09:26     <00226>, <00156> & <00655> - Joint Announcement (2)                 

    for the purpose of the letter from the independent                        
    financial adviser ("IFA Letter") to be appended to                        
    the respective circulars of Lippo and LCR have been                       
    collated. However, more time is required by each of                       
    Lippo and LCR to compile the outstanding information                      
    to enable the independent financial adviser to                            
    finalise the IFA Letter for inclusion in their                            
    respective circulars. Accordingly, each of Lippo and                      
    LCR has applied to the Stock Exchange for a waiver                        
    from strict compliance with rule 14A.49 of the Listing                    
    Rules so that the despatch of their respective                            
    circulars in relation to the First Announcement will                      
    be postponed to a date falling on or before 16th March,                   
    2005.                                                                     
                                                                              
    Similarly, more time is required by Lippo's auditor                       
    to gather and compile information for the purpose of                      
    the letter confirming the pro forma information and                       
    working capital statement of Lippo. Accordingly, each                     
    of Lippo, LCR and HCL has applied to the Stock Exchange                   
    for a waiver from strict compliance with rule 14.38                       
    of the Listing Rules so that the despatch of their                        
    respective circulars in relation to the Second                            
    Announcement will be postponed to a date falling on                       
    or before 16th March, 2005.                                               
                                                                              
    By Order of the Board                                                     
    LIPPO LIMITED                                                             
    Davy Lee                                                                  
    Secretary                                                                 
                                                                              
    By Order of the Board                                                     
    LIPPO CHINA RESOURCES LIMITED                                             
    Millie Luk                                                                
    Secretary                                                                 
                                                                              
    By Order of the Board                                                     
    HONGKONG CHINESE LIMITED                                                  
    Andrew Hau                                                                
    Secretary                                                                 
                                                                              
    Hong Kong, 2nd March, 2005                                                
                                                                              
    The board composition of each of Lippo, LCR and HCL                       
    as at the date of this announcement is as follows:                        
                                                                              
    LIPPO                                                                     
    Non-executive Director:                                                   
    Mr. Leon Nim Leung Chan                                                   
                                                                              
    Executive Directors:                                                      
    Mr. Stephen Riady                                                         
    Mr. John Luen Wai Lee                                                     
    Mr. Jark Pui Lee                                                          
    Mr. David T. Yeh                                                          
                                                                              
    Independent Non-executive Directors:                                      
    Mr. Edwin Neo                                                             
    Mr. Victor Ha Kuk Yung                                                    
    Mr. King Fai Tsui                                                         
                                                                              
    LCR                                                                       
    Non-executive Directors:                                                  
    Dr. Mochtar Riady                                                         
    Mr. Ning Gaoning                                                          
    Mr. Leon Nim Leung Chan                                                   
                                                                              
    Executive Directors:                                                      
    Mr. James Riady                                                           
    Mr. Stephen Riady                                                         
    Mr. John Luen Wai Lee                                                     
                                                                              
    Independent Non-executive Directors:                                      
    Mr. Edwin Neo                                                             
    Mr. Victor Ha Kuk Yung