09:20     NEW WORLD CHINA<00917> - Announcement (1)                           

                                                                              
    The Stock Exchange of Hong Kong Limited takes no responsibility 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.               
                                                                              
    New World China Land Limited                                              
    (incorporated in the Cayman Islands with limited liability)               
                                                                              
    (Stock Code: 0917)                                                        
                                                                              
    DESPATCH OF CIRCULAR IN RELATION TO                                       
    PROPOSED RIGHTS ISSUE OF RIGHTS SHARES OF                                 
    HK$0.10 EACH AT HK$2.80 PER RIGHTS SHARE,                                 
    PAYABLE IN FULL ON ACCEPTANCE                                             
    (IN THE PROPORTION OF THREE RIGHTS SHARES                                 
    FOR EVERY TWO EXISTING SHARES HELD)                                       
    AND GENERAL MANDATES TO ISSUE AND REPURCHASE SHARES                       
                                                                              
    Despatch of the Circular                                                  
                                                                              
    A circular containing, among other things, details of the proposed        
    Rights Issue, a letter from the Independent Board Committee and a         
    letter from the independent financial advisor to the Independent          
    Board Committee in respect of the proposed Rights Issue, together         
    with a notice convening the EGM is being despatched to Shareholders       
    on 4 March 2005. Shareholders are advised to read the letter from         
    the Independent Board Committee and the letter from the independent       
    financial advisor carefully before voting at the EGM.                     
                                                                              
    Excluded Shareholders                                                     
                                                                              
    The Rights Issue is available to Qualifying Shareholders only. The        
    offer of the Rights Shares will be made to Shareholders whose             
    registered addresses appear on the register of members of the Company     
    at the close of business on the Record Date are (a) in Hong Kong or       
    (b) if in any jurisdictions outside Hong Kong, are in a jurisdiction      
    of which the Directors, based on the legal advices given by the legal     
    counsels of the relevant jurisdictions, do not consider it necessary      
    or expedient to exclude the offer of the Rights Shares. Further           
    announcement in respect of the Excluded Shareholders will be made         
    by the Company on or before the posting of the Rights Issue Documents,    
    which is expected to be on Monday, 21 March 2005.                         
                                                                              
    Reference is made to the joint announcement of the Company and New        
    World Development Company Limited dated 18 February 2005 (the             
    ``Announcement'') in relation to the proposed Rights Issue. Unless        
    otherwise defined herein, terms used herein shall have the same           
    meanings as those defined in the Announcement.                            
                                                                              
    Despatch of circular                                                      
                                                                              
    The Directors are pleased to announce that the circular containing,       
    among other things, details of the proposed Rights Issue, the letter      
    from the independent board committee of the Company (the                  
    ``Independent Board Committee'') and the letter from the independent      
    financial advisor in respect of the proposed Rights Issue, together       
    with a notice convening the EGM is being despatched to Shareholders       
    on 4 March 2005. Shareholders are advised to read the letters from        
    the Independent Board Committee and the Independent Financial             
    Advisor carefully before voting at the EGM.                               
                                                                              
    Excluded Shareholders                                                     
                                                                              
    The Rights Issue is available to Qualifying Shareholders only. To         
    qualify for the Rights Issue, the Shareholder must:                       
                                                                              
    ---     be registered as a member of the Company at the close of business 
    on the Record Date; and                                                   
                                                                              
    ---     have an address appeared on the register of members of the        
    Company at the close of business on the Record Date which is in Hong      
    Kong or if outside Hong Kong, is in a jurisdiction of which the           
    Directors, based on the legal advice given by the legal counsel of        
    the relevant jurisdiction, do not consider it necessary or expedient      
    to exclude the offer of the Rights Shares to such Shareholder.