For Immediate Release

8 December 2005

A spokesperson for Sun Hung Kai Properties (SHKP) said that the company's collaboration with CapitaLand in a mixed retail and residential development at Orchard Road / Paterson Road (Orchard Turn) in Singapore presents a unique business opportunity, given the site's most sought-after location and the strength of CapitaLand, the largest property developer in Southeast Asia. The developers are committed to building an iconic retail mall on the last prime site along Orchard Road that will drastically change the retail scene in this major shopping area.

The spokesperson added that SHKP's strategy of concentrating on property projects in Hong Kong and mainland China for sale and investment remains unchanged, as the Singapore project will be a relatively minor component of SHKP's total investment property portfolio.

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