09:21     <00226>, <00156> & <00655> - Joint Announcement (4)                 

    INFORMATION ON LIPPO, LCR AND HCL AND OTHERS                              
                                                                              
    The principal business activity of each of Lippo and                      
    LCR is investment holding. LCR is one of Lippo's                          
    principal subsidiaries. The principal activities of                       
    the subsidiaries of Lippo and LCR include 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.                                                                 
                                                                              
    The units comprised in the Property are owned by                          
    individuals with the exception of one unit which is                       
    owned by a company which, to the best of HCL's and                        
    HKCL's knowledge, information and belief, is                              
    principally engaged in property investment business.                      
                                                                              
    GENERAL                                                                   
                                                                              
    The Vendors were introduced to HKCL through an                            
    independent property agent in Singapore. To the best                      
    of the Directors' knowledge, information and belief                       
    and having made all reasonable enquiries, the Vendors                     
    and its ultimate beneficial owner(s) (as applicable)                      
    are third parties independent of each of Lippo, LCR                       
    and HCL and each of their connected persons (as                           
    defined in the Listing Rules).                                            
                                                                              
    A circular containing details of the Acquisition will                     
    be despatched to shareholders of each of Lippo, LCR                       
    and HCL within 21 days after the publication of this                      
    announcement.                                                             
                                                                              
    DEFINITIONS                                                               
                                                                              
    In this announcement, the following terms and                             
    expressions (unless the context otherwise requires)                       
    shall have the following meanings:                                        
                                                                              
    "Acquisition"   the purchase by HKCL, and the sale by                     
    the Vendors, of the Property pursuant to the Terms                        
    of Sale                                                                   
                                                                              
    "Completion"    the completion of the Acquisition in                      
    accordance with the Terms of Sale                                         
                                                                              
    "Completion Date"       the date of Completion,                           
    anticipated to take place on or around 18th May, 2005                     
                                                                              
    "Director(s)"   the director(s) of each of Lippo, LCR                     
    and HCL (as applicable)                                                   
                                                                              
    "HCL"   Hongkong Chinese Limited (*), a                                   
    company incorporated in Bermuda with limited                              
    liability, the shares of which are listed on the Stock                    
    Exchange and whose shares are owned as to                                 
    approximately 72.26% by LCR                                               
                                                                              
    "HKCL"  HKCL Investments Pte. Ltd., a company                             
    incorporated in Singapore with limited liability and                      
    an indirect wholly-owned subsidiary of HCL