09:46     HK CHINESE LTD<00655> & HK BLDG & LOAN<00145>-Joint Ann. (1)        

    The Stock Exchange of Hong Kong Limited takes no                          
    responsibility for the contents of this announcement,                     
    makes no representation as to its accuracy or                             
    completeness and expressly disclaims any liability                        
    whatsoever for any loss howsoever arising from, or                        
    in reliance upon, the whole or any part of the contents                   
    of this announcement.                                                     
                                                                              
    HONGKONG CHINESE LIMITED                                                  
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 655)                                                         
                                                                              
    THE HONG KONG BUILDING AND LOAN AGENCY LIMITED                            
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 145)                                                         
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    CONTINUING CONNECTED TRANSACTIONS                                         
                                                                              
    The respective boards of directors of each of HCL and                     
    HKBLA announce that on 16th March, 2005, the following                    
    standard trading accounts agreements were entered                         
    into between each of Lippo Securities and Lippo                           
    Futures, both of which are wholly-owned subsidiaries                      
    of HCL, and:                                                              
                                                                              
    (1)     Lippo Cayman for itself and its subsidiaries                      
    (other than Lippo, LCR, HCL, HKBLA and their                              
    respective subsidiaries);                                                 
                                                                              
    (2)     Lippo for itself and its subsidiaries (other                      
    than LCR, HCL, HKBLA and their respective                                 
    subsidiaries);                                                            
                                                                              
    (3)     LCR for itself and its subsidiaries (other than                   
    HCL, HKBLA and their respective subsidiaries); and                        
                                                                              
    (4)     HKBLA for itself and its subsidiaries.                            
                                                                              
    The Trading Accounts Agreements relate to each of                         
    Lippo Cayman, Lippo, LCR and HKBLA and/or their                           
    respective subsidiaries making securities and                             
    futures investments through trading accounts                              
    operated by Lippo Securities and Lippo Futures in the                     
    ordinary course of business of Lippo Securities and                       
    Lippo Futures.                                                            
                                                                              
    The term of each of the Trading Accounts Agreements                       
    commences from 31st March, 2004 to 31st December, 2006                    
    with trading commissions paid and payable to Lippo                        
    Securities and Lippo Futures in respect of trading                        
    of securities and futures under such trading accounts                     
    based on the relevant market rates at the time of each                    
    transaction and under terms and conditions that would                     
    apply to independent customers of comparable standing                     
    and in the ordinary course of businesses of each of                       
    Lippo Securities and Lippo Futures (as the case may                       
    be). The rate of commissions payable to Lippo                             
    Securities and Lippo Futures for each securities                          
    transaction varies, depending on the size of the trade,                   
    whilst that for each futures transaction is fixed at                      
    a specified rate, both on terms no more favourable                        
    to the relevant connected persons than those offered                      
    to or available from independent third parties. Such                      
    rates of commissions are charged at market rates                          
    comparable to that of other service providers in Hong                     
    Kong so as to enable Lippo Securities and Lippo                           
    Futures to remain competitive in their business.