undertaking to execute such further documents and to do such acts and things by way of further assurance as may be necessary or desirable to
cancel my Option(s) tendered for cancellation under the Option Offer;
(c) my irrevocable instruction and authority to the Offeror and/or Standard Chartered Bank or their respective agent(s) to send a cheque crossed “Not
negotiable – account payee only” drawn in my favour for the cash consideration to which I shall have become entitled under the terms of the Option
Offer by ordinary post at my own risk to the person and the address stated below or, if no name and address is stated below to me at the registered
address shown in the register of Optionholders:
(Insert name and address of the person to whom the cheque is to be sent if different from the registered Optionholder.)
Name: (in block capitals)
Address: (in block capitals)
(d) my irrevocable instruction and authority to the Offeror, Standard Chartered Bank or such person or persons as they may direct to complete and
execute any document on my behalf and to do any other act that may be necessary or expedient for the purposes of cancelling the Option(s)
tendered for cancellation under the Option Offer; and
(e) my agreement to ratify each and every act or thing which may be done or effected by the Offeror, Standard Chartered Bank or their respective
agents or such person or persons as it/they may direct on the exercise of any of the authorities contained herein.
2. I understand that my acceptance of the Option Offer will constitute a warranty and undertaking by me to the Offeror and Standard Chartered Bank that
the Option(s) specified in this form of acceptance and cancellation is/are free from all third party rights, liens, claims, charges, equities and encumbrances
whatsoever and renounced together with all rights accruing or attaching thereto on or after the date of the Joint Announcement or subsequently
becoming attached to them and that I surrender to the Company all of my existing rights, if any, in respect of the Option(s), following which such
Option(s) will be cancelled and extinguished.
3. I understand that if my registered address is located in a jurisdiction outside Hong Kong, acceptance of the Option Offer by me will constitute a
warranty by me to the Offeror and Standard Chartered Bank that I have fully observed the laws of all relevant jurisdictions, obtained all requisite
governmental, exchange control or other consents, complied with all necessary formalities or legal requirements and paid any such cancellation or other
taxes by whomsoever payable, that I have not taken or omitted to take any action which will or may result in the Company. the Offeror, Toll or Standard
Chartered Bank or any other person acting in breach of the legal or regulatory requirements of any jurisdiction in connection with the Option Offer or
my acceptance thereof, and am permitted under all applicable laws to receive and accept the Option Offer, and that such acceptance is valid and binding
in accordance with all applicable laws.
4. In the event that my acceptance is not valid, or is treated as invalid, in accordance with the terms of the Option Offer, all instructions, authorisations
and undertakings contained in paragraph 1 above shall cease and in which event, I authorise and request you or any one of you to return my
certificate(s) for the Option(s), together with this form of acceptance and cancellation duly cancelled, by ordinary post at my own risk to the person and
address stated in paragraph 1(c) above or if no name and address is stated, to me at the registered address shown in the register of Optionholders.
5. I enclose the relevant certificate(s) for the Option(s) for the whole or part of my holding of outstanding Option(s) which is/are to be held by you on the
terms and conditions of the Option Offer. I understand that no acknowledgement of receipt of any form(s) of acceptance and cancellation and relevant
certificate(s) for the Option(s) will be given.
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