10:09     <00226><00156><00655> - Joint Announcement & Resumption (4)         

    acquisition of the Property does not have any                             
    significant impact on the liquidity position of Lippo                     
    and its subsidiaries as a whole.                                          
                                                                              
    INFORMATION ON HCL, LCR, LIPPO AND THE SELLER                             
    The principal activity of each of Lippo and LCR is                        
    investment holding. LCR is Lippo's principal                              
    subsidiary. The principal activities of the                               
    subsidiaries of LCR are investment holding, property                      
    investment and development, food businesses,                              
    property management, fund management, underwriting,                       
    insurance, corporate finance, securities broking,                         
    securities investment, treasury investment, money                         
    lending, commercial banking and other financial                           
    services.                                                                 
                                                                              
    The principal activity of HCL is investment holding.                      
    Its subsidiaries are principally engaged in                               
    investment holding, property investment and                               
    development, fund management, underwriting,                               
    insurance, corporate finance, securities broking,                         
    securities investment, treasury investment, money                         
    lending, commercial banking and other financial                           
    services.                                                                 
                                                                              
    So far as the respective boards of directors of HCL,                      
    LCR and Lippo are aware after having made all                             
    reasonable enquiries, the principal activity of the                       
    Seller is property investment.                                            
                                                                              
    GENERAL                                                                   
    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. 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.                                               
                                                                              
    By Order of the Board                                                     
    LIPPO LIMITED                                                             
    Davy Lee                                                                  
    Secretary                                                                 
                                                                              
    By Order of the Board                                                     
    LIPPO CHINA RESOURCES LIMITED                                             
    Millie Luk                                                                
    Secretary                                                                 
                                                                              
    By Order of the Board                                                     
    HONGKONG CHINESE LIMITED                                                  
    Andrew Hau                                                                
    Secretary                                                                 
                                                                              
    Hong Kong, 27th January, 2005                                             
                                                                              
    *  For identification purpose only                                        
                                                                              
    As at the date of this announcement, the board                            
    composition of each of Lippo, LCR and HCL is as                           
    follows:                                                                  
                                                                              
    LIPPO                                                                     
    Non-executive Director:                                                   
    Mr. Leon Nim Leung Chan                                                   
                                                                              
    Executive Directors:                                                      
    Mr. Stephen Riady                                                         
    Mr. John Luen Wai Lee                                                     
    Mr. Jark Pui Lee                                                          
    Mr. David T. Yeh