09:36     SHANGHAI ZENDAI<00755> - 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.                   
                                                                              
    SHANGHAI ZENDAI PROPERTY LIMITED                                          
    (Incorporated in the Bermuda with limited liability)                      
    (Stock Code: 755)                                                         
                                                                              
    CLARIFICATION ANNOUNCEMENT                                                
                                                                              
    This announcement is made pursuant to Rule 13.09 of the Listing Rules.    
                                                                              
    The Board would like to clarify certain information contained in the      
    Articles.                                                                 
                                                                              
    The Board would like to state that as at 31 December 2004, the audited    
    consolidated total assets of the Group amounted to approximately          
    HK$1,770,000,000 and according to information provided by Mr. Dai, the    
    assets owned by Mr. Dai's private companies (apart from his interests     
    in the Company) amounted to approximately HK$2,000,000,000. Mr. Dai did   
    not say at the press conference held yesterday that he would inject       
    such assets owned by his private companies into the Group. As at the      
    date of this announcement, there is no negotiation in relation thereto    
    and the Company has no timetable nor any concrete plan to inject any of   
    the assets owned by Mr. Dai's private companies into the Group,           
    although the Company will not rule out such possibility. Should the       
    Company wish to do so in the future, the Company will comply with the     
    requirements of the Listing Rules.                                        
                                                                              
    The Directors confirm that save as disclosed above, there are no          
    negotiations or agreements relating to intended acquisitions or           
    realisations which are discloseable under Rule 13.23, neither is the      
    board aware of any matter discloseable under the general obligation       
    imposed by Rule 13.09, which is or may be of a price-sensitive nature.    
                                                                              
    This announcement is made by the order of the board of the Company, the   
    Directors of which individually and jointly accept responsibility for     
    the accuracy of this statement.                                           
                                                                              
    Shareholders and potential investors are advised to exercise caution      
    when dealing in shares of the Company.                                    
                                                                              
    This announcement is made pursuant to Rule 13.09 of the Rules (the        
    "Rules") Governing the Listing of Securities on The Stock Exchange of     
    Hong Kong Limited.                                                        
                                                                              
    The board (the "Board") of directors (the "Directors") of Shanghai        
    Zendai Property Limited (the "Company", which together with its           
    subsidiaries, the "Group") would like to clarify certain information      
    contained in various articles (the "Articles") in various newspapers      
    circulating in Hong Kong today.                                           
                                                                              
    The Board would like to state that as at 31 December 2004, the audited    
    consolidated total assets of the Group amounted to approximately          
    HK$1,770,000,000 and accordingly to information provided by Mr. Dai,      
    the assets owned by Mr. Dai's private companies (apart from his           
    interests in the Company) amounted to approximately HK$2,000,000,000.     
    Mr. Dai did not say at the press conference held yesterday that he        
    would inject such assets owned by his private companies into the Group.   
    As at the date of this announcement, there is no negotiation in           
    relation thereto and the Company has no timetable nor any concrete plan   
    to inject any of the assets owned by Mr. Dai's private companies into     
    the Group, although the Company will not rule out such possibility.       
    Should the Company wish to do so in the future, the Company will comply   
    with the requirements of the Listing Rules.                               
                                                                              
    Shareholders and potential investors are advised to exercise caution      
    when dealing in shares of the Company.                                    
                                                                              
    The Directors confirm that save as disclosed above, there are no          
    negotiations or agreements relating to intended acquisitions or           
    realisations which are discloseable under Rule 13.23, neither is the      
    board aware of any matter discloseable under the general obligation       
    imposed by Rule 13.09, which is or may be of a price-sensitive nature.    
                                                                              
    This announcement is made by the order of the board of the Company, the   
    Directors of which individually and jointly accept responsibility for     
    the accuracy of this statement.                                           
                                                                              
    As at the date of this announcement, the executive Directors are Mr.      
    Dai Zhikang, Mr. Tang Jian, Mr. Zhao Hangsheng, Mr. Zhang Wei and Mr.     
    Zhu Nansong. The independent non-executive Directors are Mr. Lo Mun