Privatisation of J I M

Jardine Matheson Hldgs Ld
27 June 2000

   Privatisation of Jardine International Motors Pursued by
                       Jardine Matheson

27th  June 2000 -- Jardine Matheson Holdings Limited ('Jardine
Matheson') today announced that it has requested that  Jardine
International  Motor Holdings Limited ('Jardine  International
Motors')  put forward a proposal (the 'Proposal') to  minority
shareholders   regarding   the   privatisation   of    Jardine
International Motors.

The  Proposal  involves a scheme to cancel all of  the  issued
shares held by the minority shareholders in exchange for  some
HK$4.295  per  share payable in cash.  The cancellation  price
represents  a premium of some 72% over the last closing  share
price  of Jardine International Motors on 23rd June 2000 prior
to suspension of its trading.  The cancellation price for each
share  comprises HK$4.10 from Jardine Matheson and USc2.50  by
way of a special dividend from Jardine International Motors.

The  announcement was made to the Stock Exchange of Hong  Kong
Limited,   where  Jardine  International  Motors  is   listed.
Jardine Matheson is currently interested in approximately  75%
of the issued share capital of Jardine International Motors.

The  privatisation proposal has been requested because Jardine
Matheson  believes that Jardine International Motors  will  be
able  to  operate more effectively without the complexity  and
cost  of  being  a  stand-alone  listed  company,  given   its
uncertain business outlook.  An agreement with DaimlerChrysler
is anticipated shortly, that will result in the end of Jardine
International Motors' exclusive wholesale distribution  rights
for  Mercedes-Benz  in Hong Kong and Macau,  although  Jardine
International  Motors  is  expected to  remain  the  exclusive
retailer  in  the  two  territories.   In  addition,   Jardine
International Motors also faces ongoing difficulties with  its
operations in the United Kingdom.

If  the  proposal is accepted, it is expected that the  scheme
will  become effective on or before 30th September 2000.   The
total  consideration  for  the  Proposal  payable  by  Jardine
Matheson  is  approximately  US$63  million,  which  will   be
financed from internal resources.

Jardine   Matheson  is  a  multinational  group   of   leading
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
Neil M McNamara                           Tel: [phone]

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

Forrest International Limited
Sue Gourlay                               Tel: [phone]

Ludgate Communications
Richard Hews                           Tel: [phone]