Substantial shareholder

Hong Kong Land Hldgs Ld
12 April 2001

HONGKONG LAND HOLDINGS LIMITED ('HKLH')

SUBSTANTIAL SHAREHOLDER

On 12 April 2001, Jardine Strategic Holdings Limited ('JSH')
interest in HKLH increased from 38.97% to 39.01% as a result of
acquisition of shares in HKLH by JSH. These interests are made up as follows:-

                                                            No of shares   %
JSH beneficial interest                                      890,547,564  36.19
Hongkong Land Company Limited (wholly-owned subsidiary of     69,561,004   2.83
HKLH)
Total Holding                                                960,108,568  39.01

In addition, by virtue of its interest in JSH, Jardine Matheson Holdings
Limited's deemed interest in the same number of shares increased.

L E L A RICHARD, Matheson & Co., Limited,
London Secretaries of Hongkong Land Holdings Limited

12 APRIL 2001