09:50     SHK PPT<00016> - Announcement (3)                                   

                                   purchase agreement dated 4                 
                                   April 2005 entered into by                 
                                   the Vendor and the Purchaser               
                                   in connection with the                     
                                   Acquisition                                
    `Sale Loan'                    the shareholder's loan in the              
                                   principal amount of                        
                                   US$18,894,739 (approximately               
                                   HK$147,378,964) together with              
                                   interest accrued thereon in                
                                   the amount of US$8,347,767.57              
                                   (approximately HK$65,112,587)              
                                   owed by Widegood to the                    
                                   Vendor                                     
    `Sale Shares'                  30 shares of US$1.00 each in               
                                   Widegood representing                      
                                   approximately 31.58% of the                
                                   entire issued share capital                
                                   of                                         
                                   Widegood                                   
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong                                       
                                   Limited                                    
    `Vendor'                       ITOCHU Corporation, a company              
                                   incorporated in                            
                                   Japan                                      
    `Widegood'                     Widegood Investment Ltd., a                
                                   company incorporated in the                
                                   British Virgin Islands and a               
                                   non-wholly owned subsidiary                
                                   of the Company                             
    `Xin Zhong Hui'                means Shanghai Xin Zhong Hui               
                                   Property Co., Ltd. , a                     
                                   Sino-foreign equity joint                  
                                   venture established in the                 
                                   PRC and a non-wholly owned                 
                                   subsidiary of the                          
                                   Company                                    
    `HK$'                          Hong Kong dollars, the lawful              
                                   currency of Hong                           
                                   Kong                                       
    `US$'                          United States dollars, the                 
                                   lawful currency of the United              
                                   States of America                          
    `%'                            per cent.                                  
                                                                              
                                                                              
                                                                              
                                                                              
    By Order of the Board                                                     
    SUN HUNG KAI PROPERTIES LIMITED                                           
    Lai Ho-kai, Ernest                                                        
    Company Secretary                                                         
                                                                              
    Hong Kong, 4 April 2005                                                   
                                                                              
    As at the date of this announcement, the Board comprises of eight         
    executive Directors, being Kwok Ping-sheung Walter, Kwok Ping-kwong       
    Thomas, Kwok Ping-luen Raymond, Chan Kai-ming, Chan Kui-yuen Thomas,      
    Kwong Chun, Wong Yick-kam Michael and Wong Chik-wing Mike; five           
    non-executive Directors, being Lee Shau-kee, Woo Po-shing, Kwan           
    Cheuk-yin William, Lo Chiu-chun Clement and Law King-wan; and three       
    independent non-executive Directors, being Chung Sze-yuen, Fung           
    Kwok-king Victor and Yip Dicky Peter.                                     
                                                                              
    In this announcement, US$ has been converted to HK$ at the rate of        
    US$1 = HK$7.8 for illustration purpose only. No representation is         
    made that any amounts in US$ or HK$ have been or could have been or       
    could be converted at the above rate or at any other rates or at          
    all.                                                                      
                                                                              
    Please also refer to the published version of this announcement in South  
    China Morning Post.