09:51     SHELL ELECTRIC<00081> - Announcement (6)                            

    "Loan Agreement"        the agreement dated 7 January 2005                
    entered into between Allright Investments and Yue                         
    Tian in connection with the Loan                                          
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "PRC Joint Venture"     *                                                 
    (Guangzhou Cheng Jian Tian Yue Real Estate                                
    Development Company Limited*), a sino-foreign                             
    cooperative joint venture owned by Yue Tian and an                        
    independent third party                                                   
                                                                              
    "Purchasers"    collectively, Red Empire, Wise Gain                       
    and Allright Investments                                                  
                                                                              
    "Red Empire"    Red Empire Limited, a company                             
    incorporated in British Virgin Islands                                    
                                                                              
    "Sale Shares"   14,400 shares of HK$1.00 each in the                      
    share capital of Yue Tian to be acquired by Allright                      
    Investments pursuant to the Acquisition Agreement                         
                                                                              
    "Share(s)"      ordinary share(s) of HK$0.50 each in the                  
    Company                                                                   
                                                                              
    "Shareholder(s)"        holder(s) of Shares                               
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited                                                                   
                                                                              
    "Vendor"        Poly Tianyu (Guangzhou) Limited, a company                
    incorporated in Hong Kong                                                 
                                                                              
    "Warrantor"     Mr Yu Pan                                                 
                                                                              
    "Wise Gain"     Wise Gain Investment Limited, a company                   
    incorporated in British Virgin Islands                                    
                                                                              
    "Yue Tian"      Yue Tian Development Limited *, a limited liability       
    company incorporated in Hong Kong on 2 March 1993, the entire issued share
    capital of which is owned as to 75% by the Vendor and 25% by              
    Wise Gain prior to the Acquisition                                        
                                                                              
    "Yue Tian Group"        Yue Tian and the PRC Joint Venture                
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong                                                                      
                                                                              
    "RMB"   Renminbi, the legal currency of the PRC                           
                                                                              
    "%"     per cent                                                          
                                                                              
    For the purpose of this announcement, conversion of                       
    RMB into HK dollars is calculated at the exchange rate                    
    of HK$1.00 to RMB1.06.                                                    
                                                                              
    By Order of the Board                                                     
    Peter Lee Yip Wah                                                         
    Secretary                                                                 
                                                                              
    Hong Kong, 10 January 2005                                                
                                                                              
    As at the date of this announcement, the Board                            
    comprises Mr. Billy K. YUNG, Madam YUNG HO Wun Ching,                     
    Mr. LEUNG Chun Wah and Mr. Plato Chak Sang POON as                        
    executive Directors, Mr. Simon Kwok Choi YUNG as                          
    non-executive Director and Dr. Leo Tung-Hai LEE, Mr.                      
    Shiu-Kit NGAI, Mr. Peter Chung On WONG and Mr. Peter                      
    LAM as independent non-executive Directors.                               
                                                                              
    *  For identification purpose only                                        
       For the Chinese name, please refer to the press announcement today.