Hongkong Land Consortium Wins Tender for the Marina Boulevard Site in Singapore

HAMILTON, Bermuda, 19 March, 2001 - Hongkong Land Holdings Limited today announced that the consortium comprising Hongkong Land, Cheung Kong (Holdings) and Keppel Land had been awarded the tender for the white site at Raffles Quay/Marina Boulevard in Singapore. The consortium announced on 13th March 2001 that it had tendered for the site, which is designated for commercial, residential and/or hotel development. The tender was awarded on 16th March 2001 at the price of S$461,816,800 for a total gross floor area of 147,770 m2. The land parcel was offered for sale on 99-year lease. Results of the tender were announced by the Urban Redevelopment Authority of Singapore through its official website www.URA.gov.sg.

Hongkong Land is a leading property and infrastructure investment, management and development group. The Company owns and manages some 5 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 employs some 600 people, has its primary share listing in London, and at end of 2000, reported shareholders' funds in excess of US$6 billion.

For further information, please contact:

Hongkong Land Limited

Nicholas Sallnow-Smith (852) 2842 8401

Golin/Harris Forrest

Adrian Overholser (852) 2501 7937

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