HKC (HOLDINGS) Acquires Second Piece of Prime Land in Shenyang To Build Offices and Commercial Buildings

HKC (HOLDINGS) Acquires Second Piece of Prime Land in Shenyang To Build Offices and Commercial Buildings

November 29, 2007

    HONG KONG, Nov. 29 /Xinhua-PRNewswire/ -- HKC
(Holdings) Limited ("HKC (HOLDINGS)" or the
"Group") (HKEx: 190) announced that the Group has
successfully bid on a parcel of land at Nanjing North
Street, Heping District, Shenyang City for RMB170 million
(approximately HK$178.5 million) at a public auction
through an auctioneer appointed by the People's High Court
of Liaoning Province, the PRC.

    The total site area of the land is 7,105 sq. m. with
approved design gross floor area of about 92,000 square
meters above ground. The average land price of the gross
floor area above ground is about RMB1,848 per sq. m.  The
Group also intends to build a total of 10,000 sq. m. floor
area below ground.  The land is located at the city center
of Shenyang above a subway station under construction which
currently is planned to commence operation in 2009.  The
Land is also beside Taiyuan Street, the pedestrian shopping
street of Shenyang.   

    Shenyang is the economic, cultural, communication,
trade and commercial hub in Northeastern China as well as a
major industrial and cultural city with historical
importance. At the centre of both the Northeast Asian
economic ring and the Bohai economic ring, the city has
been growing fast. As the Shenyang economy continues to
expand, HKC (HOLDINGS) expects the property market in the
city to keep prospering in the next few years and beyond.

    Mr. Eric Oei, Managing Director and Chief Executive
Officer of HKC (HOLDINGS), commented, "I am very
pleased with this latest successful bid we managed so soon
after the acquisition of another piece of quality land in
the same region in September. This latest acquisition at a
very reasonable price is testament to the foresight and
shrewd judgment of the Group's land acquisition team.
Shenyang is one of the prime regions the Group has
identified for its property development business. With an
extensive business network and leveraging the support of
Cerberus, our second largest shareholder and expert in
property investment, we will continue to look for and
acquire high-potential site to enrich our land bank in
China, especially prime land in Shanghai, Tianjin,
Shenyang, Hangzhou, and Qingdao."

    About HKC (Holdings) Limited (stock code: 190)

    HKC (Holdings) Limited is principally engaged in
property development and investment activities with a
primary focus in the PRC. It is also one of the leading
providers of alternative energy in the PRC. In October
2007, Cerberus Asia Capital Management, LLC has become the
Group's second largest shareholder.

    For more information, please visit the Group's website:
http://www.hkcholdings.com .

    For media enquiries:

     Vicky Lee
     Strategic Financial Relations Limited
     Tel:   [phone]
     Email: [e-mail]

     Doris Chan
     Strategic Financial Relations Limited
     Tel:   [phone]
     Email: [e-mail]

     Germain Lam
     Strategic Financial Relations Limited
     Tel:   [phone]
     Email: [e-mail]