(Hong Kong, 18 November 2002) The Shui On Group has opened "88 Xintiandi Executive Residence" at the heart of Shanghai Xintiandi, overlooking the beautiful Taipingqiao Lake and Park. Located adjacent to the business district on Huai Hai Zhong Road and the Huang Pi Nan Road metro station, 88 Xintiandi is within walking distance of a vast array of commercial, shopping, dining and entertainment facilities. The interior design follows the concept of Shanghai Xintiandi, which is characterised by the juxtaposition of the old and the new, the East and the West. Offering services equivalent to those of a five-star hotel round the clock, 88 Xintiandi is expected to be popular among business travelers and expatriates in Shanghai.

88 Xintiandi offers 53 residences in five different configurations for both short-term and long-term stays. Reproduction antique furniture is placed alongside modern furnishings to create a distinctive aura exuding both nostalgia and modernity. Each unit features broadband Internet access as well as a well equipped kitchen and bathroom.

88 Xintiandi offers quality services comparable to those of a five-star hotel, including room service, daily housekeeping, secretarial service, laundry/dry cleaning, porter service, courier and mail service and newspaper subscription, among others. Buffet breakfast is available in the lounge. Limousine service to and from the airport is also available.

For more information on 88 Xintiandi, please visit www.88xintiandi.com.

The interior design of 88 Xintiandi follows the concept of Shanghai Xintiandi, which is characterised by the juxtaposition of the old and the new, the East and the West.

88 Xintiandi overlooks the beautiful Taipingqiao Lake and Park.

Shanghai Xintiandi is a popular entertainment hub in the city centre imbued with Shanghai's historical and cultural legacies. It is a re-creation born out of the sprawls of Shikumen housing, which is the architectural symbol of early 20^th century Shanghai. Xintiandi was created by converting Shikumen residential blocks into a multifunctional business and entertainment centre flowing with restaurants, boutiques, cafes and bars of an international standard.

The principal investor of Shanghai Xintiandi and 88 Xintiandi is the Shui On Group, which was founded in Hong Kong in 1971 by Mr Vincent H.S. Lo. Through the years he has built Shui On from a small construction company into a diversified group engaged in property development, construction and construction materials with interests in Hong Kong, the Chinese Mainland and North America.