10:06     <00226><00156><00655> - Joint Announcement & Resumption (1)         

    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.                                                     
                                                                              
    LIPPO LIMITED                                                             
    *                                                                         
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 226)                                                         
                                                                              
    LIPPO CHINA                                                               
    RESOURCES LIMITED                                                         
    *                                                                         
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 156)                                                         
                                                                              
    HONGKONG                                                                  
    CHINESE LIMITED                                                           
    *                                                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 655)                                                         
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    MAJOR TRANSACTION FOR LIPPO LIMITED                                       
                                                                              
    AND                                                                       
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
    FOR LIPPO CHINA RESOURCES LIMITED                                         
    AND HONGKONG CHINESE LIMITED                                              
                                                                              
    The board of directors of each of Lippo, HCL and LCR                      
    announces that on 21st January, 2005, the Purchaser,                      
    a wholly-owned subsidiary of HCL, entered into the                        
    Agreement with the Seller, for acquiring the land                         
    located at 83 Estrada de Cacilhas, Macau together with                    
    the buildings constructed thereon at a consideration                      
    of HK$238,000,000.                                                        
                                                                              
    Since the applicable percentage ratios for the                            
    purchase consideration payable by the Purchaser for                       
    acquiring the Property represent 5% or more but less                      
    than 25% for each of HCL and LCR, and represent 25%                       
    or more but less than 100% for Lippo, the entering                        
    into of the Agreement constitutes a discloseable                          
    transaction for each of HCL and LCR, and a major                          
    transaction for Lippo, under Chapter 14 of the Listing                    
    Rules.                                                                    
                                                                              
    Accordingly, each of LCR, HCL and Lippo will, within                      
    21 days after publication of this announcement, send                      
    a circular to their respective shareholders in                            
    accordance with rules 14.38 and 14.40 of the Listing                      
    Rules. Since the written approval from Lippo Cayman,                      
    being the controlling shareholder of Lippo, which as                      
    at the date of this announcement is interested in                         
    approximately 57.34% of the issued share capital of                       
    Lippo, has been obtained for the entering into of the                     
    Agreement in accordance with rule 14.44 of the Listing                    
    Rules, no extraordinary general meeting will be held                      
    by Lippo for approving the entering into of the                           
    Agreement.                                                                
                                                                              
    Trading in the shares of each of Lippo, HCL and LCR                       
    were suspended from 9:30 a.m. on 24th January, 2005                       
    at the request of Lippo, HCL and LCR pending the                          
    publication of this announcement and applications                         
    have been made to the Stock Exchange for the                              
    resumption of trading of the shares of each of Lippo,                     
    HCL and LCR from 9:30 a.m. on 28th January, 2005.