S E A Holdings Limited — Share Issue/Capital Change 2000

Dec 7, 2000

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from, or in reliance upon, the whole or any part of the contents of this announcement.

THE HONG KONG BUILDING AND LOAN AGENCY LIMITED

香港建屋貸款有限公司

(Incorporated in Hong Kong with limited liability)

COMPLIANCE WITH RULE 8.08 OF THE LISTING RULES

IN RELATION TO PUBLIC FLOAT OF THE SHARES

The Company has complied with Rule 8.08 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") in relation to the public float of the Company.

Reference is made to the joint announcement of The Hong Kong Building and Loan Agency Limited (the "Company"), Lippo Limited, Lippo China Resources Limited ("LCR") and HKCB Corporation Limited ("HKCB Corporation") dated 11th September, 2000 and the announcements of the Company dated 10th October, 2000 and 10th November, 2000 in relation to, among other things, the public float of the Company.

PUBLIC FLOAT

Following the closing of the offer made by HKCB Corporation, a wholly-owned subsidiary of LCR, for all the issued shares of the Company (other than those already owned by it or parties acting in concert with it), the public float of the Company was reduced to 29,100,962 shares, or approximately 12.9 per cent. of the issued share capital of the Company. In order to restore the public float of the Company, HKCB Corporation had disposed of a total of 3,153,000 shares of the Company on the market during the period from 28th November, 2000 to 6th December, 2000, representing approximately 1.4 per cent. of the issued share capital of the Company. On 6th December, 2000, HKCB Corporation further placed a total of 24,000,000 shares, representing approximately 10.7 per cent. of the issued share capital of the Company, to independent third parties not connected with the chief executive, directors or substantial shareholders of the Company or LCR or any of their respective subsidiaries or any of their respective associates.

Following the market disposal and the private placement, LCR and its associates are now interested in 168,746,038 shares, representing approximately 75 per cent. of the issued share capital of the Company. The public float of the Company is now 56,253,962 shares, representing approximately 25 per cent. of the issued share capital of the Company. Accordingly, there is sufficient public float in the shares of the Company as required under Rule 8.08 of the Listing Rules.

By Order of the Board

The Hong Kong Building and Loan Agency Limited

Marisa Mak

Secretary

Hong Kong, 6th December, 2000

"Please also refer to the published version of this announcement in the Hong Kong i-mail"