09:35     MIDLAND REALTY<01200> - 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.                                                     
                                                                              
    MIDLAND REALTY (HOLDINGS) LIMITED                                         
    (Incorporated in Bermuda with limited liability)                          
    website: www.midland.com.hk                                               
    (Stock Code: 1200)                                                        
                                                                              
    CONTINUING CONNECTED TRANSACTION                                          
                                                                              
    The Board announces that on 15 April 2005, three                          
    tenancy agreements regarding the leasing of                               
    properties were entered into by the Group and various                     
    connected persons.                                                        
                                                                              
    As each of lessors is an associate of Mr. Wong, the                       
    Chairman, Managing Director and substantial                               
    shareholder of the Company, each of these parties is                      
    deemed to be a connected person of the Company within                     
    the meaning of the Listing Rules and these                                
    transactions therefore constitute continuing                              
    connected transactions of the Company under Rule                          
    14A.14 of the Listing Rules.                                              
                                                                              
    Given that the aggregate annual cap payable by the                        
    Group under all these tenancy agreements represents                       
    less than 2.5 per cent. of the applicable percentage                      
    ratios under the Listing Rules, the agreements are                        
    subject to reporting, announcement and annual review                      
    requirements under Rules 14A.45 to 14A.47 and Rules                       
    14A.37 to 14A.40 of the Listing Rules respectively                        
    but no Independent Shareholders' approval is required.                    
    Details of the Agreements will be included in the                         
    annual report and accounts of the Company of each of                      
    the relevant financial years in accordance with Rule                      
    14A.46 of the Listing Rules.                                              
                                                                              
    (A)     Tenancy Agreement with Get Best ("Agreement A")                   
    Get Best and Systems Gold entered into a tenancy                          
    agreement regarding the renewal of the following                          
    lease on 15 April 2005 on the following principal                         
    terms:                                                                    
                                                                              
    Lessor: Get Best                                                          
                                                                              
    Lessee: Systems Gold                                                      
                                                                              
    Premises:       Ground Floor with cockloft, No. 135                       
    Thomson Road, Wan Chai, Hong Kong                                         
                                                                              
    Area:   1,319 sq.ft.                                                      
                                                                              
    Period: 12 months commencing from 1 June 2005 and                         
    expiring on 31 May 2006                                                   
                                                                              
    Rental: Monthly rental payment of HK$58,000                               
    (exclusive of rates and management fees) payable                          
    monthly in advance                                                        
                                                                              
    Rent free period        1 June 2005 to 30 June 2005 for                   
    renovations                                                               
                                                                              
    Systems Gold has been the lessee of the above premises                    
    since 1 June 2004. The annual rental paid by Systems                      
    Gold to Get Best for the year ended 31 December 2004                      
    was HK$306,000.                                                           
                                                                              
    The maximum annual cap payable by Systems Gold under