09:38     CITIC PACIFIC<00267> - Announcement (5)                             

    Limited, a company incorporated in Hong Kong whose                        
    shares are listed on the Stock Exchange;                                  
                                                                              
    "Director(s)"   director(s) of the Company;                               
                                                                              
    "HK$"   Hong Kong Dollar, the lawful currency of Hong                     
    Kong;                                                                     
                                                                              
    "JV Company"    Wal-Mart East China Stores Co., Ltd.                      
    *, currently a sino-foreign equity                                        
    joint venture established in the PRC;                                     
                                                                              
    "Listing Rules" The Rules Governing the Listing of                        
    Securities on the Stock Exchange;                                         
                                                                              
    "Percentage Ratios"     has the meaning set out in Rule                   
    14A.10(10) of the Listing Rules;                                          
                                                                              
    "PRC"   People's Republic of China;                                       
                                                                              
    "Purchaser"     Sky Rich Investments Ltd.*,                               
    a company incorporated in the British Virgin Islands                      
    with limited liability;                                                   
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC;                         
                                                                              
    "Sale Shares"   a 35% equity interest in the registered                   
    capital of the JV Company;                                                
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited;                                                                  
                                                                              
    "US$"   United States Dollar, the lawful currency of the                  
    United States;                                                            
                                                                              
    "Vendor"        CITIC Trust & Investment Co., Ltd. *, a corporation       
    established under the                                                     
    laws of the PRC; and                                                      
                                                                              
    "Wal-Mart China"        Wal-Mart (China) Investment Co.,                  
    Ltd. *.                                                                   
                                                                              
    (For reference only, the exchange rates used in this                      
    Announcement are RMB1.0= HK$0.94 and US$1.0=HK$7.8)                       
                                                                              
    By Order of the Board                                                     
    CITIC Pacific Limited                                                     
    Alice Tso Mun Wai                                                         
    Company Secretary                                                         
                                                                              
    Hong Kong, 14 March 2005                                                  
                                                                              
    As at the date of this announcement, the executive                        
    directors of the Company are Messrs Larry Yung Chi                        
    Kin (Chairman), Henry Fan Hung Ling, Vernon Francis                       
    Moore, Peter Lee Chung Hing, Norman Yuen Kee Tong,                        
    Yao Jinrong, Chang Zhenming, Li Shilin, Carl Yung Ming                    
    Jie and Liu Jifu; the non-executive directors of the                      
    Company are Messrs Willie Chang, Andr?Desmarais and                       
    Peter Kruyt (alternate director to Mr.                                    
    Andr?Desmarais); and the independent non-executive                        
    directors of the Company are Messrs Hamilton Ho Hau                       
    Hay, Alexander Reid Hamilton, Hansen Loh Chung Hon                        
    and Norman Ho Hau Chong.                                                  
                                                                              
    * For the Chinese name, please refer to the press announcements today.