10:05     NWS HOLDINGS<00659> -  Announcement (7)                             

    NWD   New World Development Company Limited, a company incorporated       
    in Hong Kong with limited liability, the shares of which are listed       
    on the main board of the Stock Exchange                                   
                                                                              
    NWD Group   NWD, its subsidiaries and/or any other company in the         
    equity capital of which NWD and/or any of its subsidiaries taken          
    together are directly or indirectly interested so as to exercise or       
    control the exercise of 30% (or such other amount as may from time        
    to time be specified in the Code on Takeovers and Mergers as being        
    the level for triggering a mandatory general offer) or more of the        
    voting power at general meetings, or to control the composition of        
    a majority of the board of directors but excluding members of the Group   
                                                                              
    Operational Agreements   the individual agreements in respect of the      
    provision of any of the Operational Services and the Other Services       
    which may from time to time be entered into between a member of the       
    Group and a member of the NWD Group pursuant to the Master Services       
    Agreement, and Operational Agreement means any of them                    
                                                                              
    Operational Services   Contracting Services, Facility Management          
    Services, Security and Guarding Services, Cleaning and Landscaping        
    Services, Financial Services, Property Management Services and such       
    other types of services as the Company and NWD may agree upon from        
    time to time in writing                                                   
                                                                              
    Other Services   the rental of properties, vehicles and vessels and       
    the Sale of Food Products as described in Section 2 of this               
    announcement and such other types of services as the Company and NWD      
    may agree upon from time to time in writing                               
                                                                              
    PRC   The People's Republic of China (excluding Hong Kong, the Macau      
    Special Administrative Region of the PRC for the purposes of this         
    announcement)                                                             
                                                                              
    Property Management Services   property management and related            
    services as described in Section 2 of this announcement                   
                                                                              
    Sale of Food Products   supply of food products and related services      
    as described in Section 2 of this announcement                            
                                                                              
    Security and Guarding Services   security and related services as         
    described in Section 2 of this announcement                               
                                                                              
    SGM   the special general meeting of the Company to be held for the       
    purpose of considering and, if thought fit, approving, among other        
    things, the Continuing Connected Transactions                             
                                                                              
    Shareholders   holders of the shares of the Company                       
                                                                              
    Stock Exchange   The Stock Exchange of Hong Kong Limited                  
                                                                              
    substantial shareholder   has the meaning ascribed to it in the           
    Listing Rules                                                             
                                                                              
    As at the date of this announcement: (a) the executive directors of       
    the Company are Dr. Cheng Kar Shun, Henry, Mr. Doo Wai Hoi, William,      
    Mr. Chan Kam Ling, Mr. Tsang Yam Pui, Mr. Wong Kwok Kin, Andrew, Mr.      
    Lam Wai Hon, Patrick and Mr. Cheung Chin Cheung; (b) the non-executive    
    directors of the Company are Mr. Wilfried Ernst Kaffenberger              
    (alternate director to Mr. Wilfried Ernst Kaffenberger: Mr. Yeung Kun     
    Wah, David), Mr. To Hin Tsun, Gerald and Mr. Dominic Lai; and (c) the     
    independent non-executive directors of the Company are Mr. Kwong Che      
    Keung, Gordon, Mr. Cheng Wai Chee, Christopher and The Honourable Shek    
    Lai Him, Abraham.                                                         
                                                                              
    By Order of the Board                                                     
    NWS Holdings Limited                                                      
    Dr. Cheng Kar Shun, Henry                                                 
    Chairman                                                                  
                                                                              
    Hong Kong, 30 May 2005                                                    
                                                                              
    *For identification purposes only