09:57     SHIMAO CHINA<00649> - Announcement & Resumption (14)                

    (Suifenhe Shimao Development & Construction Company                       
    Limited), a wholly foreign owned enterprise                               
    established in the PRC on 13 April 2004                                   
                                                                              
    "Suifenhe Shimao Development Project"   the                               
    property development project being undertaken by                          
    Suifenhe Shimao                                                           
                                                                              
    "Value Ahead"   Value Ahead Investments Limited, a                        
    company incorporated in BVI with limited liability                        
    and wholly owned by the Vendor                                            
                                                                              
    "Value Ahead Group"     Value Ahead and Suifenhe Shimao,                  
    together with their respective subsidiaries (if any)                      
                                                                              
    "Vendor"        Dynamic Keen Developments Limited, a company              
    incorporated in BVI with limited liability and wholly                     
    owned by Mr. Hui                                                          
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong                                                                      
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC and for                  
    the purpose of this announcement, RMB is translated                       
    into Hong Kong dollars at fixed rate of RMB1.06 =                         
    HK$1.00                                                                   
                                                                              
    "US$"   United States Dollar, the lawful currency of the                  
    United States of America and for the purpose of this                      
    announcement, US$ is translated into Hong Kong                            
    dollars at fixed rate of US$1.00 = HK$7.80                                
                                                                              
    "sq.m." square metres                                                     
                                                                              
    "%"     per cent.                                                         
                                                                              
    By Order of the Board                                                     
    Shimao China Holdings Limited                                             
    Hui Wing Mau                                                              
    Chairman                                                                  
                                                                              
    As at the date of this announcement, the Board                            
    comprises:                                                                
                                                                              
    Directors:      Independent Non-executive Directors:                      
    Hui Wing Mau (Chairman and Non-executive Director)                        
            Lee Chack Fan                                                     
    Chung Shui Ming, Timpson        Liu Hing Hung                             
      (Chief Executive Officer and Executive Director)                        
            Zhu Wenhui                                                        
    Hui Mei Mei, Carol                                                        
      (Deputy Chairman and Executive Director)                                
    Hui Sai Tan, Jason (Executive Director)                                   
    Chan Loo Shya (Executive Director)                                        
    Tung Chi Shing, Joseph (Executive Director)                               
                                                                              
    Hong Kong, 23 February 2005