For Immediate Release

October 17, 2002

Sun Hung Kai Properties (SHKP) is the best property developer in the Asia-Pacific region for corporate governance, according to survey results published in the latest issue of the prestigious international financial magazine asiamoney.

asiamoney compiled a list of 197 listed companies spanning ten industry groups from the MSCI AC Asia Free ex-Japan index, and then asked research analysts at regional brokerages to rank them on three benchmarks: shareholders' rights, disclosure and transparency, and board and management discipline. According to the analysts' ratings, SHKP is the Best Property Developer for corporate governance in the Asia-Pacific region.

SHKP Vice Chairman & Managing Director Raymond Kwok was both pleased and encouraged by the survey results. He said that SHKP does everything possible to achieve the highest standards in management and effective corporate governance. The company also has effective systems in place to ensure accountability and transparency. SHKP disseminates important information in a timely fashion through a variety of different channels, keeping two-way communications open. Mr Kwok added that the board of directors and senior management actively encourage a corporate culture of good governance, and will continue to reinforce internal audit procedures to ensure that accurate and reliable financial information is disclosed. Mr Kwok also said that the recognition of this effort was gratifying for the company.

To make sure that investors, the media and the public have access to the latest information, SHKP uses various channels. It was one of the first companies in Hong Kong to release corporate information through its own Internet site. On the site, press releases are posted within ten minutes of issue, and interim and annual results are available approximately half an hour after approval by the directors. SHKP also holds a press conference and analysts' briefing immediately after results are announced, with senior management present to answer questions.

In addition to annual and interim reports and press releases, SHKP posts its other publications such as the SHKP Quarterly on its web site, to let everyone know the latest corporate news. The company also holds regular meetings with analysts and takes part in large-scale conferences and road shows, to give investors an in-depth understanding of its business progress.

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