09:16     G-PROP (HOLD)<00286> - Announcement (3)                             

    FUND RAISING DURING THE PAST 12 MONTHS                                    
                                                                              
    The Company had not conducted any fund raising exercise                   
    during the past twelve months.                                            
                                                                              
    SHAREHOLDING STRUCTURE                                                    
                                                                              
    Immediately before      Immediately after                                 
    completion of   completion of                                             
    the Placingthe Placing                                                    
    Shares  %       Shares  %                                                 
                                                                              
    Great Empire International Ltd. (Note 1)        37,162,165                
            37,162,165                                                        
    Paul Y. Holdings Company Limited (Note 1)       113,818,911               
            113,818,911                                                       
    Luckpoint Investment Limited (Note 1)   76,877,685                        
            76,877,685                                                        
    Million Point Limited (Note 1)  170,000,000     170,000,000               
    Sub-total       397,858,761     57.55   397,858,761     50.10             
    Public Shareholders:                                                      
    Hutchison International Limited (Note 2)        62,899,924                
            9.10    62,899,924      7.92                                      
    Koga Limited (Note 3)   37,987,988      5.50    37,987,988                
            4.79                                                              
    Placees -       -       102,800,000     12.95                             
    Others  192,511,127     27.85   192,511,127     24.24                     
    Total   691,257,800     100.00  794,057,800     100.00                    
                                                                              
    Notes:                                                                    
                                                                              
    1. Wholly owned subsidiaries of Chinese Estates Holdings                  
    Limited                                                                   
                                                                              
    2. Wholly owned subsidiary of Hutchison Whampoa Limited                   
                                                                              
    3. Wholly owned subsidiary of Cheung Kong Infrastructure                  
    Holdings Limited                                                          
                                                                              
    DEFINITIONS                                                               
                                                                              
    In the announcement, the following expressions have the                   
    meanings set out below unless the context otherwise                       
    requires.                                                                 
                                                                              
    "associate(s)" has the meaning ascribed in the Listing                    
    Rules                                                                     
                                                                              
    "Board" the board of Directors                                            
                                                                              
    "Business Day" any day (excluding a Saturday) on which banks              
    generally open for business in Hong Kong                                  
                                                                              
    "Closing Date" not later than the second Business Day after               
    the fulfillment of the condition of the Placing (or such                  
    other date as may be agreed between the Company and the                   
    Placing Agent)                                                            
                                                                              
    "Company" G-Prop (Holdings) Limited                                       
                                                                              
    "Director(s)" the director(s) of the Company                              
                                                                              
    "Group" the Company and its subsidiaries                                  
                                                                              
    "Listing Rules" the Rules Governing the Listing of                        
    Securities on the Stock Exchange                                          
                                                                              
    "Placees" any individual(s), institutional or other                       
    professional investor(s) or any of their respective                       
    subsidiaries or associates procured by the Placing Agent                  
    to subscribe for any of the Placing Shares pursuant to the                
    Placing Agreement                                                         
                                                                              
    "Placing" placing of the Placing Shares at the Placing Price              
    pursuant to the Placing Agreement                                         
                                                                              
    "Placing Agent" Get Nice Investment Limited, a deemed                     
    licensed corporation within the meaning of the SFO                        
                                                                              
    "Placing Agreement" a conditional placing agreement                       
    entered into between the Company and the Placing Agent in                 
    relation to the Placing on 1 February 2005                                
                                                                              
    "Placing Price" HK$0.255 per Placing Share