50% Stake in Chubb China Sold

Jardine Matheson Hldgs Ld
25 April 2000

                            
JARDINE MATHESON GROUP SELLS ITS 50% STAKE IN CHUBB CHINA

25th  April  2000  -  Jardine Matheson  Holdings  Limited
announced today that its wholly-owned subsidiary, Jardine
Pacific  Holdings Limited, had sold its 50%  interest  in
Chubb  China  Holdings Ltd ('Chubb China') to  its  other
shareholder, Williams plc, for US$70.5 million.

Chubb  China was established in 1986 and has  grown  over
the  years  to  become a leading supplier, installer  and
maintainer  of  security and fire protection  systems  in
Hong Kong, China and Taiwan.

In  order to satisfy the strategic requirements  of  both
parties,   the   decision  was  taken  to  realise   this
investment  so  that the proceeds could be redeployed  in
developing  other  areas of the Group.   The  transaction
will  result  in a profit on sale of US$58  million.   In
1999 Chubb China made a contribution to Jardine Pacific's
earnings of US$6 million.

Commenting  on  the  sale,  Percy  Weatherall,   Managing
Director  of  Jardine Matheson said,  'Our  strategy  for
Jardine   Pacific  has  been  to  concentrate  on   fewer
businesses  with good growth potential where  we  have  a
significant  management role.  We have  had  a  long  and
successful  involvement with Chubb China,  and  the  sale
price  reflects  the  considerable value  that  has  been
created.'

Jardine Matheson is a multinational group of eight  prime
businesses focused primarily on the Asia-Pacific  Region.
Its   operations  employ  some  150,000  people  and  its
activities  are  leaders  in  the  fields  of   financial
services,  supermarkets, consumer marketing,  engineering
and  construction,  motor trading, property  and  hotels.
The Group is building its core businesses largely in Asia-
Pacific with the goal of enhancing shareholder value  for
the long term.

For further information, please contact:

Jardine Matheson Limited
Anthony Nightingale         Tel:  [phone]  (office)

Matheson & Co.Limited
Martin Henderson           Tel:  [phone] (office)

Ludgate Communications
Richard Hews               Tel:  [phone] (office)