Holding in Company

Hong Kong Land Hldgs Ld
16 January 2001


HONGKONG LAND HOLDINGS LIMITED ('HKLH')
DISCLOSURE OF INTERESTS - SUBSUBSTANTIAL SHAREHOLDER
On 15 January 2001, Hongkong Land Holdings Limited ('HKLH') received the
following notifications from Credit Agricole Lazard Financial Products Bank
('CAL FP Bank'):

1     On 22 December 2000, CAL FP Bank was interested in 74,908,960 ordinary
      shares of HKLH (the 'Shares') representing 3.04% of the issued share
      capital of HKLH.
      The notifiable interest of CAL FP Bank arose on 22 December 2000 as a
      result of a reduction in HKLH's issued share capital following a tender
      offer which increased the proportional holding of shares by CAL FP Bank.
      CAL FP Bank also advised HKLH that the following entities were deemed to
      be interested in the shares beneficially owned by it: Credit Agricole
      Lazard Financial Products Limited, Caisse Nationale de Credit Agricole S
      A, Three Houses Investment Company Limited, Lazard Bank Limited, Lazard
      Freres S A and Lazard Freres & CO LLC.

2     On 8 January 2001, CAL FP Bank's interest in the ordinary shares of HKLH
      (the 'Shares') which it beneficially owned had fallen below the 3%
      notifiable level.
      The cessation of notifiable interest was a result of market transactions
      by CAL FP Bank.
      CAL FP Bank also advised HKLH that the following entities who had deemed
      interests in the Shares held by it had also ceased to have notifiable
      interests in the Shares: Credit Agricole Lazard Financial Products
      Limited, Caisse Nationale de Credit Agricole S A, Three Houses Investment
      Company Limited, Lazard Bank Limited, Lazard Freres S A and Lazard Freres
      & CO LLC.
L E L A RICHARD, Matheson & Co., Limited,
London Secretaries of Hongkong Land Holdings Limited

16 JANUARY 2001