For immediate release

(Hong Kong, 8 July 1999) Shui On Building Contractors Ltd (SOBC) announces that Wo Ming Court Stage II in Tseung Kwan O has been completed smoothly and on schedule. It has already been awarded completion and occupation permits and is the first Concord block type estate completed and occupied under the Home Ownership Scheme.

According to Mr Louis Wong, Director and General Manager of SOBC, "The new Concord II type design has been adopted in the construction of Wo Ming Court Stage II. Both its fixtures and materials used are comparable to those used in residential projects developed by private developers. Even the lift lobbies, toilets and kitchens feature high design and fitting-out standards."

Located at Phase III of the Tsueng Kwan O new town, Wo Ming Court is adjacent to Hau Tak Estate. It is well supported by a facility network which comprises a kindergarten, a 3-storey shopping mall and a covered pedestrian walkway linking the various blocks. The two Concord blocks recently completed by SOBC are Blocks C and D. Composing of 31 storeys each, they offer a total of 360 flats. All of the flats are designed with 2 bedrooms, 1 sitting room and 1 dining room.

Shui On Building Contractors Limited is the first construction company in Hong Kong to have secured ISO 9002 accreditation. SOBC has also been awarded numerous safety awards including the Housing Authority's "Best Building Works Contractor" awards for 7 consecutive years. SOBC currently focuses on the construction of public housing projects.

SOBC is a member of the publicly held Shui On Construction and Materials Limited (SOCAM) under the Shui On Group. Shui On Construction and Materials Limited was listed on the Hong Kong Stock Exchange in 1997. Apart from SOCAM, the Shui On Group has a separate, non-listed property arm with investments in Hong Kong, the United States, Beijing, Guangzhou and, in particular, Shanghai where it has a land bank of 3.5 million square metres of buildable space in very centrally located sites.

Media Enquiries:

Ronny Pang	2879 1860
Corporate Communications Department
Shui On Building Contractors Limited