09:43     SHANGHAI LAND<00067> - Announcement                                 

    Shanghai Land Holdings Limited                                            
    (Receivers Appointed)                                                     
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 67)                                                          
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    Ms. Gong Bei Ying ceased to be an executive director of the               
    Company with effect from 4 February 2005. Trading in the shares           
    of the Company on The Stock Exchange of Hong Kong Limited has             
    been suspended since 9:30 a.m. on 2 June 2003 and will remain             
    suspended until further announcement.                                     
                                                                              
    Shanghai Land Holdings Limited (Receivers Appointed) (the                 
    "Company") announces that at the 2004 Adjourned Annual General            
    Meeting of the Company held on 4 February 2005 (the "2004                 
    Adjourned AGM"), the motion in relation to the re-election of             
    Ms. Gong Bei Ying ("Ms. Gong") as a director of the Company               
    was voted down by the shareholders present at the 2004                    
    Adjourned AGM. Accordingly, Ms. Gong ceased to be an executive            
    director of the Company effective from the conclusion of the              
    2004 Adjourned AGM held on 4 February 2005.                               
                                                                              
    Trading in the shares of the Company on The Stock Exchange of             
    Hong Kong Limited has been suspended since 9:30 a.m. on 2 June            
    2003 and will remain suspended until further announcement.                
                                                                              
    As at the date of this announcement, the board of directors               
    of the Company comprises eight directors. The executive                   
    directors are Mr. Chau Ching Ngai, Mr. Jiang Dong Liang, Mr.              
    Koo Hoi Yan, Donald and Mr. Mao Wei Ping. The non-executive               
    directors are Ms. Fan Cho Man and Mr. Tan Lim Heng. The                   
    independent non-executive directors are Mr. Mok Chiu Kuen and             
    Mr. Ho Yau Hoo, Ronald.                                                   
                                                                              
    For and on behalf of                                                      
    Shanghai Land Holdings Limited                                            
    (Receivers Appointed)                                                     
    Stephen Liu Yiu Keung                                                     
    and Yeo Boon Ann                                                          
    Joint & Several Receivers                                                 
                                                                              
    Hong Kong, 7 February 2005