(Hong Kong, 5 August, 2002) Shui On Construction & Materials Limited ("SOCAM", stock code: 983) has been awarded two new contracts totalling HK$785.48 million. These include a HK$571.98 million construction contract awarded to its subsidiary, Shui On Building Contractors Limited (SOBC), by the Architectural Services Department for Phase I C of the Hong Kong Science Park in Pak Shek Kok, and a HK$173.5 million construction contract awarded to Shui On Construction Company Limited (SOC) by the Hong Kong Housing Authority for the housing development at Shatin Area 2B.

The contract for Phase I C of the Hong Kong Science Park includes the construction of two seven-storey office buildings for research and development activities (Building 7 and 8) with a common basement for carparking and plant rooms, a services tunnel adjoining other buildings and the associated drainage and external works.

The project for the housing development at Shatin Area 2B includes the construction of one 41-storey New Harmony 1 Block (Option 6), one single-storey L-shaped carpark building and all associated underground drainage and external works. It is scheduled to be completed by November 2004.

SOBC, a leading building contractor in public housing construction in Hong Kong, has been selected by the Hong Kong Housing Authority as one of five Premier League contractors. Recently, the company has also been included in the Works Bureau's List of Approved Specialist Contractors for Public Works under the category of "Repair and Restoration of Historic Buildings." SOC has extensive experience in the construction of commercial and institutional projects for the government, major institutions and private developers as well as in design-and-build projects. Both companies are ISO 9002 accredited and have been certified with ISO 14001 environmental management system and OHSAS 18001 occupational health and safety system.