Bid Submission

Hongkong Land Hldgs Ld
07 July 2005


To: Business Editor For immediate release


HONGKONG LAND CONSORTIUM SUBMITS THE HIGHEST BID TO DEVELOP SINGAPORE'S BUSINESS
                            AND FINANCIAL CENTRE SITE

7th July 2005 - Hongkong Land Holdings Limited today announced that a consortium
comprising Cheung Kong (Holdings) Limited / Hutchison Whampoa Limited, Keppel
Land Limited and Hongkong Land Holdings Limited has been advised by the Urban
Redevelopment Authority in Singapore (URA) that it has submitted the highest bid
to develop Singapore's Business and Financial Centre (BFC) site.

The BFC site comprises a gross floor area of 438,000 sqm, 60% of which will be
office space. The consortium's commitment for the first phase of the development
of approximately 158,000 sqm, including option fees, would be in the order of
S$765 million (US$450 million) based on the bid price of S$4,101 psm (US$2,413
psm). The land parcel will be sold on a 99-year lease. A formal announcement of
the award of the tender is expected to be made by the URA shortly.

Further details of the consortium tender are set out in the attached press
release issued on behalf of the consortium.

Hongkong Land is a leading property investment, management and development group
with a major portfolio in Hong Kong where it owns and manages some five million
sq. ft of prime office and retail space in the heart of the Central business
district. Hongkong Land Limited manages these assets and the Group's other
property and infrastructure interests in Asia from Hong Kong by providing
services to Group companies. Hongkong Land Holdings Limited is incorporated in
Bermuda with its primary share listing in London. The Company's shares are also
listed in Singapore and Bermuda. Hongkong Land is a member of the Jardine
Matheson Group.

                                    - end -

For further information, please contact:

Hongkong Land Limited
Nicholas Sallnow-Smith                                           (852) 2842 8300

Matheson & Co Ltd
Martin Henderson                                               (44) 207 816 8135

GolinHarris
Kennes Young                                                     (852) 2501 7987

Weber Shandwick Square Mile
Richard Hews/Helen Thomas                                      (44) 207 067 0700

This and other Group announcements can be accessed through the Internet at
'www.hkland.com'.


Press Release
-------------

One Raffles Quay consortium bids for Business and Financial Centre site

SINGAPORE, 7 July 2005 - Cheung Kong (Holdings) Limited ('Cheung Kong'),
Hongkong Land Holdings Limited ('Hongkong Land') and Keppel Land Limited
('Keppel Land'), the developers of One Raffles Quay at Marina Boulevard have
submitted the highest bid for the Business and Financial Centre site at the New
Downtown.

With portfolios of successful world-class properties, the partners have the
experience and expertise to create a product advanced in design, construction
and technology, and well-poised to cater to the needs of the international
market.

For the tender submission, a new consortium was formed through three subsidiary
companies, consisting of Cheung Kong's Choicewide Group Limited, which is
co-owned with Hutchison Whampoa Limited, Hongkong Land's Sageland Pte Ltd and
Keppel Land's Bayfront Development Pte Ltd. All three subsidiary companies have
equal shares in the joint venture.

The New Downtown is earmarked to be Singapore's international business and
financial hub with office spaces, residential and convention amenities, shops
and F&B outlets as well as arts, cultural and entertainment venues around Marina
Bay.

The strategic location of this 3.55-ha site at the New Downtown opens up
to prime views of Marina Bay and the proposed Central Open Space.
The upcoming Integrated Resort in the vicinity will further complement this
project and enhance its position as a global business and financial hub.

When completed, the development will be linked via its own underground
pedestrian network to the Landmark MRT station of the Downtown Extension of the
Circle Line as well as the Raffles Place MRT interchange, which serves the
North-South and East-West lines. It will also add to the critical mass of three
existing New Downtown projects including One Raffles Quay, a 1.3 million sf
premier office development by the same partners.

                                    - End -

About Cheung Kong (Holdings) Limited

Cheung Kong (Holdings) Limited is a property development and strategic
investment company based in Hong Kong. It is one of the largest property
developers in Hong Kong, having developed about one in twelve private residences
in the territory. The company also owns a large portfolio of commercial,
residential and industrial premises in Hong Kong, and is a major developer of
the Central District.

In Singapore, Cheung Kong's residential property portfolio includes Costa del
Sol, a prestigious east coast marine-themed development and Cairnhill Crest, an
oasis of tranquility ensconced in prime district 9. In terms of commercial
property, the Company developed One Raffles Quay in its first joint venture with
Keppel Land and Hongkong Land in Singapore. Cheung Kong is a substantial
unit holder in Fortune REIT - which holds eleven retail malls in Hong Kong and was
listed on The Singapore Exchange in August 2003 - with a 27.42% stake.


About Hutchison Whampoa Limited

Hutchison Whampoa Limited ('HWL') is a leading international corporation
committed to innovation and technology with businesses spanning the globe. Its
diverse array of holdings ranges from some of the world's biggest retailers to
property development and infrastructure to the most technologically-advanced and
marketing-savvy telecommunications operators.

HWL reports consolidated turnover of approximately HK$179 billion (US$23,000
million) for the year ended 31 December 2004. With operations in 52 countries
and about 200,000 employees worldwide, Hutchison has five core businesses -
ports and related services, telecommunications, property and hotels, retail and
manufacturing, and energy and infrastructure. Its flagship companies include
Hutchison Port Holdings, Hutchison Telecom, Hutchison Whampoa Properties, A.S.
Watson, and Cheung Kong Infrastructure.

ABOUT HONGKONG LAND
Hongkong Land is a leading property investment, management and development group
with a major portfolio in Hong Kong where it owns and manages some five million
sq. ft of prime office and retail space in the heart of the Central business
district. Hongkong Land Limited manages these assets and the group's other
property and infrastructure interests in Asia from Hong Kong by providing
services to group companies.

Hongkong Land Holdings Limited is incorporated in Bermuda with its primary share
listing in London. The company's shares are also listed in Singapore and
Bermuda. Hongkong Land is a member of the Jardine Matheson Group.

ABOUT KEPPEL LAND
Keppel Land is one of the largest property groups listed on the Singapore
Exchange, and has a diversified portfolio in thirteen countries in Asia.
The Company's portfolio of premier properties includes office towers,
residential properties, integrated developments comprising hotels, resorts and
retail complexes as well as entire townships. Keppel Land is a major landlord in
the Central Business District with 10 office towers featuring prominently in the
city landscape.


For further information, please contact

For Cheung Kong (Holdings)
Ms Wendy Tong Barnes
Chief Corporate Affairs Officer
Tel : [phone]
Fax : [phone]
Email : [e-mail]

Hutchison Whampoa Limited
Ms Laura Cheung
General Manager - Group Corporate Affairs
Tel: [phone]
Fax: [phone] 
Email : [e-mail]

For Hongkong Land
Ms. Angela Yeung
Head of Communications
Tel : [phone]
Fax : [phone]
Email : [e-mail]

For Keppel Land
Ms Teri Liew
Senior Manager
Group Corporate Communications, Keppel Corporation Limited
Tel : [phone] / Mobile : [phone]
Email : [e-mail]

This press release is also available on www.hkland.com, www.kepcorp.com and
www.keppelland.com.sg.





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