09:41 HANISON<00896> - Announcement (3) amount to approximately HK$46,393,000, which represents 18.4% of the Company's market capitalisation of HK$251,758,088 as at 4 March 2005. As at 4 March 2005, there were 354,588,856 shares of the Company in issue. Based on the average closing price of the Company's shares of HK$0.71 as stated in the Stock Exchange's daily quotation sheets for the five business days from 25 February to 3 March 2005, the total market capitalisation of the Company was HK$251,758,088 as at 4 March 2005. Accordingly, the Transactions constitute a discloseable transaction for the Company under Rule 14.06(2) of the Listing Rules. Apart from the foregoing, there is no other commitment by HCL under the Joint Venture. INFORMATION ON THE COMPANY The principal business activity of the Company is investment holding. Its subsidiaries are principally engaged in building construction, interior and renovation works, supply and installation of building materials, trading of health products and property investment and development. A circular containing details of the Transactions will be despatched to shareholders of the Company as soon as practicable after the publication of this announcement. DEFINITIONS In this announcement, the following terms and expressions (unless the context otherwise requires) shall have the following meanings: "associate" has the meaning ascribed thereto in the Listing Rules "Company" Hanison Construction Holdings Limited, a company incorporated in the Cayman Islands with limited liability, the shares of which are listed on the Stock Exchange "connected persons" has the meaning ascribed thereto in the Listing Rules "Director(s)" the director(s) of the Company "Group" the Company and its subsidiaries "HK$" Hong Kong dollars, the lawful currency of Hong Kong "HCL" Hanison Contractors Limited, a company incorporated in Hong Kong with limited liability and a wholly-owned subsidiary of the Company "Hip Hing" Hip Hing Construction Company Limited "Hong Kong" the Hong Kong Special Administrative Region of the People's Republic of China "Joint Venture" Hip Hing-Hanison Joint Venture, the fully integrated type and body unincorporated joint venture pursuant to the joint venture agreement entered into between HCL and Hip Hing on 6 September 2004 for the purpose of submitting the Tender, which was subsequently awarded to it on 24 December 2004, and carrying out of the Works "Listing Rules" the Rules Governing the Listing of Securities on the Stock Exchange "Stock Exchange" The Stock Exchange of Hong Kong Limited "Tender" the offer made by the Joint Venture, as main contractor, in writing for the execution and carrying out of the Works "Transactions" the advance of HK$20,000,000 and the provision of guarantees of HK$26,393,000 by HCL in relation to the Joint Venture "Works" the construction to be carried out by the Joint Venture under the Joint Venture Superstructure Main Contract for Tung Chung Station Development, Package 2, Highrise Block 7 & 8 as specified under the letter of award issued by or on behalf of the employer, Tung Chung Station Development Co., Ltd.