| To : Business Editor | For immediate release |
HONGKONG LAND IMPLEMENTS A SHARE REPURCHASE PROGRAMME
6th May 1997 - Hongkong Land Holdings Limited today announced that it was to implement a share repurchase programme. The Company intends to repurchase through the market up to five per cent of its issued share capital.
Managing Director, Mr Percy Weatherall, said, "This repurchase programme is designed to benefit all Shareholders by enhancing net asset value per share and earnings per share. The programme will utilize the powers previously granted by Shareholders, and will continue while market conditions remain favourable."
For further information, please contact:
| Hongkong Land Limited I C Durant |
Tel: (852) 2842 8300 (office) |
| Ludgate Asia Limited Martin Spurrier |
Tel: (852) 2543-5413 (office) |
This announcement can be accessed through the Internet at "http://www.irasia.com/listco/sg/hkland" and is also available through "First Call".
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