FOR IMMEDIATE RELEASE

(10 May 2010, Hong Kong) Yau Lee Construction Company Limited, wholly owned subsidiary of Yau Lee Holdings Limited (stock code: 406), is pleased to announce that the company has been awarded the Contract for the Redevelopment of Lower Ngau Tau Kok Estate Phase 1 (Contract No. 20080072) by the Hong Kong Housing Authority. The contract comprises mainly the construction of five nos. 41 to 48 storey non-standard Domestic Blocks (totalling 4,238 residential units), one 4-storey carpark, street front shops, pedestrian footbridge and all associated drainage and external works. The contract sum is approximately HK$1.24 billion. With a contract period of thirty-eight months, the project is expected to be completed by early September 2012.

Yau Lee Holdings Limited was listed on the Stock Exchange of Hong Kong in 1991. Its major businesses include building construction, maintenance, fitting out, plumbing and drainage contracting, building materials and precast products, hotel and property development, IT solutions and services, etc. Yau Lee Construction was established in 1958 and had developed to become one of Hong Kong's leading construction companies. Its management systems in quality, environmental protection and safety have been accredited with ISO 9001, ISO14000 and OHSAS18001 certifications respectively.

Please download the photo at http://ftp.jetum.com/ntk.jpg
Caption: "The Contract was signed by Mr. Wong Ip Kuen and Mr. Chan Chun Yuen, Director of Housing, representative of Hong Kong Housing Authority"

This press release is distributed by Jetum Communication Consultants Limited on behalf of Yau Lee Holdings Limited. For more details, please contact James Leung or Joanne Chen at 2566.4916

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