09:47     HK CHINESE LTD<00655> & HK BLDG & LOAN<00145>-Joint Ann. (4)        

    capital and (ii) in LCR, through Lippo, which is held                     
    as to approximately 71.13 per cent. of its issued                         
    share capital, both as at the date of this                                
    announcement, and LCR in turn holding approximately                       
    72.26 per cent. of the issued share capital of HCL                        
    as at the date of this announcement), thereby                             
    constituting Lippo Cayman a connected person of HCL                       
    under the Listing Rules;                                                  
                                                                              
    (b)     as regards the Lippo Trading Accounts Agreement                   
    by virtue of Lippo Securities and Lippo Futures being                     
    indirect wholly-owned subsidiaries of HCL and Lippo                       
    being an indirect controlling shareholder of HCL                          
    (through its indirect shareholding interests in LCR),                     
    thereby constituting Lippo a connected person of HCL                      
    under the Listing Rules;                                                  
                                                                              
    (c)     as regards the LCR Trading Accounts Agreement                     
    by virtue of Lippo Securities and Lippo Futures being                     
    indirect wholly-owned subsidiaries of HCL and LCR                         
    being an indirect controlling shareholder of HCL,                         
    thereby constituting LCR a connected person of HCL                        
    under the Listing Rules; and                                              
                                                                              
    (d)     as regards the HKBLA Trading Accounts Agreement                   
    by virtue of Lippo Securities and Lippo Futures being                     
    indirect wholly-owned subsidiaries of HCL and LCR                         
    being a controlling shareholder of both HCL and HKBLA                     
    with LCR holding approximately 74.8 per cent. of the                      
    issued share capital of HKBLA as at the date of this                      
    announcement, thereby constituting HKBLA a connected                      
    person of HCL under the Listing Rules as an associate                     
    of LCR.                                                                   
                                                                              
    (2)     HKBLA as regards the HKBLA Trading Accounts                       
    Agreement by virtue of Lippo Securities and Lippo                         
    Futures being indirect wholly-owned subsidiaries of                       
    HCL and LCR being a controlling shareholder of both                       
    HCL and HKBLA, thereby constituting Lippo Securities                      
    and Lippo Futures connected persons of HKBLA under                        
    the Listing Rules as associates of LCR.                                   
                                                                              
    Each of the applicable percentage ratios (as defined                      
    in the Listing Rules) on an annual basis for HCL and                      
    HKBLA in relation to the aggregate commissions                            
    received or to be received by Lippo Securities and/or                     
    Lippo Futures for (1) each of the Trading Accounts                        
    Agreements (in respect of HCL) equals less than 2.5                       
    per cent. and (2) the HKBLA Trading Accounts Agreement                    
    (in respect of HKBLA) equals more than 2.5 per cent.                      
    but less than 25 per cent. and the said aggregate                         
    commissions is less than HK$10 million. Accordingly,                      
    the Trading Accounts Agreements (in respect of HCL)                       
    and the HKBLA Trading Accounts Agreement (in respect                      
    of HKBLA) are subject to reporting and announcement                       
    requirements under Rule 14A.34 of the Listing Rules                       
    but no approval of independent shareholders of HCL                        
    or HKBLA will be required.                                                
                                                                              
    The Lippo Trading Accounts Agreement, the LCR Trading                     
    Accounts Agreement, and the HKBLA Trading Accounts                        
    Agreement do not constitute continuing connected                          
    transactions for Lippo under the exemption set out                        
    in Rule 14A.31(1) of the Listing Rules as no connected                    
    person (as defined under the Listing Rules) of Lippo                      
    (other than at the level of its subsidiaries) is                          
    (individually or together) entitled to exercise, or                       
    control the exercise of, 10 per cent. or more of the                      
    voting power at the general meeting of the relevant                       
    subsidiaries concerned (as the case may be) other than                    
    through Lippo's shareholding interest in LCR.