(Hong Kong, 5 September 2000) Shui On Construction and Materials Limited (“SOCAM”) is pleased to announce the appointment of Professor Michael Enright as independent non-executive director of the Company.

“We are pleased to have Professor Enright joined our Board of Directors. He will bring to the Company his strategic development expertise and his knowledge of the international market. This will be most helpful to SOCAM in formulating business strategies and understanding economic trends and developments,” said Mr Vincent H S Lo, Chairman of SOCAM.

Professor Michael Enright, an expert on business strategy and international competition, joined the faculty of the University of Hong Kong as the Sun Hung Kai Professor of Business Administration in 1996, where he co-directs the Asia-Pacific Competitiveness Programme of the Hong Kong Institute for Economics and Business Strategy. Before coming to Hong Kong, Professor Enright spent six years as a professor at the Harvard Business School.

Professor Enright's research and teaching has focused on international competitiveness, business strategy, and economic development. He has directed or co-directed major reviews of economies on five continents and has co-authored five books (including “The Hong Kong Advantage” with co-authors Edith Scott and David Dodwell, Oxford University Press, 1997). Professor Enright's work has also appeared in the “Harvard Business Review”, “WorldLink”, “The Far Eastern Economic Review”, “Asian Business”, the “South China Morning Post”, the “Business Times”, and a variety of other publications.

Professor Enright has consulted extensively with enterprises, government agencies, and multilateral organizations around the world on business strategy, international competitiveness, and economic development and has appeared in thirty countries as an invited speaker and lecturer. He is a Director and member of the Advisory Board of The Competitiveness Institute, a global institute of professionals devoted to competitiveness and economic development.

Professor Enright received his A.B., his M.B.A., and his Ph.D. (in Business Economics) all from Harvard University.

Shui On Construction and Materials Limited, a member of the Shui On Group, was listed on the Hong Kong Stock Exchange in 1997. Apart from SOCAM, the Shui On Group has a separate, non-listed property arm with investments in Hong Kong, the United States, Beijing, Guangzhou and, in particular, Shanghai where it has a land bank of 3.5 million square metres of buildable space in very centrally located sites.