08:59     PREMIUM LAND<00164> - Share Consolidation                           

    Market participants are requested to note that the ordinary               
    shares of HKD0.01 each ("Old Shares") in the capital of Premium Land      
    Limited will be consolidated into ordinary shares of HKD0.01 each (after  
    capital reduction) ("New Shares") on the basis of 20 into 1 subject to its
    shareholders' approval at the Special General Meeting to be held on       
    06/04/2005.  Upon the proposals becoming effective, a temporary counter   
    under stock code 2971 and stock short name "PREMIUM LAND" will be         
    established for trading in board lots of 500 New Shares each to replace   
    the present counter (stock code: 164) for trading in board lots of 10,000 
    Old Shares each effective from Thursday, 07/04/2005.