09:43     <00226>, <00156> & <00655> - Joint Announcement (2)                 

    the Listing Rules such that the despatch of the                           
    circulars had been postponed to a date falling on or                      
    before 2nd March, 2005 and 16th March, 2005                               
    respectively.                                                             
                                                                              
    During the period from 2nd March, 2005 to the date                        
    of this announcement, most of the information for the                     
    purpose of the letter from the independent financial                      
    adviser ("IFA Letter") to be appended to the                              
    respective circulars of Lippo and LCR have been                           
    collated. However, more time is required by each of                       
    Lippo and LCR to compile the outstanding information                      
    to enable the independent financial adviser to                            
    finalise the IFA Letter for inclusion in their                            
    respective circulars. Accordingly, each of Lippo and                      
    LCR has applied to the Stock Exchange for a waiver                        
    from strict compliance with rule 14A.49 of the Listing                    
    Rules so that the despatch of their respective                            
    circulars in relation to the First Announcement will                      
    be postponed to a date falling on or before 4th April,                    
    2005.                                                                     
                                                                              
    Similarly, more time is required by Lippo to compile                      
    financial information for finalisation of the                             
    circular of Lippo. Accordingly, each of Lippo, LCR                        
    and HCL has applied to the Stock Exchange for a waiver                    
    from strict compliance with rule 14.38 of the Listing                     
    Rules so that the despatch of their respective                            
    circulars in relation to the Second Announcement will                     
    be postponed to a date falling on or before 4th April,                    
    2005.                                                                     
                                                                              
    By Order of the Board                                                     
    LIPPO LIMITED                                                             
    Davy Lee                                                                  
    Secretary                                                                 
                                                                              
    By Order of the Board                                                     
    LIPPO CHINA RESOURCES LIMITED                                             
    Millie Luk                                                                
    Secretary                                                                 
                                                                              
    By Order of the Board                                                     
    HONGKONG CHINESE LIMITED                                                  
    Andrew Hau                                                                
    Secretary                                                                 
                                                                              
    Hong Kong, 16th March, 2005                                               
                                                                              
    The board composition of each of Lippo, LCR and HCL                       
    as at the date of this announcement is as follows:                        
                                                                              
    LIPPO   LCR     HCL                                                       
    Non-executive Director: Non-executive Directors:                          
            Non-executive Directors:                                          
    Mr. Leon Nim Leung Chan Dr. Mochtar Riady       Dr.                       
    Mochtar Riady                                                             
    Mr. Ning Gaoning        Mr. Leon Nim Leung Chan                           
    Executive Directors:    Mr. Leon Nim Leung Chan                           
    Mr. Stephen Riady               Executive Directors:                      
    Mr. John Luen Wai Lee   Executive Directors:    Mr.                       
    Stephen Riady                                                             
    Mr. Jark Pui Lee        Mr. James Riady Mr. John Luen Wai                 
    Lee                                                                       
    Mr. David T. Yeh        Mr. Stephen Riady       Mr. Jesse Nai             
    Chau Leung                                                                
    Mr. John Luen Wai Lee   Mr. Kee Yee Kor                                   
    Independent Non-executive                                                 
      Directors:    Independent Non-executive                                 
            Independent Non-executive               Mr. Edwin Neo             
    Directors:        Directors:                                              
    Mr. Victor Ha Kuk Yung  Mr. Edwin Neo   Mr. Albert                        
    Saychuan Cheok                                                            
    Mr. King Fai Tsui       Mr. Victor Ha Kuk Yung  Mr.                       
    Victor Ha Kuk Yung                                                        
    Mr. King Fai Tsui       Mr. King Fai Tsui