09:01     PREMIUM LAND<00164> - Unusual price & volume movements              

    The Stock Exchange has received a message from Premium Land Limited       
    which is reproduced as follows:-                                          
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted the recent increases in price and trading volume of the     
    shares of the Company and wish to state that we are not aware of any      
    reasons for such increases.                                               
                                                                              
    Save for the proposed issue of new shares; underwritten convertible notes 
    and guaranteed convertible notes of the Company as set out in the         
    announcement of the Company dated 7 January 2005, we also confirm that    
    there are no negotiations or agreements relating to intended acquisitions 
    or realisations which are discloseable under rule 13.23, neither is the   
    Board aware of any matter discloseable under the general obligation       
    imposed by rule 13.09, which is or may be of a price-sensitive nature.    
                                                                              
    Made by the order of Premium Land Limited the Board of directors of which 
    individually and jointly accept responsibility for the accuracy of this   
    statement.                                                                
                                                                              
    As at the date of this announcement, the Board comprises two executive    
    Directors namely Mr. Dong Bo, Frederic and Mr. Lau Man Tak and four       
    independent non-executive Directors namely Mr. Kan Kwok Shu, Mr. Shum Ka  
    Hei, Mr. Pang Haiou and Mr. Zuo Guang.                                    
                                                                              
                                                                              
    Dong Bo, Frederic                                                         
    Director                                                                  
                                                                              
    7 January 2005"