For Immediate Release

April 22, 2003

Sun Hung Kai Properties (SHKP) announced today that the flow of shoppers in 12 of its major malls over the four-day Easter holidays resumed close to last year's level, and even higher in some cases. Grand Century Place in Mongkok saw more than 500,000 visitors, an 18% rise in traffic, and East Point City in Tseung Kwan O saw about 150,000, a 7% increase. New Town Plaza in Shatin recorded almost one million in all over the long weekend.

SHKP attributes this improved confidence among shoppers to the stringent cleaning and sterilizing programme that it currently has in place, such as the hourly cleaning of facilities that the public comes into contact with most often. The developer prepared nearly 100,000 anti-pneumonia packs for distribution with each $300 spent in the 12 malls, and shoppers collected most of them within the first two days. Given the overwhelming success of these measures, SHKP will be introducing more promotions to boost the flow of shoppers in its malls, and thus benefit tenants.

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