SUN HUNG KAI PROPERTIES LIMITED
1999-2000 INTERIM REPORT

The unaudited results of the Group for the half year ended 31st December, 1999 were as follows:-

Notes

1. Hong Kong profits tax is provided at the rate of 16% (1998: 16%) based on the estimated assessable profits for the period.

2. The calculation of earnings per share is based on the Group's profit after taxation and minority interests for the six-month period ended 31st December, 1999 of HK$5,253 million (1998: HK$4,723 million) and 2,401 million shares (1998: weighted average of 2,392 million shares) in issue during the period.

Purchase, Sale or Redemption of Shares

The Company has not redeemed any of its ordinary shares during the half year ended 31st December, 1999. Neither the Company nor any of its subsidiaries has purchased or sold any of the Company's ordinary shares during this period.

Interim Dividend

The Directors of the Company announced an interim dividend of HK$0.55 per HK$0.50 ordinary share payable in cash on 20th April, 2000 to shareholders on the Register of Members as at 20th April, 2000.

The Register of Members will be closed from 13th April, 2000 to 20th April, 2000, both days inclusive. In order to qualify for the above dividend, all transfer forms accompanied by the relevant share certificates must be lodged with the Company's Registrars, Central Registration Hong Kong Limited, Hopewell Centre, 17th floor, 183 Queen's Road East, Hong Kong for registration not later than 4:00 p.m. on 12th April, 2000.

Year 2000 Compliance

The Group's transition into 2000 was a smooth one. This was the result of the hard work and concerted effort put in by all departments over the past several years. No disruption of regular business operation has been reported.

However we will continue to stay vigilant, alert and prepared for the other upcoming "high risk" days generally identified with the Y2K issue.

Our total cost incurred for the programme was within the budget of HK$10 million.

Extraordinary General Meeting
to approve the Share Option Schemes for the Employees
of Sunevision Holdings Limited and its Subsidiaries

To enable its employees to grow with the Sunevision Group and participate in its success, Sunevision Holdings Limited and its subsidiaries, iAdvantage Limited and Red-Dots Limited shall respectively adopt share option schemes. In accordance with the listing rules, the proposed schemes have to be approved by the shareholders of Sun Hung Kai Properties Limited at an Extraordinary General Meeting to be held on 4th May 2000 at 53rd Floor, Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong at 12:30 p.m..

By Order of the Board
LAI Ho-kai, Ernest
Secretary

Hong Kong, 16th March, 2000

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