09:24     <00017> & <00917> - Joint Ann & NEW WORLD CHINA Resumed (9)         

    NWD and its associates as defined in the Listing Rules will abstain       
    from voting on the resolution to approve the Rights Issue at the EGM.     
                                                                              
    The Rights Issue Documents setting out details of the Rights Issue        
    will be despatched to the Qualifying Shareholders as soon as              
    practicable, subject to the conditions being satisfied.                   
                                                                              
    Standard Chartered Bank (Hong Kong) Limited has been appointed to         
    advise NWD in connection with the underwriting arrangements under         
    the Underwriting Agreement.                                               
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, the following expressions have the meanings         
    set out below unless the context otherwise requires:                      
                                                                              
    ``associate''   has the meaning defined in Chapter 1 of the Listing       
    Rules                                                                     
                                                                              
    ``Board''   the board of Directors                                        
                                                                              
    ``Business Day''   a day (other than a Saturday or a Sunday) on which     
    commercial banks are open for business in Hong Kong                       
                                                                              
    ``Companies Law''   the Companies Law, Cap 22 (Law 3 of the 1961,         
    as consolidated and revised) of the Cayman Islands                        
                                                                              
    ``Companies Ordinance''   the Companies Ordinance, Chapter 32 of          
    the Laws of Hong Kong                                                     
                                                                              
    ``Company''   New World China Land Limited, a company incorporated        
    in the Cayman Islands with limited liability, the shares of which         
    are listed on the Stock Exchange                                          
                                                                              
    ``Director(s)''   the director(s) of the Company                          
                                                                              
    ``EGM''   the extraordinary general meeting of the Company to be          
    convened for the purposes of considering, among other things, the         
    Rights Issue                                                              
                                                                              
    ``Group''   the Company and its subsidiaries from time to time            
                                                                              
    ``Hong Kong''   the Hong Kong Special Administrative Region of the        
    PRC                                                                       
                                                                              
    ``HK$''   Hong Kong dollar(s), the lawful currency of Hong Kong           
                                                                              
    ``Independent Shareholders''   Shareholders other than NWD, its           
    associates and parties acting in concert with them                        
                                                                              
    ``Latest Acceptance Date''   being 4:00 p.m. on Friday, 8 April 2005,     
    the latest date upon which provisional allotments of Rights Shares        
    in nil-paid form may be validly accepted                                  
                                                                              
    ``Latest Practicable Date''   Thursday, 17 February 2005, being the       
    latest practicable date prior to the release of this announcement         
    for inclusion of certain information in this announcement                 
                                                                              
    ``Listing Rules''   Rules Governing the Listing of Securities on the      
    Stock Exchange                                                            
                                                                              
    ``NWD''   New World Development Company Limited, a company                
    incorporated in Hong Kong with limited liability, the shares of which     
    are listed on the Stock Exchange and which is the controlling             
    shareholder (as defined under the Listing Rules) of the Company           
                                                                              
    ``Overseas Shareholder(s)''   the Shareholder(s) whose name(s)            
    appear(s) on the register of members of the Company on the Record         
    Date and whose registered address(es) on that date is/are outside         
    Hong Kong                                                                 
                                                                              
    ``PRC''   the People's Republic of China                                  
                                                                              
    ``Prospectus''   the prospectus to be issued by the Company in            
    relation to the Rights Issue                                              
                                                                              
    ``Qualifying Shareholder(s)''   the Shareholder(s), other than the        
    Overseas Shareholder(s), whose name(s) appear(s) on the register of       
    members of the Company on the Record Date                                 
                                                                              
    ``Record Date''   Monday, 21 March 2005                                   
                                                                              
    ``Rights Issue''   the proposed issue of Rights Shares on the basis       
    of three Rights Shares for every two existing Shares to Qualifying        
    Shareholders by way of rights or to holders of nil-paid Rights Shares     
    at the Subscription Price, pursuant to the terms and conditions of        
    the rights issue