09:46     Y.T. REALTY<00075> & CROSS-HAR(HOLD)<00032> - Joint Ann. (3)        

    Y. T. Realty under the Listing Rules. Y. T. Realty will despatch a        
    circular to its shareholders as soon as possible giving particulars       
    of the Placing in accordance with the provisions of the Listing           
    Rules.                                                                    
                                                                              
    PRINCIPAL ACTIVITIES OF THE Y. T. REALTY GROUP                            
                                                                              
    The principal activities of the Y. T. Realty Group are property           
    investment, property trading and the provision of property management     
    services.                                                                 
                                                                              
    GENERAL                                                                   
                                                                              
    The board of directors of Cross-Harbour has noted the recent              
    increase in the turnover of the Shares and wishes to state that it is     
    not aware of any reasons for such increase except for the Placing as      
    mentioned above.                                                          
                                                                              
    Save as disclosed herein, the board of directors of Cross-Harbour         
    confirms that there are no negotiations or agreements relating to         
    intended acquisitions or realisations which are discloseable under        
    rule 13.23 of the Listing Rules, neither is the board of directors of     
    Cross-Harbour 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.                                       
                                                                              
    DEFINITIONS                                                               
                                                                              
    `Bear Stearns'                 Bear Stearns Asia Limited                  
    `Convertible Note'             the convertible note in the                
                                   principal amount of                        
                                   HK$117,000,000 issued by the               
                                   Company to Honway on 11 June               
                                   2002, the current outstanding              
                                   principal amount of which is               
                                   HK$80,457,060                              
    `Cross-Harbour'                The Cross-Harbour (Holdings)               
                                   Limited, a company                         
                                   incorporated in Hong Kong                  
                                   with limited liability whose               
                                   Shares are listed on the Main              
                                   Board of the Stock Exchange                
    `Cross-Harbour Group'          Cross-Harbour and its                      
                                   subsidiaries                               
    `HK$'                          Hong Kong dollars                          
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   People's Republic of China                 
    `Honway'                       Honway Holdings Limited, a                 
                                   company incorporated in the                
                                   British Virgin Islands with                
                                   limited liability and a                    
                                   wholly-owned subsidiary of Y.              
                                   T. Realty                                  
    `Listing Rules'                Rules Governing the Listing                
                                   of Securities on the Stock                 
                                   Exchange                                   
    `Placing'                      the placing of the Placing                 
                                   Shares by Bear Stearns to an               
                                   independent third party                    
    `Placing Price'                HK$7.25 per Placing Share                  
    `Placing Shares'               7,000,000 existing Shares                  
    `Share(s)'                     share(s) of HK$1.00 each in                
                                   the share capital of                       
                                   Cross-Harbour                              
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong Limited                               
    `Y. T. Realty'                 Y. T. Realty Group Limited, a              
                                   company incorporated in                    
                                   Bermuda with limited                       
                                   liability whose shares are                 
                                   listed on the Main Board of                
                                   the Stock Exchange                         
    `Y. T. Realty Group'           Y. T. Realty and its                       
                                   subsidiaries                               
                                                                              
    By order of the board                                                     
    Y. T. Realty Group Limited                                                
    Wong Chi Keung                                                            
    Managing Director                                                         
                                                                              
    By order of the board                                                     
    The Cross-Harbour (Holdings) Limited                                      
    Yeung Hin Chung, John                                                     
    Managing Director                                                         
                                                                              
    Hong Kong, 24 May 2005                                                    
                                                                              
    As at the date of this announcement, the board of directors of Y. T.      
    Realty comprises Mr. Cheung Chung Kiu, Mr. Wong Chi Keung, Mr. Yuen       
    Wing Shing and Ms. Tung Wai Lan, Iris who are executive directors;        
    Mr. Lee Ka Sze, Carmelo who is a non-executive director and Mr. Wong      
    Wai Kwong, David, Mr. Wong Yat Fai and Mr. Ng Kwok Fu who are             
    independent non-executive directors.