Tender Offer Result

Hong Kong Land Hldgs Ld
22 December 2000


HONGKONG LAND TENDER OFFER RESULT

22nd  December  2000  - Hongkong Land Holdings  Limited  today
announced that it had received valid tenders for approximately
131.5 million Shares under the Tender Offer, representing some
5%  of  the  issued share capital of the Company.  The  Tender
Offer  was announced on 23rd November 2000 and closed on  21st
December 2000.

Under the terms of the Tender Offer, the Strike Price has been
set  at  US$2.20 per Share.  All Shares validly tendered  have
been accepted on 22nd December 2000 and will be repurchased at
the Strike Price.

Nicholas Sallnow-Smith, Chief Executive of Hongkong Land, said,
'We  are  pleased  with the result of the Tender  Offer.   Our
shareholders  have taken the opportunity to  tender  over  130
million  of their shares at a premium price of almost  15%  to
the market level before the offer was announced.  We have made
good progress in improving the efficiency of the balance sheet
of  Hongkong Land whilst leaving the Company strongly financed
for future development.'

The  total  consideration payable by Hongkong Land  under  the
Tender  Offer  is approximately US$289 million.  The  proceeds
payable  will be sent on 3rd January 2001 to those  registered
shareholders  who validly tendered Shares in  accordance  with
the terms of the Tender Offer.

Hongkong Land owns and manages some 5 million sq. ft of  prime
office  and  retail space in the heart of Hong Kong's  Central
business  district.   The Group also manages  a  portfolio  of
property and infrastructure in Asia and is currently active in
the Hong Kong SAR, Mainland China, Singapore, the Philippines,
Vietnam and Indonesia.

                           
For further information, please contact:

Hongkong Land Limited           
Nicholas Sallnow-Smith                          (852) 2842 8401
                                                               
Matheson & Co. Limited                       (44) 020 7816 8135
Martin Henderson                                               
                                                               
Golin/Harris Forrest                                           
David Dodwell                                   (852) 2501 7902
                                                               
Golin/Harris Ludgate                         (44) 020 7253 2252
Richard Hews                                                   

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