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FOR IMMEDIATE RELEASE 16 September 2002

Remarks by Mr Keith Kerr, Managing Director of Swire Properties, at Cambridge House topping out ceremony on 16 September 2002

Comments on the HOS

On recent price war in residential market

On office market outlook

Is it true that there's more downward pressure on office rents in the Central district?

On retail occupancy

On office occupancy

Pre-letting and Marketing for Cambridge House

Is SPL moving more resources to development in Mainland China?

Redevelopment of the Mariner's Club

Is SPL interested in the site at 633 King's Road?

- End -

Source: SWIRE PACIFIC LTD
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