For immediate release

28th August, 2001

Swire Pacific Limited is pleased to announce the successful conclusion of a HKD5,000 million revolving credit / term loan facility (the "Facility") for Swire Finance Limited, a wholly owned subsidiary of Swire Pacific Limited. The Facility is jointly arranged by BOCI Capital Limited, The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank (the "Coordinating Arrangers"). Due to strong response from the banking community, the facility was over subscribed and there will be no general syndication.

The Facility is fully guaranteed by Swire Pacific Limited and will be available for drawdown on a revolving basis until thirty six months after the date of the Facility Agreement, which will then be converted into a term loan facility. The proceeds of the Facility will be used for general corporate funding requirements of the Swire Pacific group.

The composition of the bank syndicate for the Facility is as follows:

                                           Final Allocated Underwriting
                                           Commitment & Final Allocated
Institution                                    Participating Amount
-----------                                ----------------------------
Senior Lead Managers
--------------------
Bank of China, Hong Kong Branch                   HK$600,000,000
The Hongkong and Shanghai
  Banking Corporation Limited                     HK$600,000,000
Standard Chartered Bank                           HK$600,000,000

Arrangers & Lead Managers
-------------------------
The Bank of Tokyo-Mitsubishi, Ltd.                HK$400,000,000
Commerz (East Asia) Limited                       HK$400,000,000
Hang Seng Bank Limited                            HK$400,000,000
Industrial and Commercial
  Bank of China (Asia) Limited                    HK$400,000,000
Mizuho Financial Group (DKB , IBJ)                HK$400,000,000
Sumitomo Mitsui Banking Corporation               HK$400,000,000
UFJ Group (Sanwa Bank / Tokai Bank)               HK$400,000,000
WestLB                                            HK$400,000,000
                                                 ----------------
                                    Total        HK$5,000,000,000
                                                 ----------------

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