09:27     CHEUNG KONG<00001>&HUTCHISON<00013>-Joint Announcement(5)           

    "JVCo.1"        a company to be established in the PRC with the proposed  
    name of Hutchison Whampoa Properties (Wuhan Jianghan North)               
    Limited 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 effecting the acquisition and             
    development of Jiang Han District, North Property into                    
    commercial and residential properties;                                    
                                                                              
    "JVCo.2"        a company to be established in the PRC with the proposed  
    name of Hutchison Whampoa Properties (Wuhan Jianghan South)               
    Limited 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 effecting the acquisition and             
    development of Jiang Han District, South Property into                    
    residential and commercial properties;                                    
                                                                              
    "JVCos" JVCo.1 and JVCo.2 collectively; and "JVCo." shall be              
    construed accordingly;                                                    
                                                                              
    "Land Development       the agreement entered into by Chellic and         
    Land Reserve Center of Wuhan Municipal                                    
      Compensation  dated 12 May, 2005 relating to the acquisition            
    of land use right in respect of the                                       
      Agreement No.1"       Jiang Han District, North Property;               
                                                                              
    "Land Development       the agreement entered into by Chellic and         
    Land Reserve Center of Wuhan Municipal                                    
      Compensation  dated 12 May, 2005 relating to the acquisition            
    of land use right in respect of the Jiang                                 
       Agreement No.2"       Han District, South Property;                    
                                                                              
    "Listing Rules" 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;          
                                                                              
    "HK$"   Hong Kong Dollars, the lawful currency of Hong Kong;              
                                                                              
    "RMB"   Reminbi, the lawful currency of the PRC; and                      
                                                                              
    "US$"   United States Dollars, the lawful currency of the United          
    States of America.                                                        
                                                                              
    The exchange rates used for reference purpose in this                     
    announcement are RMB1.00 to HK$0.94 and US$1.00 to HK$7.80.               
                                                                              
    By Order of the Board   By Order of the Board                             
    CHEUNG KONG (HOLDINGS) LIMITED  HUTCHISON WHAMPOA LIMITED                 
    Eirene Yeung    Edith Shih                                                
    Company Secretary       Company Secretary                                 
                                                                              
    Hong Kong, 17 May, 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 of NED/INED.