Hongkong Land's New Building Chater House Topped Out

HONG KONG, 10th December 2001 -- Hongkong Land today topped out its latest Grade A office development in Central, Chater House. The building is already substantially leased with over 75% of its retail space and 50% of its office space committed.

Situated in the heart of the Central Business District, Chater House is one of Hong Kong's most exciting new properties. Comprising a 23-level office tower above a 3-level retail podium and 3-level carpark basement, Chater House offers 483,500 sq ft (44,900 sq m) of net office space, with approximately 19,000 sq ft (1,800 sq m) per typical office floor. Major new flagship tenants will be JPMorgan and Armani.

Officiating at the ceremony were Nicholas Sallnow-Smith, Chief Executive of Hongkong Land; Martin Hadaway, Group Managing Director of Gammon Construction Limited; Michael Arnold, Executive Director (Projects) of Hongkong Land and Thomas Ho, Executive Director of Gammon Construction Limited.

The building, due for completion mid next year, is designed for the specific needs of financial institutions and banks. Chater House will also boast world-class telecommunications services, including wireless and fixed network infrastructure with broadband access, and total mobile phone coverage.

"Central is the most important commercial district in Hong Kong, and with Chater House, Hongkong Land has further enhanced its presence in the district with a portfolio of properties on a par with New York, London and Tokyo. This is an ideal building for tenants seeking the very best international standards of retail and office accommodation," said Mr. Sallnow-Smith.

Chater House links Hongkong Land's portfolio in the heart of Central with Exchange Square and Jardine House to the north of Gloucester Road. It is also linked to other major buildings in Central via Hongkong Land's refurbished covered bridge network. It is adjacent to Central MTR concourse entrances and Central Airport Railway Station, with its in-town flight check-in facilities and Airport Express shuttle link to Hong Kong International Airport.

For further information, please contact:

Hongkong Land
Helen Chiu
Tel: 2842 8291

Weber Shandwick
Ruth Fazakerley
Tel: 2543 5413

Notes to Editor

About Hongkong Land
Hongkong Land is a leading property and infrastructure investment, management and development group. The Group owns and manages some five million sq. ft of prime office and retail space in the heart of Hong Kong's Central business district. It is active primarily in Hong Kong, Mainland China and Singapore, and has a portfolio of property and infrastructure interests in other Asian cities. Hongkong Land employs some 700 people, has its primary share listing in London, and at end of 2000, reported shareholders' funds in excess of US$6 billion. Hongkong Land is a member of the Jardine Matheson Group.

(From left to right) Martin Hadaway, Group Managing Director of Gammon Construction Limited;
Michael Arnold, Executive Director (Projects) of Hongkong Land; Nicholas Sallnow-Smith,
Chief Executive of Hongkong Land and Thomas Ho, Executive Director of Gammon Construction Limited.