(Hong Kong, 24 September 2001) Shui On Construction Company Limited (SOC), a wholly owned subsidiary of Shui On Construction & Materials Limited ("SOCAM", stock code: 983), has been awarded a HK$532 million contract by the Hong Kong Hospital Authority for the construction of Castle Peak Hospital Redevelopment Phase II Stage 2.

The project includes the construction of a five-storey block with a 5.3-metre deep basement, a three-storey block and the associated drainage and external works, as well as the demolition of the existing Blocks E&F, G&H and other miscellaneous structures. It is scheduled to be completed by December 2004. The construction of Castle Peak Hospital Redevelopment Phase I Stage 2 and Phase II Stage 1 was also undertaken by SOC.

SOC specializes in the construction of commercial and institutional projects for the government, major institutions and private developers. The company has obtained ISO 9002, ISO 14001 and Occupational Health and Safety Assessment Series (OHSAS) 18001 certification. SOCAM, a member of the Shui On Group, was listed on the Hong Kong Stock Exchange in 1997 and is engaged in construction, construction materials and property development in Hong Kong and the Chinese Mainland.

Apart from SOCAM, the Shui On Group has a separate, non-listed property arm with investments in Shanghai, Hong Kong, Beijing, Guangzhou and New York.