09:16     ING BEIJING<01062> - Announcement (3)                               

    2.        Based on 647,114,000 Newco Shares in issue upon completion of   
    the Scheme and the Subscription.                                          
                                                                              
    GENERAL                                                                   
                                                                              
    As at the date of this announcement, the Board comprises four executive   
    directors, namely, Messrs. Liu Xiao Guang, Cheng Bing Ren, Lawrence H.    
    Wood and Yu Sek Kee, Stephen, three non-executive directors, namely, Dr.  
    Poon Kai Leung, James, Mr. Tong Ng Siu Yee, and Mr. Liu Xue Min, and      
    three independent non-executive directors, namely, Mr. To Chun Kei, Dr.   
    Kwong Chun Wai, and Mr. Fung Tze Wa.                                      
                                                                              
    Shareholders should note that the Shares are expected to cease trading    
    and withdraw from listing after 4:00 p.m. on Tuesday, 1 March 2005 and    
    dealings in the Newco Shares are expected to commence on Wednesday, 2     
    March 2005.                                                               
                                                                              
    Shareholders should also note that the Scheme is subject to a number of   
    conditions as described in the Scheme Document and may or may not         
    proceed. Shareholders are therefore advised to read the Scheme Document   
    carefully before taking any action in respect of the Scheme.              
                                                                              
    By order of the Board                                                     
    ING Beijing Investment Company Limited                                    
    (*)                                                                       
    Lawrence H. Wood                                                          
    Director                                                                  
                                                                              
    Hong Kong, 13 January 2005                                                
                                                                              
    * For the Chinese name, please refer to the press announcement today.