09:31     <00226>, <00156> & <00655> - Joint Announcement (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.                                                     
                                                                              
    Lippo Limited            Lippo China            Hongkong                  
                            Resources Limited       Chinese Limited           
    (Incorporated in        (Incorporated in Hong   (Incorporated in Bermuda  
    Hong Kong with          Kong with limited       with limited liability)   
    limited liability)      liability)                                        
    (Stock Code: 226)       (Stock Code: 156)       (Stock Code: 655)         
                                                                              
                                                                              
                                                                              
                                                                              
    JOINT ANNOUNCEMENT                                                        
                                                                              
    FURTHER DELAY IN DESPATCH OF CIRCULARS                                    
                                                                              
    Each of Lippo, LCR and HCL has made an application                        
    to the Stock Exchange for a further extension of time                     
    for the despatch of their respective circulars to a                       
    date falling on or before 15th April, 2005.                               
                                                                              
    Reference is made to (i) the joint announcement dated                     
    25th January, 2005 (the "First Announcement") issued                      
    by Lippo Limited ("Lippo") and Lippo China Resources                      
    Limited ("LCR") in relation to continuing connected                       
    transactions; (ii) the joint announcement dated 27th                      
    January, 2005 (the "Second Announcement") issued by                       
    Lippo, LCR and Hongkong Chinese Limited ("HCL") in                        
    relation to a major transaction for Lippo and a                           
    discloseable transaction for each of LCR and HCL; and                     
    (iii) the joint announcements dated 16th February,                        
    2005, 2nd March, 2005 and 16th March, 2005                                
    respectively issued subsequently by Lippo, LCR and                        
    HCL in respect of the delay in despatch of circulars                      
    of Lippo, LCR and HCL in relation to the                                  
    aforementioned transactions (the "Delay                                   
    Announcements"). Terms defined in the First                               
    Announcement, the Second Announcement and the Delay                       
    Announcements shall have the same respective meanings                     
    when used herein unless the context otherwise                             
    requires.                                                                 
                                                                              
    Pursuant to rule 14A.49 of the Listing Rules, each                        
    of Lippo and LCR is required to despatch a circular                       
    in relation to the transactions in the First                              
    Announcement to their respective shareholders within                      
    21 days after the publication of the First                                
    Announcement, which was on or before 16th February,                       
    2005. In addition, pursuant to rule 14.38 of the                          
    Listing Rules, each of Lippo, LCR and HCL is required                     
    to despatch a circular in relation to the transaction                     
    in the Second Announcement to their respective                            
    shareholders within 21 days after the publication of                      
    the Second Announcement, which was on or before 18th                      
    February, 2005.                                                           
                                                                              
    As disclosed in the Delay Announcements, each of Lippo,                   
    LCR and HCL had applied to the Stock Exchange for a                       
    waiver from strict compliance with rules 14.38 and                        
    14A.49 of the Listing Rules such that the despatch                        
    of the circulars had been postponed to a date falling                     
    on or before 2nd March, 2005, 16th March, 2005 and                        
    4th April, 2005 respectively.                                             
                                                                              
    However, more time is required by each of Lippo and                       
    LCR to obtain the consent letter and confirmation in                      
    relation to its interests, if any, in any                                 
    shareholdings and/or assets of the members of the                         
    Group from the independent valuer whose valuations                        
    on certain properties were used by the independent