09:53     HK CONSTRUCTION<00190> - Announcement (2)                           

    In addition, the directors of the Company (the "Board")                   
    wishes to announce that an application has been made                      
    to the Stock Exchange today for a proposed redomicile                     
    of the Company from Hong Kong to Bermuda by way of                        
    a scheme of arrangement pursuant to Section 166 of                        
    the Companies Ordinance, Chapter 32 of the Laws of                        
    Hong Kong. Another announcement will be made by the                       
    Company giving further details thereon as soon as                         
    possible.                                                                 
                                                                              
    Save as disclosed above, the Board confirms that there                    
    are no negotiations or agreements relating to                             
    intended acquisitions or realizations which are                           
    discloseable under Rule 13.23 of the Listing Rules,                       
    neither is the Board aware of any matter discloseable                     
    under the general obligation imposed by Rule 13.09                        
    of the Listing Rules, which is or may be of a                             
    price-sensitive nature.                                                   
                                                                              
    Made by the order of the Board, the directors of which                    
    individually and jointly accept responsibility for                        
    the accuracy of this announcement.                                        
                                                                              
    As at the date of this announcement, the Board                            
    comprises 13 directors, of which 5 are Executive                          
    Directors, namely, Mr. OEI Kang Eric, Mr. CHEN Libo,                      
    Mr. TSANG Sai Chung Kirk, Ms. SO Hang Selina and Mr.                      
    TANG Sau Wai Tom, 5 are Non-Executive Directors,                          
    namely, Mr. OEI Tjie Goan, Mr. LI Xueming, Mr. XU Zheng,                  
    Mr. LIU Guolin and Mr. FAN Yan Hok Philip and 3 are                       
    Independent Non-Executive Directors, namely, Mr.                          
    CHUNG Cho Yee Mico, Mr. CHENG Yuk Wo and Mr. Albert                       
    Thomas DA ROSA, Junior.                                                   
                                                                              
    By order of the Board                                                     
    OEI Kang Eric                                                             
    Managing Director and Chief Executive Officer                             
                                                                              
    Hong Kong, 5 May 2005