08:59     NEW WORLD CHINA<00917> - Announcement                               

    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.               
                                                                              
    New World China Land Limited                                              
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 0917)                                                        
                                                                              
    DISCLOSURE UNDER RULE 13.18 OF THE LISTING RULES                          
                                                                              
    The directors of New World China Land Limited announce that Beijing       
    Lingal Real Estates Development Co., Ltd., an indirect wholly-owned       
    subsidiary of the Company, was granted a 2-year term loan facility        
    of up to RMB200,000,000 by a bank.  Pursuant to the terms of the          
    facility, the Company has undertaken to the bank that New World           
    Development Company Limited will maintain a specified minimum             
    shareholding in the Company.                                              
                                                                              
    This announcement is made pursuant to Rule 13.18 of the Rules             
    Governing the Listing of Securities on The Stock Exchange of Hong Kong    
    Limited (the ``Listing Rules'').                                          
                                                                              
    On 24th March 2005, Beijing Lingal Real Estates Development Co., Ltd.     
    (``Beijing Lingal''), an indirect wholly-owned subsidiary of New          
    World China Land Limited (the ``Company'') entered into a loan            
    facility agreement with a bank for provision of a 2-year term loan        
    facility of up to RMB200,000,000 (the ``Facility'').  The Company had     
    undertaken to the bank that New World Development Company Limited         
    (``NWD''), the Company's controlling shareholder, will ultimately         
    and beneficially retain an interest of at least 51 per cent. in the       
    issued share capital of the Company throughout the term of the            
    Facility.  Failure to perform the undertaking which continues for a       
    period of 7 days next following the date of notice given by the bank      
    requiring the same to be remedied will constitute an event of default     
    which will render the outstanding liabilities of Beijing Lingal under     
    the Facility to become immediately due and payable and the Facility       
    to be terminated.  At the date of this announcement, NWD holds            
    attributable interests of 68.97 per cent. in the issued share capital     
    of the Company.                                                           
                                                                              
    Beijing Lingal is a co-operative joint venture company established        
    in the People's Republic of China (``PRC'') and principally engaged       
    in the development of Chateau Regalia Beijing (the ``Property'') in       
    the PRC.  The Facility will be utilized to finance the outstanding        
    construction cost of the Property.                                        
                                                                              
    The Company will make continuing disclosure requirement pursuant to       
    Rule 13.21 of the Listing Rules.                                          
                                                                              
    By order of the board                                                     
    New World China Land Limited                                              
    Chow Yu-chun, Alexander                                                   
    Company Secretary                                                         
                                                                              
    Hong Kong, 24th March, 2005                                               
                                                                              
    As at the date hereof, the board of directors of the Company comprises    
    (1) Dr. Cheng Kar-shun, Henry, Messrs. Doo Wai-hoi, William, Cheng        
    Kar-shing, Peter, Leung Chi-kin, Stewart, Chow Kwai-cheung, Chow          
    Yu-chun, Alexander, Fong Shing-kwong, Michael as executive directors;     
    (2) Mr. Fu Sze-shing as non-executive director; and (3) Messrs. Cheng     
    Wai-chee, Christopher, Tien Pei-chun, James and Lee Luen-wai, John        
    as independent non-executive directors.