10:08     LIPPO<00226> & LIPPO CHINA RES<00156> - Joint Ann. (6)              

    The Auric Group has confirmed that such transactions                      
    do not constitute "interested person transactions"                        
    as defined under the Listing Manual of the Singapore                      
    Exchange Securities Trading Limited. Prior to                             
    Completion, the Chunex Arrangements, the Trading                          
    Arrangements and the Continuing Transactions did not                      
    constitute connected transactions for Lippo or LCR                        
    under the Previous Rules in Hong Kong.                                    
                                                                              
    CONNECTED TRANSACTIONS ONLY BETWEEN THE COMPLETION                        
    DATE AND 30TH MARCH, 2004                                                 
    As a result of Completion, many of the trading                            
    arrangements which took place between the Auric Group                     
    and the CYT Group prior to Completion instead took                        
    place within the Auric Group, between its                                 
    subsidiaries which were already party to such                             
    arrangements as at the Completion Date and the newly                      
    acquired non-wholly owned entities.                                       
                                                                              
    Particulars of the Chunex Arrangements:                                   
    After Completion, Chunex was party to a number of                         
    trading arrangements with APM(S). The Chunex                              
    Arrangements were entered into on normal commercial                       
    terms from time to time as follows (including terms                       
    as regards the payment method and credit periods for                      
    the relevant products) and such terms were on                             
    substantially similar terms to those detailed in the                      
    paragraph of this announcement below headed                               
    "Particulars of the Ongoing Arrangements":                                
                                                                              
    Parties                                                                   
    Nos.    Buyer   Seller  Description of Transactions                       
            Products                                                          
                                                                              
    1.      Chunex  APM(S)  Chunex buys from APM(S) from time                 
    to time to      General foodstuff including                               
                    sell, hence helping to enlarge the distribution           
    of      jam                                                               
                    APM(S) products and strengthen Chunex's                   
    offerings                                                                 
                    to customers with wider range                             
                                                                              
    2.      APM(S)  Chunex  Chunex may sell to APM(S) on                      
    commercial ground       General foodstuff                                 
                    as and when need arises                                   
                                                                              
    Caps of the Chunex Arrangements:                                          
    The transactions entered into under the Chunex                            
    Arrangements between the Completion Date and 30th                         
    March, 2004, amounted to approximately S$6,000                            
    (equivalent to approximately HK$28,000) and for the                       
    period from 1st January, 2004 to 30th March, 2004 as                      
    included in the financial year ended 31st December,                       
    2004 amounted to approximately S$3,600 (equivalent                        
    to approximately HK$17,000). The percentage ratios                        
    (as defined under the Listing Rules) for each of the                      
    three financial years ending 31st December, 2006 as                       
    regards the Chunex Arrangements are as follows:                           
                                                                              
    For the year ended      For the year ending     For the year              
    ending                                                                    
    Percentage ratios       31st December, 2004     31st                      
    December, 2005  31st December, 2006                                       
    Lippo   LCR     Lippo   LCR     Lippo   LCR                               
                                                                              
    Assets ratio    0.0002% 0.0002% N/A     N/A     N/A                       
            N/A                                                               
    Revenue ratio   0.0009% 0.0009% N/A     N/A     N/A                       
            N/A                                                               
    Consideration ratio     0.0021% 0.0010% N/A     N/A                       
            N/A     N/A                                                       
                                                                              
    Listing Rules implications of the Chunex