09:25     <00226>, <00156> & <00655> - Joint Announcement (1)                 

    The Stock Exchange of Hong Kong Limited takes no                          
    responsibilities for the contents of this                                 
    announcement, makes no representation as to its                           
    accuracy or completeness and expressly disclaims any                      
    liability whatsoever for any loss howsoever arising                       
    from or in reliance upon the whole or any part of the                     
    contents of this announcement.                                            
                                                                              
    LIPPO LIMITED                                                             
                                                                              
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 226)                                                         
                                                                              
    LIPPO CHINA RESOURCES LIMITED                                             
                                                                              
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 156)                                                         
                                                                              
    HONGKONG CHINESE LIMITED                                                  
    *                                                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 655)                                                         
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    FURTHER DELAY IN DESPATCH OF CIRCULARS                                    
                                                                              
    Each of Lippo, LCR and HCL has made an application                        
    to the Stock Exchange for a further extension of time                     
    for the despatch of their respective circulars to a                       
    date falling on or before 16th March, 2005.                               
                                                                              
    Reference is made to (i) the joint announcement dated                     
    25th January, 2005 (the "First Announcement") issued                      
    by Lippo Limited ("Lippo") and Lippo China Resources                      
    Limited ("LCR") in relation to continuing connected                       
    transactions; (ii) the joint announcement dated 27th                      
    January, 2005 (the "Second Announcement") issued by                       
    Lippo, LCR and Hongkong Chinese Limited ("HCL") in                        
    relation to a major transaction for Lippo and a                           
    discloseable transaction for each of LCR and HCL; and                     
    (iii) the joint announcement dated 16th February,                         
    2005 issued by Lippo, LCR and HCL in respect of the                       
    delay in despatch of circulars of Lippo, LCR and HCL                      
    in respect of the aforementioned transactions (the                        
    "Third Announcement"). Terms defined in the First                         
    Announcement, the Second Announcement and the Third                       
    Announcement shall have the same respective meanings                      
    when used herein unless the context otherwise                             
    requires.                                                                 
                                                                              
    Pursuant to rule 14A.49 of the Listing Rules, each                        
    of Lippo and LCR is required to despatch a circular                       
    in relation to the transactions in the First                              
    Announcement to their respective shareholders within                      
    21 days after the publication of the First                                
    Announcement, which was on or before 16th February,                       
    2005. In addition, pursuant to rule 14.38 of the                          
    Listing Rules, each of Lippo, LCR and HCL is required                     
    to despatch a circular in relation to the transaction                     
    in the Second Announcement to their respective                            
    shareholders within 21 days after the publication of                      
    the Second Announcement, which was on or before 18th                      
    February, 2005.                                                           
                                                                              
    As disclosed in the Third Announcement, each of Lippo,                    
    LCR and HCL had applied for a waiver to the Stock                         
    Exchange from strict compliance with Rules 14.38 and                      
    14A.49 of the Listing Rules such that the despatch                        
    of the circulars had been postponed to a date falling                     
    on or before 2nd March, 2005.                                             
                                                                              
    During the period from 16th February, 2005 to the date                    
    of this announcement, most of the information