Announcement

The Board of Directors ('the Board') of Kerry Properties Limited ('the Company') announces that following the appointment of Mr. Kuok Khoon Chen as Director and Chairman of Shangri-La Asia Limited, Mr. Kuok has resigned as Director and Chairman of the Board of the Company with effect from 20 September 1997. Mr. Ng Poh Meng has been appointed as Director and Chairman of the Board of the Company in place of Mr. Kuok on the same date.

The Board expresses its sincere thanks for the past contributions of Mr. Kuok to the Company and welcomes Mr. Ng to join the Board of the Company.