09:48     <04842>, <04843> & <04844> - Announcement (3)                       

    Warrant 3:                                                                
    Company:        Sun Hung Kai Properties Limited                           
    Shares:Existing issued ordinary shares of HK$0.50 each of the Company     
    Type:   Call                                                              
    Issue Size:     189,000,000                                               
    Launch Date:    20 April, 2005                                            
    Issue Price:    HK$0.53                                                   
    Issue Date:     25 April, 2005                                            
    Expiry Date:    31 October, 2005                                          
    Exercise Price: HK$71.88 per ten Warrants                                 
    Board Lot:      10,000 Warrants                                           
    Exercise Amount:        10 Warrants                                       
    Entitlement:    1 Share                                                   
    Premium:        7.57%                                                     
    Gearing:        13.54x                                                    
    Effective Gearing:      7.58x                                             
    Implied Volatility:     23.50%                                            
    Listing Date:   27 April, 2005                                            
    Liquidity Provider Broker ID Number:    9509                              
                                                                              
    21 April, 2005                                                            
    SGA Societe Generale Acceptance N.V.