Kowloon Development Company Limited — Proxy Solicitation & Information Statement 2005

Nov 4, 2005

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九龍建業有限公司 KOWLOON DEVELOPMENT COMPANY LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 34)

~~PROXY FORM FOR USE AT THE EXTRAORDINARY GENERAL MEETING~~

I/We [(Note 1)]

of

being the registered holder(s) of [(Note 2)] shares of HK$0.10 each in the capital of KOWLOON DEVELOPMENT COMPANY LIMITED (“the Company ”), HEREBY APPOINT [(Note 3)]

shares of HK$0.10 each in the capital

of

or failing him, the Chairman of the meeting as my/our proxy to act for me/us at the Extraordinary General Meeting of the Company (or any adjournment thereof) to be held at Crystal Ballroom, Basement 3, Holiday Inn Golden Mile Hong Kong, 50 Nathan Road, Kowloon, Hong Kong on Monday, 21 November 2005 at 11:00 a.m. for the purpose of considering and, if thought fit, passing the resolution as set out in the notice convening the said meeting and at such meeting (or any adjournment thereof) to vote for me/us and in my/ our name(s) in respect of the said resolution as indicated below, or if no such indication is given, as my/our proxy thinks fit.

Ordinary Resolution	For(Note 4)	Against(Note 4)
To approve the Agreement dated 12 October 2005 and the transactions
contemplated thereunder as well as the paying-up and the conversion of
any non-voting convertible redeemable preference shares of Polytec Asset
Holdings Limited held by Marble King International Limited, and to
authorise the Directors to implement the same.
(The Ordinary Resolution as set out in the notice of Extraordinary General
Meeting.)

Dated this day of 2005

Signature [(Note 5)] :

Notes:

1. Full name(s) and address(es) to be inserted in BLOCK CAPITALS .

2. Please insert the number of shares of HK$0.10 each registered in your name(s). If no number is inserted, this form of proxy will be deemed to relate to all the shares of the Company registered in your name(s).

3. Please insert the full name and address of the proxy desired. IF NO NAME IS INSERTED, THE CHAIRMAN OF THE MEETING WILL ACT AS YOUR PROXY.

4. IMPORTANT: IF YOU WISH TO VOTE FOR THE RESOLUTION, TICK IN THE BOX MARKED “FOR”. IF YOU WISH TO VOTE AGAINST THE RESOLUTION, TICK IN THE BOX MARKED “AGAINST”. Failure to complete either box will entitle your proxy to cast his vote at his discretion.

5. This form of proxy must be signed by you or your attorney duly authorised in writing or, in the case of a corporation, must be either under its common seal or under the hand of an officer or attorney duly authorised.

6. In the case of joint holders, any one of such holders may attend and vote at the meeting either personally or by proxy, but if more than one of such joint holders are present at the meeting personally or by proxy, one of the said persons so present whose name stands first on the register of members in respect of the joint holding shall alone be entitled to vote in respect thereof.

7. To be valid, this form of proxy, together with any power of attorney or other authority (if any) under which it is signed or a notarially certified copy thereof, must be deposited at the office of the Company’s share registrar, Computershare Hong Kong Investor Services Limited, on 46th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong, not less than 48 hours before the time appointed for holding the meeting or any adjournment thereof.

8. Any member entitled to attend and vote at the meeting is entitled to appoint one or more proxies to attend and, on a poll, vote in his/her stead. A proxy need not be a member of the Company.

9. Completion and return of this form of proxy will not preclude you from attending and voting in person at the meeting or any adjournment thereof, should you so wish. In such event, this form of proxy shall be deemed to be revoked.

10. ANY ALTERATION MADE IN THIS FORM OF PROXY MUST BE INITIALLED BY THE PERSON WHO SIGNS IT.