09:23     CAPITAL ESTATE<00193> - 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.                   
                                                                              
    CAPITAL ESTATE LIMITED                                                    
    (Incorporated in Hong Kong with limited liability)                        
                                                                              
    (Stock Code : 193)                                                        
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The Company has been informed by Capital Strategic Investment Limited,    
    a substantial shareholder that is interested in approximately 21.13%      
    in the issued share capital of the Company, that it has been              
    approached for the possibility of the sale of its interest in the         
    Company (the "Possible Disposal"). In accordance with Rule 13.09 of       
    the Listing Rules, the Company wishes to inform the public of the         
    Possible Disposal.                                                        
                                                                              
    As the Possible Disposal may or may not take place, shareholders of       
    the Company and public investors are advised to exercise extreme          
    caution when dealing in the shares of the Company.                        
                                                                              
    The Company noted the recent increase in the price of the shares of       
    the Company and wish to state that the Company is not aware of any        
    reasons for such increases.                                               
                                                                              
    The Company has been informed by Capital Strategic Investment Limited,    
    a substantial shareholder that is interested in approximately 21.13%      
    in the issued share capital of the Company, that it has been              
    approached today by an intermediary representing an unidentified          
    investor which enquired the possibility of the sale of its interest in    
    the Company.                                                              
                                                                              
    The Company has been advised by Capital Strategic Investment Limited      
    that no substantive contemplation, discussions or negotiations in         
    respect of the Possible Disposal has taken place and no material terms    
    or timetable have been agreed for the Possible Disposal.                  
                                                                              
    As the Possible Disposal may or may not take place, shareholders of       
    the Company and public investors are advised to exercise extreme          
    caution when dealing in the shares of the Company.                        
                                                                              
    The directors of the Company will keep the market informed by way of      
    announcement as and when they have been notified of the progress of       
    the Possible Disposal in compliance with the Rules Governing the          
    Listing of Securities on The Stock Exchange of Hong Kong Limited.         
                                                                              
    Save as disclosed above, the Company is not aware of any negotiations     
    or agreements relating to intended acquisitions or realisations which     
    are discloseable under Rule 13.23 of the Listing Rules, nor is the        
    board of directors of the Company aware of any matter discloseable        
    under the general obligation imposed by Rule 13.09 of the Listing         
    Rules, which is or may be of a price-sensitive nature.                    
                                                                              
            By Order of the Board of                                          
            Capital Estate Limited                                            
            Ma Wai Man, Catherine                                             
            Company Secretary                                                 
                                                                              
    Hong Kong, 11 April 2005                                                  
                                                                              
    As at the date of this announcement, Mr. Choo Yeow Ming, Mr. Ng Kai       
    Man, Luke, Ms. Ma Wai Man, Catherine, Mr. Chow Hou Man are the            
    executive directors of the Company and Mr. Miu, Frank H., Mr. Sin Chi     
    Fai and Ms. Ng Yuk Yee, Feona, are the independent non-executive          
    directors of the Company.