09:33     NWS HOLDINGS<00659> - Announcement                                  

    The Stock Exchange of Hong Kong Limited takes no responsibility           
    for the contents of this announcement, makes no representation as         
    to its accuracy or completeness and expressly disclaims any               
    liability whatsoever for any loss howsoever arising from or in            
    reliance upon the whole or any part of the contents of this               
    announcement.                                                             
                                                                              
    NWS Holdings Limited                                                      
     (incorporated in Bermuda with limited liability)                         
    (stock code: 0659)                                                        
                                                                              
    DISCLOSURE PURSUANT TO RULE 13.13 OF THE LISTING RULES                    
                                                                              
    This announcement is made by the Company in compliance with the           
    disclosure requirement under Rule 13.13 of the Listing Rules.             
                                                                              
    The Group acquired a further 17.9% interest in ACT on 31 December         
    2004. Subsequent to this acquisition, the equity interest held by         
    the Group in ACT increased from 13.5% to 31.4%. The obligation of         
    the Group to provide shareholder loan and guarantee for ACT was           
    increased simultaneously.                                                 
                                                                              
    As at 21 January 2005, the Group has made advances to ACT in the          
    aggregate amount of HK$1,613.2 million which represent                    
    approximately 8.4% of the total market capitalisation of the              
    Company.                                                                  
                                                                              
    BACKGROUND                                                                
                                                                              
    This announcement is made by NWS Holdings Limited (the ``Company'',       
    together with its subsidiaries, the ``Group'') in compliance with         
    the disclosure requirement under Rule 13.13 of the Rules Governing        
    the Listing of Securities on The Stock Exchange of Hong Kong              
    Limited (the ``Listing Rules'').                                          
                                                                              
    The Group, through the acquisition of 179 shares in Asia Container        
    Terminals Holdings Limited which is the 100%-owned holding company        
    of Asia Container Terminals Limited (``ACT''), acquired a further         
    17.9% interest in ACT on 31 December 2004. ACT is currently the           
    operator of Container Terminal No. 8 West in Kwai Chung. Subsequent       
    to this acquisition, the equity interest held by the Group in ACT         
    increased from 13.5% to 31.4%. The obligation of the Group to             
    provide shareholder loan and guarantee for ACT was increased              
    simultaneously.                                                           
                                                                              
    ADVANCE TO AN ENTITY                                                      
                                                                              
    As at 21 January 2005, the Group has made advances to ACT in the          
    aggregate amount of HK$1,613.2 million (the ``Advances'') for             
    financing its project development costs. The Advances include the         
    sum of HK$264.8 million due from ACT, which is interest free,             
    unsecured and has no fixed repayment term, and the capital                
    commitment and guarantees provided to ACT by the Group up to the          
    amount of HK$1,348.4 million. The Advances represent                      
    approximately 8.4% of the total market capitalisation of the              
    Company.                                                                  
                                                                              
    Pursuant to Rule 13.13 of the Listing Rules, a general disclosure         
    obligation will arise where any of the percentage ratios of the           
    relevant advance to any entity exceeds 8%. Accordingly, the               
    Company is under a general obligation to disclose the details of          
    the Advances and therefore the above disclosure is made in                
    compliance with the said rule.                                            
                                                                              
    The Company will comply with the disclosure requirement according         
    to Rule 13.20 of the Listing Rules for so long as circumstances           
    giving rise to such disclosure obligation continues to exist.             
                                                                              
    THE BOARD OF DIRECTORS                                                    
                                                                              
    As at the date of this announcement: (a) the executive directors          
    of the Company are Dr. Cheng Kar Shun, Henry, Mr. Doo Wai Hoi,            
    William, Mr. Chan Kam Ling, Mr. Tsang Yam Pui, Mr. Wong Kwok Kin,         
    Andrew, Mr. Lam Wai Hon, Patrick and Mr. Cheung Chin Cheung; (b)          
    the non-executive directors of the Company are Mr. Wilfried Ernst         
    Kaffenberger (alternate director to Mr. Wilfried Ernst                    
    Kaffenberger: Mr. Yeung Kun Wah, David), Mr. To Hin Tsun, Gerald          
    and Mr. Dominic Lai; and (c) the independent non-executive                
    directors of the Company are Mr. Kwong Che Keung, Gordon, Mr. Cheng       
    Wai Chee, Christopher and The Honourable Shek Lai Him, Abraham.           
                                                                              
    By Order of the Board                                                     
    Dr. Cheng Kar Shun, Henry                                                 
    Chairman                                                                  
                                                                              
    Hong Kong, 24 January 2005                                                
                                                                              
    * For identification purposes only