Hongkong Land Announces Appointment Of New Chief

Hamilton, Bermuda: 3 October 2006 - Hongkong Land today announced that Nicholas Sallnow-Smith is to retire as Chief Executive of the Company on 31st March 2007. He will be succeeded by Y K Pang.

Y K Pang has been with the Jardine Matheson Group since 1984, and is currently a director of Jardine Matheson Limited with responsibility for Jardine Motors Group.

He is also chairman of Jardine Matheson (China) where he supports the group's development strategy in the markets of mainland China; a position that he will retain in his new role with Hongkong Land.

Chairman of Hongkong Land, Simon Keswick, said, "I would like to thank Nick for his significant contribution to Hongkong Land. During his tenure as Chief Executive, Nick has overseen a number of significant developments in the Group's commercial and residential operations that have laid the foundation for future profit growth."

I would also like to welcome Y K Pang to his new role. He brings with him considerable commercial experience, particularly from Hong Kong and mainland China", Mr Keswick added.

Hongkong Land is a leading property investment, management and development group with a major portfolio in Hong Kong, where it owns and manages some five million sq.

ft of prime office and retail space in the heart of the Central business district. The Group also develops high quality commercial and residential property projects elsewhere in Asia and holds a 77% shareholding in Singapore-listed residential property developer, MCL Land. These assets are managed from Hong Kong by Hongkong Land Limited, which provides services to Group companies.

Hongkong Land Holdings Limited is incorporated in Bermuda with its primary share listing in London. The Company's shares are also listed in Bermuda and Singapore.

Hongkong Land is a member of the Jardine Matheson Group.