For immediate release

AsiaMaterials.com Appoints Marketing Veteran Felix Chim as Vice President

(Hong Kong, March 1, 2001) AsiaMaterials.com, a portal bringing together people, markets and technology from around the world for the global building materials industry, and established under the Shui On Group, announces the appointment of Mr. Felix Chim as Vice President. Felix will be responsible for the formulation and implementation of marketing strategies and the establishment of international sales and distribution networks for AsiaMaterials.com.

Felix has more than 15 years of solid technical marketing and sales experience in building and construction materials, as well as in the China trade. "Felix brings with him invaluable market knowledge of, and expertise in the building materials industry critical to the fast expansion of AsiaMaterials.com in the market," said Mr. Wilfred Wong, President of AsiaMaterials.com.

Prior to joining AsiaMaterials.com, Felix worked 12 years for New York-based Saint-Gobain Technical Fabrics Group (previously Bay Mills Limited). During his stay in North America between 1989 and 1995, he worked in various capacities, including product manager and North America marketing and sales manager. In 1996, he was appointed General Manager - Hong Kong, overseeing regional sales activities in the Asia-Pacific region. Before joining Bay Mills, he was technical sales manager in the construction materials division of the Shui On Group. "I am delighted to be back with Shui On, and I am confident in this job of leading AsiaMaterials .com to meet the challenges of the Information Technology Era," Mr. Chim said.

Felix holds a Bachelor of Science degree (with honors) in Civil Engineering from the University of Leeds, UK and a Master's degree in Business Administration from the University of Ottawa, Canada.

AsiaMaterials.com, established in 2000, is a subsidiary of Shui On Construction and Materials Limited (SOCAM). SOCAM, a member of the Shui On Group founded by Mr Vincent H.S. Lo in 1971, has been listed on the Stock Exchange of Hong Kong since 1997. The Shui On Group has close to 30 years' experience in the construction and construction materials field.

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The full text of this release can be accessed through the Internet at: http://www.shuion.com and http://www.irasia.com/listco/hk/shuion
For further information, please contact:
Shui On Construction and Materials Limited
Ronny Pang
Tel: 2879 1860
Fax: 2787 4211
Email: corpcomm@shuion.com.hk