For Immediate Release

Shui On the first to obtain OHSAS 18001 certification in Hong Kong

Hong Kong, January 31, 2001 - Shui On Building Contractors Limited (SOBC) and Shui On Construction Company Limited (SOC) have become the first two construction companies awarded the Occupational Health and Safety Assessment Series (OHSAS) 18001 certification in Hong Kong by the Hong Kong Quality Assurance Agency. The certification not only testifies to Shui On's commitment to occupational health and safety, but also reflects its leadership in meeting international standards and requirements in the industry. SOBC was also the first building contractor to become ISO 9002 certified in Hong Kong back in 1992.

"It has always been our priority to constantly upgrade our standard of health, safety and environmental management at our workplace. We aim at reducing the number of industrial accidents to a minimum," said Mr. Louis Wong, Deputy Managing Director of Shui On Construction and Materials Limited. "We set clear health and safety targets and action plans at our annual Health, Safety and Environment Target Seminar, and everyone in Shui On is committed to achieving these targets."

Besides constantly reviewing work procedures and methods, Shui On conducts frequent training and promotions to raise employees' awareness of occupational health and safety issues and build a strong safety-conscious culture among its workers and subcontractors. Shui On has won numerous site safety awards over the years. Most recently, the company received the Gold Awards in Building Sites - for both of the Public and Private Sectors - as well as a number of other awards in the first "Safety Award Scheme on Good Housekeeping for the Construction Industry" in 2000.

Shui On Building Contractors Limited (SOBC) and Shui On Construction Company Limited (SOC) are wholly owned subsidiaries of the publicly listed Shui On Construction and Materials Limited. SOBC and SOC are on the NW2 and NW1 lists of building contractors of the Hong Kong Housing Authority, respectively. Both companies are also registered building contractors of the Buildings Department of the Hong Kong SAR Government specialising in residential, commercial and institutional construction projects and hold Group "C" licences for public building works of unlimited value.

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Ronny Pang       2879 1860
Corporate Communications Department
Shui On Group