For Immediate Release

(15 November 2001, Hong Kong) Shui On Construction and Materials Limited (SOCAM) was awarded the "Best Practice Award 2001 for Value Added Training" today by the Best Practice Management Group, a knowledge-based organization dedicated to sharing best practice knowledge with businesses, government and non-profit making organizations in Asia. The award recognizes the best organizational practitioner that provides training to employees in its effort to add value to its constituencies.

"Shui On believes that our people are our most important asset. We strive to provide an environment whereby our people can excel, develop and grow with the company, and staff training is an important management function for developing our people's competence as well as commitment towards building up the company's long term competitiveness. We are glad that our commitment and our approach to staff training and development are recognised by the community. The award provides tremendous encouragement for our continued endeavour in the area," said Mrs Vivien Lowe, Executive Director of SOCAM, at the award presentation ceremony.

Shui On adopts an employee-oriented approach in human resources management and puts great emphasis on communication. Its outstanding performance in people management was also acknowledged in 1999 where Shui On Group was awarded the "Good People Management Award" by the Workplace Consultation Promotion Unit of the Labour Department.

About Shui On Group

SOCAM, a member of the Shui On Group, was listed on the Hong Kong Stock Exchange in 1997. It is a leading Hong Kong company engaged in five core businesses: Quality Housing Development in the Chinese Mainland, Cement, Construction, Construction Materials and Global Materials Trading. Apart from SOCAM, the Shui On Group has a separate, non-listed property arm with investments in Hong Kong, the Chinese Mainland and North America.

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