FOR IMMEDIATE RELEASE

21st July 2003

Swire Properties today (Monday, 21st July 2003) announced the sale of House 2 at 3 Coombe Road for $68.28 million, representing about $15,600 psf. House 2, the show house designed by Simon Jackson, is a semi-detached house of 4,378 sq ft, with a garden and terraces of 2,084 square feet.

"After selling this show house, we have only one house remaining, House 4, available for sale at 3 Coombe Road. Only one more family can enjoy a prestigious home in this quality development," said Mr Adrian To, Senior Development Manager of Swire Properties.

"Focusing on distinction, House 4 represents the Swire Homes concept of highest quality plus a point of difference. Standing on its own level, with the largest garden and terraces of 2,682 sq ft, this dwelling stands out as the most distinctive home in the entire development, not to mention its excellent quality." added Mr. To.

There are a few active negotiations in progress for House 4. Swire Properties' indicative price is of $78 million.

3 Coombe Road is the first and finest example of Swire Homes premier developments, for which location, design and management are all of the highest and most distinctive quality. The project offers two semi-detached houses and two detached houses. Each house provides about 4,400 square feet with a garden and terrace of over 2,000 square feet. FPD Savills was appointed as the lead sales agent for this project. Three houses were sold within three weeks of the launch of the development.

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