Kowloon Development Company Limited — Proxy Solicitation & Information Statement 2006

Mar 8, 2006

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The Bank of East Asia, Limited

(Incorporated in Hong Kong with limited liability in 1918) (Stock Code: 23)

Proxy Form (87th Annual General Meeting to be held on 7th April, 2006)

I/We[1 ]

of

being the registered holder(s) of

[2] shares of HK$2.50 each in The Bank of East Asia, Limited

hereby appoint the Chairman of the Meeting or[3]

of

as my/our proxy to attend and vote[4] for me/us and on my/our behalf at the 87th Annual General Meeting of the Bank and at any adjournment thereof to be held in the Ballroom, The Ritz-Carlton, 3 Connaught Road Central, Hong Kong on Friday, 7th April, 2006 at 11:00 a.m. and to vote for me/us as indicated below:

Items to bepassedpursuant to the Notice of Annual General Meeting	Items to bepassedpursuant to the Notice of Annual General Meeting	Items to bepassedpursuant to the Notice of Annual General Meeting	Items to bepassedpursuant to the Notice of Annual General Meeting	For	Against
1.To adopt the Audited Accounts and the Reports of the Directors and of theAuditors for theyear ended 31st December, 2005.
2.To declare a final dividend of HK$0.93 per share (with scrip option) for the yearended 31st December, 2005.
3.	To re-elect Directors:
	(a) Mr. Kenneth LO Chin-ming
	(b) Mr. Eric LI Fook-chuen
	(c) Mr. WONG Chung-hin
	(d) Dr. LEE Shau-kee
	(e) Dr. William MONG Man-wai
	(f)Mr. CHAN Kay-cheung
4.To re-appoint KPMG as Auditors of the Bank and authorise the Directors to fixtheir remuneration.
5.Special Resolution on item 5 (To amend the Articles of Association of the Bank).
6.Ordinary Resolution on item 6 (To grant a general mandate to the Directors toissue additional shares).
7.Ordinary Resolution on item 7 (To grant a general mandate to the Directors torepurchase the Bank’s own shares).
8.Ordinary Resolution on item 8 (To extend the general mandate granted to theDirectorspursuant to item 6).
Dated this		day of	2006.

Signature of Shareholder:

Full Name:

Notes:

1. Full name(s) and address(es) to be inserted in block capitals.

2. Please insert the number of shares registered in your name(s). If no number is inserted, this form will be deemed to relate to all the shares in The Bank of East Asia, Limited (the “Bank”) registered in your name(s).

3. If you wish to appoint a proxy other than the Chairman of the Meeting, please delete the words “the Chairman of the Meeting or” and insert the name and address of the person you wish to appoint in the space provided. A proxy need not be a member of the Bank. Completion and delivery of the proxy form will not preclude you from attending and voting in person at the meeting. In such event, the instrument appointing a proxy shall be deemed to be revoked.

4. Please indicate with a “ ” in the appropriate box beside each of the resolutions how you wish the proxy to vote on your behalf. In the absence of any such indication, the proxy will vote for or against the resolution or will abstain at his discretion.

5. In the case of joint Shareholders, the vote of the senior who tenders a vote, whether in person or by proxy, shall be accepted to the exclusion of the vote(s) of other joint holder(s) and for this purpose seniority shall be determined by the order in which the names stand in the Register of Members.

6. The form of proxy must be signed by you or your attorney duly authorised in writing. In the case of a corporation, this form must be executed under seal or under the hand of an officer or attorney duly authorised.

7. To be valid, this form of proxy together with the power of attorney or other authority (if any) under which it is signed or a notarially certified copy thereof must be deposited with Standard Registrars Limited, 26/F., Tesbury Centre, 28 Queen’s Road East, Hong Kong, not less than 48 hours before the time for holding the meeting or adjourned meeting.

8. Any alteration made to this form of proxy must be initialled by the person who signs it.