09:30     NEW WORLD CHINA<00917> - 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.                                                             
                                                                              
    New World China Land Limited                                              
    (Incorporated in the Cayman Islands with limited liability)               
                                                                              
    (Stock code: 0917)                                                        
                                                                              
    RESULTS OF RIGHTS ISSUE OF 2,255,294,538 RIGHTS SHARES                    
    OF HK$0.10 EACH AT HK$2.80 PER RIGHTS SHARE                               
                                                                              
    Results of the Rights Issue                                               
                                                                              
    The Directors are pleased to announce that the Rights Issue has           
    become unconditional at 4:00 p.m. on Friday, 8 April 2005.                
                                                                              
    The Company has received valid acceptances for a total of                 
    1,867,576,027 Rights Shares provisionally allotted under the              
    Rights Issue and valid applications for a total of 12,366,632             
    excess Rights Shares. Accordingly, the Rights Issue was                   
    approximately 83.36% subscribed, of which approximately 82.81%            
    were subscribed under the provisional allotments of Rights Shares         
    and approximately 0.55% were subscribed under the excess                  
    applications for the Rights Shares. As a result of                        
    under-subscription of the Rights Shares, NWD has performed its            
    obligations under the Underwriting Agreement by subscribing for           
    375,351,879 Rights Shares in accordance with the terms of the             
    Underwriting Agreement. Accordingly, NWD, together with parties           
    acting in concert with it, will be interested in 3,032,258,906            
    Shares upon completion of the Rights Issue, representing                  
    approximately 80.64% of the issued share capital of the Company           
    as enlarged by the Rights Issue. The Company and NWD will take            
    appropriate steps to restore the number of Shares held by the             
    public in compliance with Rule 8.08 of the Listing Rules as soon          
    as practicable.                                                           
                                                                              
    Reference is made to the prospectus in relation to the Rights Issue       
    (the ``Prospectus'') issued by the Company on 21 March 2005.              
    Capitalised terms used herein shall have the same meanings as             
    defined in the Prospectus unless otherwise stated.                        
                                                                              
    RESULTS OF THE RIGHTS ISSUE                                               
                                                                              
    The Directors are pleased to announce that all of the conditions          
    set out in the Underwriting Agreement have been fulfilled and the         
    Underwriting Agreement has not been terminated in accordance with         
    its terms. The Rights Issue has become unconditional at 4:00 p.m.         
    on Friday, 8 April 2005.                                                  
                                                                              
    303 valid acceptances of provisional allotment of Rights Shares           
    have been received for a total of 1,867,576,027 Rights Shares and         
    238 valid applications for excess Rights Shares have been received        
    for a total of 12,366,632 Rights Shares, resulting in a total of          
    valid applications for 1,879,942,659 Rights Shares. Such                  
    acceptances and applications include:                                     
                                                                              
    (i)   344,996,389 Rights Shares accepted and paid for by the              
    Qualifying Shareholders pursuant to their entitlements under the          
    Rights Issue (other than NWD);                                            
                                                                              
    (ii)   12,366,632 excess Rights Shares applied for by the                 
    Qualifying Shareholders; and                                              
                                                                              
    (iii)   1,522,579,638 Rights Shares accepted and paid for by NWD          
    pursuant to their entitlements under the Rights Issue.                    
                                                                              
    Based on the subscription results of the Rights Issue as set forth        
    above, the Rights Issue was approximately 83.36% subscribed, of           
    which approximately 82.81% were subscribed under the provisional          
    allotments of Rights Shares and approximately 0.55% were                  
    subscribed under the excess applications for the Rights Shares.