For Immediate Release

Hong Kong, February 23, 2001 - The joint developers of The Parcville, Sun Hung Kai Properties Limited and New World Development Company Limited, announced that an additional 32 units will be available for public sale in view of the overwhelming response. The lowest priced unit is less than HK$1,000,000.

Eric Chow, General Manager of Sun Hung Kai Real Estate Agency, said, "We are pleased with the registrations for the internal sale. Confidence is gradually increasing among local property buyers, also the vast majority of purchasers are end-users, so we are confident that all 100 available units will be sold tonight."

The internal sale of The Parcville will be held at 7pm tonight. Registrations of public sale units will be accepted from next Monday to Wednesday (February 26 to 28). Ballot results will be announced on March 2, and flat selection will be held on March 3.

The Parcville show flats are located in the Sun Yuen Long Centre shopping mall, open for public viewing from 10:00am to 9:00pm. The developers will also provide a free shuttle bus service between The Parcville sales office and Tsuen Wan, Sheung Shui, Tuen Mun, Admiralty (Sat & Sun), and Yuen Long (Sat & Sun).

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