09:51     SUN HUNG KAI CO<00086> - Announcement (3)                           

    financial information distribution, money lending                         
    including the provision of term loans, share margin                       
    financing, financial planning and wealth management,                      
    fund management, corporate finance, property                              
    investment and insurance consultancy.                                     
                                                                              
    Gilmore is principally engaged in the business of                         
    property holding. The principal activity of APL is                        
    investment holding and the principal activities of                        
    the major subsidiaries of APL are property investment                     
    and development, hospitality related activities and                       
    the provision of financial services.                                      
                                                                              
    DEFINITIONS                                                               
    Unless the context otherwise requires, capitalised                        
    terms used in this announcement shall have the                            
    following meanings:                                                       
                                                                              
    "APL"   Allied Properties (H.K.) Limited, a company                       
    incorporated under the laws of Hong Kong with limited                     
    liability, the shares of which are listed on the Stock                    
    Exchange. As at the date hereof, APL is the                               
    controlling shareholder of the Company, holding                           
    approximately 74.99% of the issued share capital of                       
    the Company                                                               
                                                                              
    "Board" the board of Directors                                            
                                                                              
    "Company"       Sun Hung Kai & Co. Limited, a company                     
    incorporated under the laws of Hong Kong with limited                     
    liability, the shares of which are listed on the Stock                    
    Exchange                                                                  
                                                                              
    "Directors"     the directors of the Company                              
                                                                              
    "Excalibur Futures"     Excalibur Futures Limited, a                      
    company incorporated under the laws of Hong Kong with                     
    limited liability and as at the date hereof, is an                        
    indirect wholly-owned subsidiary of the Company                           
                                                                              
    "Excalibur Securities"  Excalibur Securities Limited,                     
    a company incorporated under the laws of Hong Kong                        
    with limited liability and as at the date hereof, is                      
    an indirect wholly-owned subsidiary of the Company                        
                                                                              
    "Gilmore"       Gilmore Limited, a company incorporated                   
    under the laws of Hong Kong with limited liability                        
    and an indirect wholly-owned subsidiary of APL                            
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative                      
    Region of the People's Republic of China                                  
                                                                              
    "Listing Rules" the Rules Governing the Listing of                        
    Securities on the Stock Exchange                                          
                                                                              
    "Offer Letter"  an offer letter dated 1 March 2005                        
    from Gilmore to Excalibur Futures in relation to the                      
    leasing of the Properties and was subsequently                            
    accepted by Excalibur Futures on 8 March 2005                             
                                                                              
    "Properties"    Rooms 2202-2204 & 2205B, No.9 Queen's                     
    Road Central, Hong Kong, with a total gross floor area                    
    of approximately 8,923 square feet                                        
                                                                              
    "Shareholder(s)"        holder(s) of the shares of the                    
    Company                                                                   
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited                                                                   
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong