Asia PR News

HONG KONG, Nov. 29 /Xinhua-PRNewswire-AsiaNet/ –

HKC (Holdings) Limited ("HKC (HOLDINGS)" or the "Group") (HKEx: 190)
announced that the Group has successfully bid on a parcel of land at Nanjing
North Street, Heping District, Shenyang City for RMB170 million (approximately
HK$178.5 million) at a public auction through an auctioneer appointed by the
People’s High Court of Liaoning Province, the PRC.

The total site area of the land is 7,105 sq. m. with approved design gross
floor area of about 92,000 square meters above ground. The average land price
of the gross floor area above ground is about RMB1,848 per sq. m. The Group
also intends to build a total of 10,000 sq. m. floor area below ground. The
land is located at the city center of Shenyang above a subway station under
construction which currently is planned to commence operation in 2009. The Land
is also beside Taiyuan Street, the pedestrian shopping street of Shenyang.

Shenyang is the economic, cultural, communication, trade and commercial hub
in Northeastern China as well as a major industrial and cultural city with
historical importance. At the centre of both the Northeast Asian economic ring
and the Bohai economic ring, the city has been growing fast. As the Shenyang
economy continues to expand, HKC (HOLDINGS) expects the property market in the
city to keep prospering in the next few years and beyond.

Mr. Eric Oei, Managing Director and Chief Executive Officer of HKC
(HOLDINGS), commented, "I am very pleased with this latest successful bid we
managed so soon after the acquisition of another piece of quality land in the
same region in September. This latest acquisition at a very reasonable price is
testament to the foresight and shrewd judgment of the Group’s land acquisition
team. Shenyang is one of the prime regions the Group has identified for its
property development business. With an extensive business network and
leveraging the support of Cerberus, our second largest shareholder and expert
in property investment, we will continue to look for and acquire high-potential
site to enrich our land bank in China, especially prime land in Shanghai,
Tianjin, Shenyang, Hangzhou, and Qingdao."

About HKC (Holdings) Limited (stock code: 190)

HKC (Holdings) Limited is principally engaged in property development and
investment activities with a primary focus in the PRC. It is also one of the
leading providers of alternative energy in the PRC. In October 2007, Cerberus
Asia Capital Management, LLC has become the Group’s second largest shareholder.

For more information, please visit the Group’s website:
http://www.hkcholdings.com

For media enquiries:

Vicky Lee
Strategic Financial Relations Limited
Tel: +852-2864-4834
Email: vicky.lee@sprg.com.hk

Doris Chan
Strategic Financial Relations Limited
Tel: +852-2114-4950
Email: doris.chan@sprg.com.hk

Germain Lam
Strategic Financial Relations Limited
Tel: +852-2864-4861
Email: germain.lam@sprg.com.hk

SOURCE: HKC (Holdings) Limited