09:27     MIRAMAR HOTEL<00071> - Announcement (4)                             

                                   course of the Tenant's                     
                                   business conducted at the                  
                                   Premises excluding 10%                     
                                   service charge                             
    `Group'                        the Company and its                        
                                   subsidiaries                               
    `Landlord'                     IFC Development Limited,                   
                                   indirectly owned as to                     
                                   approximately 32.5% by                     
                                   Henderson Land Development                 
                                   Company Limited, thereby an                
                                   associate of Henderson Land                
                                   Development Company Limited                
                                   and a connected person of the              
                                   Group                                      
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on The               
                                   Stock Exchange of Hong Kong                
                                   Limited                                    
    `Premises'                     Shop Nos. 3101-3107 on Level               
                                   Three of ifc Mall (Retail                  
                                   Accommodation on Site R of                 
                                   Inland Lot No.8898), of                    
                                   approximately 16,138 square                
                                   feet, being the premises                   
                                   leased to the Landlord from                
                                   MTR Corporation Limited under              
                                   a head lease in 2003 and                   
                                   sub-leased to the Tenant                   
                                   under the Confirmation of                  
                                   Sub-Lease                                  
    `Tenant'                       Profit Advantage Limited, a                
                                   wholly-owned subsidiary of                 
                                   the                                        
                                   Company                                    
                                                                              
                                                                              
                                                                              
                                   By Order of the Board Miramar              
                                   Hotel and Investment Company,              
                                   Limited                                    
                                   Chu Kwok Sun                               
                                   Corporate Secretary                        
                                                                              
                                                                              
                                                                              
    Hong Kong, 8 March 2005