Re Fixed Rate Notes

Hongkong Land Hldgs Ld
23 September 2005



To: Business Editor                                        For immediate release

     HONGKONG LAND ISSUES SGD700 MILLION FIVE AND TEN-YEAR FIXED RATE NOTES

23rd September 2005 - Hongkong Land Holdings Limited today announced that its
wholly-owned subsidiary, The Hongkong Land Treasury Services (Singapore) Pte.
Ltd., has issued SGD325 million of 5-year notes and SGD375 million of 10-year
notes. The notes are guaranteed by The Hongkong Land Company, Limited. DBS Bank
Ltd. and The Hongkong and Shanghai Banking Corporation Limited acted as Joint
Lead Managers and Joint Bookrunners for the offering. UBS AG acted as
Co-Manager.

The 5-year and 10-year notes pay coupons of 3.01% per annum and 3.65% per annum
respectively and have an issue price of 100 per cent.

This is the first SGD debt securities offering by the Group. The offering was
over-subscribed and was increased to SGD700 million from the initially announced
size of SGD500 million. The notes were widely distributed to institutional
investors including asset management companies, banks, government agencies,
insurance companies and private banks. Proceeds of the offering will be used for
the Group's general corporate funding requirements.

The notes have been assigned a rating of 'A2' by Moody's Investors Service and
'BBB+' by Standard & Poor's Rating Services. Approval in-principle has been
received for the listing of the notes on the Singapore Exchange Securities
Trading Limited.

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. It also develops high quality property projects elsewhere in Asia.
Hongkong Land Limited manages these assets 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 Bermuda and Singapore. Hongkong Land is a member of the Jardine Matheson
Group.

                                    - end -

For further information, please contact:

Hongkong Land Limited
Geoffrey Brown                                                   (852) 2842 8138

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

GolinHarris
CT Hew                                                           (852) 2522 7928

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

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

These materials are not an offer of securities for sale in the United States.
The securities may not be offered or sold in the United States absent
registration or an exemption from registration. Any public offering of
securities to be made in the United States will be made by means of a prospectus
that may be obtained from the issuer or the selling security holder that will
contain detailed information about the company and management, as well as
financial statements.




                      This information is provided by RNS
            The company news service from the London Stock Exchange