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First Pacific Cptl (78JZ)

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Thursday 27 December, 2001

First Pacific Cptl

Fthr: Complete Sale of Darya

First Pacific Capital (1997) Ld
27 December 2001


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.


                        FIRST PACIFIC COMPANY LIMITED

               (Incorporated in Bermuda with limited liability)


                    COMPLETION OF DISPOSAL OF DARYA-VARIA

Completion of the disposal by First Pacific of its entire 89.5 per cent
interest in Darya-Varia to Far East Drug took place on 21 December, 2001. First
Pacific has received full payment of the US$35 million (approximately HK$273
million) cash consideration.


Reference is made to the announcement of First Pacific Company Limited ('First
Pacific') dated 6 December, 2001 relating to the disposal of First Pacific's
entire 89.5 per cent interest in the issued share capital of PT Darya-Varia
Laboratoria Tbk ('Darya-Varia').


Completion of the disposal to Far East Drug (B.V.I.) Co. Ltd. ('Far East
Drug') took place on 21 December, 2001. First Pacific has received full
payment of the US$35 million (approximately HK$273 million) cash
consideration. As previously announced on 6 December, 2001, proceeds from the
disposal will be partially applied towards the repayment of debt and partially
used for general corporate purposes.


                                        By Order of the Board

                                        FIRST PACIFIC COMPANY LIMITED

                                        Ronald A. Brown

                                        Executive Director and Company
                                        Secretary


Hong Kong, 21 December, 2001


Please also refer to the published version of this announcement in the South
China Morning Post (English) and Hong Kong Economic Journal (Chinese).


                                                                                
                                                                                
                                                                                
      

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