For Immediate Release

August 15, 2002

Sun Hung Kai Properties (SHKP) announced the appointment of Paul Wong as Group Head - Financial Control and Business Development today (August 15). Mr Wong will also participate in the executive management of member companies such as Hung Kai Finance, Honour Securities and Sun Hung Kai Properties Insurance.

Mr Wong has had extensive experience in his career, participating in the senior management of several multinational banks and electronics companies. For almost 20 years, Mr Wong held various senior management positions in commercial banking, encompassing the fields of finance, information technology and business development. Prior to joining SHKP, he was Head of Distribution Channels for DBS Bank in Singapore, and before that Senior General Manager - Mortgage Banking for Dao Heng Bank. He is a fellow of the Chartered Association of Certified Accountants in the UK and an Associate of the Hong Kong Society of Accountants.

SHKP Vice Chairman & Managing Director Raymond Kwok said, "We are extremely pleased to welcome Paul to our team as Group Head of Financial Control and Business Development. Over our decades in Hong Kong, SHKP has always followed a prudent financial strategy to fuel steady growth in different business areas. Paul will continue this strategy, but at the same time explore new business opportunities. We are confident that his extensive experience, creativity and vision will make a real contribution."

Speaking of his new position, Mr Wong said, "I am very excited about joining SHKP, the premier developer in Hong Kong. With comprehensive financial controls and business development planning, I'm sure that SHKP will build upon its well-established foundations and continue growing steadily, contributing to Hong Kong's prosperity."

SHKP appoints Paul Wong As Group Head - Financial Control and Business Development

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