World-leading Brands Add Glamour to Alexandra House

HONG KONG, 29th June 2003 -- Hongkong Land's HK$210 million refurbishment of the Alexandra House retail podium is striking the right glamour note with the world's leading fashion houses. Prada and Yves Saint Laurent Rive Gauche are developing their new concept stores in the podium and several other luxury brands are about to follow.

The 50,000 sq ft new retail space in the refurbished podium has attracted much interest internationally due to its prime position. Completion is scheduled for October of this year.

Size does matter. The 9,300 sq ft two-floor Prada store will be the largest Prada store in Asia outside of Japan. Relocating from The Landmark will be the new 3,400 sq ft Yves Saint Laurent Rive Gauche store. Both stores are targeted to open in early 2004 and discerning customers will be spoilt for choice by the stores' full collections of ready-to-wear lines and accessories.

Norman Leung, Director of Retail of Hongkong Land, said, "The decision by Prada and Yves Saint Laurent Rive Gauche to open new stores in Alexandra House represents a gratifying and positive vote for Hong Kong's Central as a premier location for high-end fashion retailers and their boutique stores.

"Our Company and these two valuable brands have been long-time business partners. We are delighted that they continue to recognise and support Hongkong Land's market leadership in upscale retail property management," added Mr Leung.

The redesign and refurbishment of the Alexandra House podium forms part of Hongkong Land's multi-million dollar programme to upgrade its luxury retail centres around Central in Hong Kong. The growing number of international brands with stylish flagship stores in Central further enhances the area's already tantalising shopping experience for both locals and tourists. Upon completion, the shopping environment in the building will offer excellent public facilities; a compelling mix of famous international brand names; and popular specialty stores. The elegantly remodelled retail podium exterior will also give the building a stylish look that will enhance the other surrounding Hongkong Land retail destinations - The Landmark, Prince's Building, and Chater House.

Alexandra House will continue to be linked to other main buildings and key locations in Central through an elevated pedestrian walkway system. The building also has convenient access to all modes of transport, including both MTR and Airport Express stations.

For further information, please contact:
GolinHarris
Sue So		Tel: 9702 7882

This and other Company announcements can be accessed through the Internet at "www.hkland.com".

Notes To Editors

About Hongkong Land
Hongkong Land is a leading property and infrastructure investment, management and development group. The Company 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 the Hong Kong SAR, Mainland China and Singapore, and has a portfolio of property and infrastructure interests in other Asian cities. Hongkong Land has its primary share listing in London and the shares are also listed in Singapore and Bermuda. The Company is a member of the Jardine Matheson Group.