ANNOUNCEMENTS


GUOCO GROUP LIMITED
(Incorporated in Bermuda with limited liability)

DAO HENG BANK GROUP LIMITED
(Incorporated in Bermuda with limited liability)

JOINT ANNOUNCEMENT

Appointment of Mr. Peter Anthony Wakefield as Director.

The Boards of Directors of Guoco Group Limited ("GGL") and Dao Heng Bank Group Limited ("DHBG") jointly announce that Mr. Peter Anthony Wakefield has been appointed as a Director of GGL and DHBG with effect from 15th December, 2000.



By Order of the Board of
Guoco Group Limited
Doris W.N. Wong

Company Secretary
By Order of the Board of
Dao Heng Bank Group Limited
Doris W.N. Wong

Company Secretary

Hong Kong, 5th January, 2001

Please also refer to the published version of this announcement in South China Morning Post and Hong Kong Economic Journal.