09:28     CHEUNG KONG<00001> - Announcement (4)                               

    Hetang Village of Xingcheng Town;                                         
                                                                              
    "Changsha Land Bureau"  Land and Resources Bureau of Wangcheng            
    County, Changsha Municipal, Hunan Province;                               
                                                                              
    "Changsha Land Use Right        the agreement dated 26th April,           
    2005 entered into by JVCo2 and Changsha                                   
      Transfer Contract"    Land Bureau for the acquisition of land           
    use right in respect of the Changsha Land;                                
                                                                              
    "CKH"   Cheung Kong (Holdings) Limited, a company incorporated            
    in Hong Kong with limited liability, the shares of which are              
    listed on the Main Board of the Stock Exchange (Stock Code: 001);         
                                                                              
    "CKH Group"     CKH and its subsidiaries;                                 
                                                                              
    "connected person"      shall have the meaning ascribed to it in          
    Listing Rule 1.01;                                                        
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative Region of the        
    PRC;                                                                      
                                                                              
    "HWL"   Hutchison Whampoa Limited, a company incorporated in Hong         
    Kong with limited liability, the shares of which are listed on            
    the Main Board of the Stock Exchange (Stock Code: 013);                   
                                                                              
    "HWL Group"     HWL and its subsidiaries;                                 
                                                                              
    "JVCo1" * Hutchison Whampoa Properties                                    
    (Changchun) Limited, a company established in the PRC on 18th             
    April, 2005 and wholly foreign owned as to 50%, and represented           
    equally on its board of directors, by indirect wholly owned               
    subsidiaries of CKH and HWL for the sole purpose of effecting             
    the acquisition and development of the Changchun Land;                    
                                                                              
    "JVCo2" * Hutchison Whampoa                                               
    Properties (Changsha WangCheng) Limited, a company established            
    in the PRC on                                                             
    15th April, 2005 and wholly foreign owned as to 50%, and                  
    represented equally on its board of directors, by indirect wholly         
    owned subsidiaries of CKH and HWL for the sole purpose of                 
    effecting the acquisition and development of the Changsha Land;           
                                                                              
    "Listing Rules" the Rules Governing the Listing of Securities             
    on the Main Board of the Stock Exchange;                                  
                                                                              
    "PRC"   the People's Republic of China;                                   
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong Limited;          
                                                                              
    "substantial shareholder"       shall have the meaning ascribed to        
    it in Listing Rule 1.01;                                                  
                                                                              
    "HK$"   Hong Kong Dollars, the lawful currency of Hong Kong;              
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC; and                     
                                                                              
    "US$"   United States Dollars, the lawful currency of the United          
    States of America.                                                        
                                                                              
    The exchange rate used for reference purpose in this announcement         
    is RMB1.00 to HK$0.94 and US$1.00 to HK$7.80.                             
                                                                              
    By Order of the Board                                                     
    CHEUNG KONG (HOLDINGS) LIMITED                                            
    Eirene Yeung                                                              
    Company Secretary                                                         
                                                                              
    Hong Kong, 26th April, 2005                                               
                                                                              
    Note:   Other than Chairman and Managing Director, order by date          
    of appointment, and in the case of Non-executive Director                 
    ("NED")/Independent Non-executive Director ("INED"), order by             
    date of appointment as NED/INED.