Re Syndicated Loan

Hong Kong Land Hldgs Ld
8 March 2001


                               
    HONGKONG LAND SIGNS HK$6.38 BILLION SYNDICATED LOAN AND
        RECEIVED A3/A- RATINGS FROM TOP RATING AGENCIES

8th   March  2001  -  Hongkong  Land  Holdings  Limited  today
announced  that a HK$6.38 billion (US$820 million)  syndicated
loan  facility  has  been put in place.  The  facility  is  to
finance the Group's medium-term investment expenditure and  to
refinance  a  portion of the Group's existing loan facilities.
Due   to  the  overwhelming  response,  the  loan  amount  was
increased from HK$3 billion to HK$6.38 billion.  A total of 25
financial institutions participated.

The facility consists of two tranches and includes a revolving
feature  in  the  first  three years.  The  first  tranche  of
HK$4.25  billion has a maturity of 5 years, with  an  interest
margin  of       47  basis points per annum over  HIBOR.   The
second  tranche of HK$2.13 billion has a         7-year  tenor
and  the  interest margin is 55 basis points  per  annum  over
HIBOR.

The facility, which has been entered into by The Hongkong Land
Property  Company  Limited,  a  wholly-owned  subsidiary,   is
unsecured.

Commenting  on the completion of the syndication, Mr  Nicholas
Sallnow-Smith, Chief Executive of Hongkong Land, said, 'We are
delighted  with  the overwhelming response to the  syndication
from  so many leading banks.  The loan will provide facilities
at  attractive rates for Hongkong Land's investment programme,
and  will  significantly  extend  the  Group's  debt  maturity
profile.'

Along  with  the completion of the syndication, Hongkong  Land
today received for the first time an 'A3' and 'A-' rating from
Moody's     and     Standard     &    Poor's     respectively.
Mr  Sallnow-Smith  commented that achieving  investment  grade
ratings will provide Hongkong Land with the flexibility to tap
non-bank debt markets to diversify its funding sources.

Hongkong   Land  is  a  leading  property  and  infrastructure
investment,  management and development  group.   The  Company
owns  and  manages some 5 million sq. ft of prime  office  and
retail  space  in  the heart of Hong Kong's  Central  business
district.   It  is  active primarily in  the  Hong  Kong  SAR,
Mainland  China and Singapore, and has a portfolio of property
and  infrastructure interests in other Asian cities.  Hongkong
Land employs some 600 people, has its primary share listing in
London,  and at end of 2000, reported shareholders'  funds  in
excess of US$6 billion.



For further information, please contact:

Hongkong Land Limited
Kuah Boon Wee                                  (852) 2842 8101

Golin/Harris Forrest
Adrian Overholser                              (852) 2501 7937

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