For Immediate Release

October 29, 2001

Park Central is a joint development by Sun Hung Kai Properties, Henderson Land, the Chinachem Group and Nan Fung Development. The property is in the heart of Tseung Kwan O, within easy reach of the Tseung Kwan O MTR station that will go into service by the end of next year. With the surrounding comprehensive school network and its vast shopping arcade, the development is expected to become the new focus of the market. To highlight Park Central's numerous value-added features, the developers have introduced a Value-added Service scheme to promote the property.

SUNeVision Executive Director Alfred So and Sun Hung Kai Real Estate Agency General Manager Eric Chow, met the media today (October 29) and explained details of the scheme.

The scheme is being run by the developers and propertystreet.net, to provide excellent customer service to Park Central buyers and encourage property agents to offer full information about the development and give professional advice on purchases there. The scheme will provide a channel of communication for Park Central buyers. After registering, potential buyers can fill in a questionnaire on www.propertystreet.net or www.shkp.com.hk, evaluating the quality of service and level of professional knowledge demonstrated by the property agent that helped with the registration. Filling in the questionnaire and buying a unit in Park Central entitle the buyer to a HK$1,000 cash. First priority in selecting 30 units in Park Central will go to the property agency that draws the most questionnaires with the best ranking for its services. In addition, the agency that sells the most units in Park Central will get a HK$500,000 bonus.

Eric Chow said, "The Government previously increased the quota for Home Starter Loan and Home Purchase Loan scheme applicants and interest rates have fallen nine times of late. The effect is now becoming more apparent, and many people feel that this is the right time to buy a flat. Park Central is in a premium area of the territory and right by the Tseung Kwan O MTR station that will be complete shortly. The development has significant growth potential, and we expect it will be very popular among buyers."

Park Central is being developed in two phases, with five residential blocks in the first phase. The development, scheduled for handover by the end of 2002, provides units ranging from more than 500 to over 900 square feet, with two or three bedrooms and one or two bathrooms. The grand 250,000 square-foot club house with comprehensive facilities and green lush garden will definitely provide a comfortable lifestyle for residents. The property is very close to the soon-to-open Tseung Kwan O MTR station, and it will take only 10 minutes ride to Hong Kong Island, 17 minutes to Causeway Bay, 24 minutes to Central, and 25 minutes to Tsim Sha Tsui. Show flats are now open to the public from 10:00 am to 9:00 pm, and there is a shuttle bus service covering Tsuen Wan, Lam Tin, Mongkok, Shatin, Hunghom, Admiralty, Shum Shui Po, Shau Ki Wan and Tseung Kwan O.

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