Re: ADR Facility

Hongkong Land Hldgs Ld
13 April 2004



To: Business Editor                                       For immediate release


               Termination of American Depositary Receipt Facility


13th April 2004 - Hongkong Land Holdings Limited today announced that it has
given notice to The Bank of New York (the 'Depositary') to terminate the
Company's American Depositary Receipt ('ADR') facility. It is expected that the
facility will terminate with effect from the close of trading on 28th May 2004
(the 'Termination Date').

The Depositary will issue termination notices to ADR holders at least one month
prior to the Termination Date. Under the termination provisions set out in the
Deposit Agreement with the Depositary, holders of the Company's ADRs are
entitled to return their ADRs at any time after receipt of the notice of
termination from the Depositary and during the 12 month period following the
Termination Date. ADRs submitted during that period will be exchanged for the
number of the Company's ordinary shares represented by such ADRs. Each ADR
represents five ordinary shares.

Any ADRs outstanding after the Termination Date may not be transferred nor
receive any further distributions of dividends, and the Depositary shall not
give out any further notices or perform any further acts under the Deposit
Agreement. The Depositary will, however, retain and hold any dividends or other
distributions for the benefit of the ADR holders and deliver such dividends or
other distributions to the ADR holders upon surrender of the ADRs in exchange
for the underlying entitlement to ordinary shares. Under the terms of the
Deposit Agreement, any ordinary shares held by the Depositary on the date 12
months after the Termination Date (expected to be 28th May 2005) will be sold
and the funds retained for the benefit of the holders of the respective ADRs.

For the avoidance of doubt, the final dividend in respect of 2003, payable to
registered shareholders on 12th May 2004, will be paid to ADR holders prior to
the Termination Date becoming effective.

Holders of ADRs should contact The Bank of New York at [phone] for
further information.

Hongkong Land is a leading property investment, management and development group
with a major portfolio in Hong Kong where it owns and manages some five million
sq. ft of prime office and retail space in the heart of the Central business
district.

Hongkong Land Limited manages these assets and the Group's other property and
infrastructure interests in Asia from Hong Kong by providing services to Group
companies.

Hongkong Land Holdings Limited is incorporated in Bermuda with its primary share
listing in London. The Company's shares are also listed in Singapore and Bermuda
. Hongkong Land is a member of the Jardine Matheson Group.

                                    - end -

For further information, please contact:

Hongkong Land Limited
Neil M McNamara                                                  (852) 2843 8227

Matheson & Co Limited
Martin Henderson                                               (44) 20 7816 8135

Golin/Harris Forrest
C T Hew                                                          (852) 2501 7963

Weber Shandwick Square Mile
Katie Hunt/ Helen Thomas                                       (44) 20 7067 0700

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




                      This information is provided by RNS
            The company news service from the London Stock Exchange
 END
MSCBXLFFZZBFBBQ