The Board of Directors of Shui On Construction and Materials Limited (the "Company") are pleased to announce that, with effect from 6 September 2000,

1. Mr Wong Ying Wai, Wilfred is redesignated from Independent Non-executive Director to Executive Director of the Company; and

2. Professor Michael John Enright is appointed as an Independent Non-executive Director of the Company.

Professor Enright is an expert on business strategy and international competition. He joined the faculty of the University of Hong Kong as the Sun Hung Kai Professor of Business Administration in 1996. He is also a director and member of the Advisory Board of The Competitiveness Institute. Professor Enright received his Master's degree in Business Administration and Doctor of Philosophy degree in Business Economics from the Harvard University.

By order of the Board
Lo Hong Sui, Vincent
Chairman

Hong Kong, 5 September 2000

* For identification purposes only