10:17     WHEELOCK<00020> & WHEELOCK PPT<00049>-Joint Announcement-(4)        

    "Vendors" BCL and NVIL                                                    
    "Wheelock" Wheelock And Company Limited, a company incorporated in        
    Hong Kong with limited liability, the shares of which are listed on       
    the Stock Exchange, which holds approximately 74% shareholding            
    interest in WPL                                                           
    "Wheelock Group" Wheelock and its subsidiaries                            
    "WPSL" Wheelock Properties (Singapore) Limited, a company incorporated    
    in Singapore with limited liability and is a publicly-listed company      
    in Singapore                                                              
    "WPSL Group" WPSL and its subsidiaries                                    
    "WPL" Wheelock Properties Limited, a company incorporated in Hong Kong    
    with limited liability, the shares of which are listed on the Stock       
    Exchange, which holds approximately 75% shareholding interest in WPSL     
    "WPL Group" WPL and its subsidiaries                                      
                                                                              
    By order of the board of directors of                                     
    Wheelock And Company Limited                                              
    Wilson Chan                                                               
    Company Secretary                                                         
                                                                              
    By order of the board of directors of                                     
    Wheelock Properties Limited                                               
    Wilson Chan                                                               
    Company Secretary                                                         
                                                                              
    Hong Kong, 14 March 2005                                                  
                                                                              
    For the purpose of this announcement, conversion of poundinto HK$ or vice 
    versa has been calculated by using an exchange rate of 1 pound to HK$15.