1991-01-21 21:00 BRITISH TRADE CUMMisstun

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JARDINE MATHESON HOLDINGS LIMITED

Incorporated in Bermuda with limited liability

Group structure

The chart below shows in simplified form the structure of the Group and its associates.

Jardine Matheson

37%

100%

52%

100%

50%

Jardine Strategic

Jardine Pacific

Other interests

(subsidiary undertaking)

Jardine Insurance Brokers

Jardine Fleming

(associate)

75% !

46%

Jardine International Motors

Dairy Farm (subsidiary undertaking)

33%

50%

Hongkong Land (associate)

Mandarin Oriental (subsidiary undertaking)

Note: The above percentages: (a) are stated after the elimination of shares in Jardine Strategic and Hongkong Land held by their respective wholly owned subsidiaries; (b) are stated after the elimination of shares issued under the respective companies' share incentive schemes in respect of which options are outstanding: (c) include the affect of the cross-shareholdings between Jardine Matheson and Jardine Strategic: and (d) include the Ordinary Shares in Jardine Matheson and the shares in Dairy Farm and Mandarin Oriental held by Connaught investors.

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