10:07 LIPPO<00226> & LIPPO CHINA RES<00156> - Joint Ann. (4) Lippo Cayman, Lippo, LCR nor any of their respective subsidiaries and associates has any interest in such transaction which is different from that of any other shareholder of Lippo and LCR save for (i) Lippo and LCR's shareholding interests in APG; and (ii) Lippo Cayman and Lippo's shareholding interests in Lippo and LCR respectively. Accordingly, neither of Lippo Cayman nor Lippo need to abstain from such voting process. To the best knowledge and belief of the Directors, having made reasonable enquiries, no other shareholder of Lippo and LCR need to abstain from the voting process as regards the Aggregate Connected Transactions. On 25th January, 2005, such approvals were received by each of Lippo and LCR from Lippo Cayman and Lippo respectively thereby providing Lippo and LCR with the requisite majority shareholders' approvals of the Aggregate Connected Transactions without the unnecessary costs of extraordinary general meetings being incurred. Shareholders should note that the Continuing Transactions for the two financial years ending 31st December, 2006 are subject to only disclosure and reporting requirements under Rule 14A.34 of the Listing Rules but no shareholders' approvals is required or intended to be sought under the Listing Rules. A circular will be sent to each of Lippo and LCR's respective shareholders within 21 days after the publication of this announcement pursuant to Rule 14A.49 of the Listing Rules and it is intended that such circular shall include the advice of independent financial advisers to the respective independent boards of directors and Lippo and LCR's shareholders and the letters of recommendations from the respective independent board committees of each of Lippo and LCR with respect to the Aggregate Connected Transactions. Details of the Aggregate Connected Transactions and all transactions carried out and to be carried out thereunder will be included in the published annual reports of LCR and Lippo for each of the three financial years ending 31st December, 2006 in accordance with Rules 14A.45 and 14A.46 of the Listing Rules. Shareholders should also note that as the Back to Back Arrangements have arisen simply as a result of Completion and continued for a short period (within six months of the Completion Date until 1st June, 2004) with no fee or profit earned or payable by, or to, the Auric Group, details contained in this announcement with respect to such arrangement are provided for information purposes only and do not constitute part of the Aggregate Connected Transactions. INTRODUCTION Reference is made to Lippo and LCR's joint announcement dated 18th June, 2003, 4th November, 2003 and 1st December, 2003 in relation to the acquisitions by the Auric Group of the Malaysian Shares and the Singaporean Shares and Completion. On 1st December, 2003, the respective boards of directors of LCR and Lippo had jointly announced completion of the acquisitions by each of APM and APF, wholly-owned subsidiaries of APG, of the Malaysian Shares and the Singaporean Shares in accordance with the Malaysian Agreement and the Singaporean Agreement respectively.