XN000022-1987-03-20 — Page 10

FRIDAY, MARCH 20, 1987

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EX-GRATIA COMPENSATION RATES FOR LAND REVISED

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EX-GRATIA COMPENSATION RATES FOR THE ACQUISITION OF LAND IN THE NEW TOWN DEVELOPMENT AREAS OF THE NEW TERRITORIES WILL BE INCREASED TO $58.20 PER SQUARE FOOT FOR AGRICULTURAL LAND $106.50 PER SQUARE FOOT FOR BUILDING LAND ON APRIL 1.

A GOVERNMENT SPOKESMAN SAID TODAY (FRIDAY) THESE NEW RATES REPRESENTED AN AVERAGE 13 PER CENT INCREASE ON THE EXISTING RATES AND WERE SIMILAR TO THE EX-GRATIA COMPENSATION RATE LEVELS APPLICABLE IN OCTOBER 1979.

THE SPOKESMAN ALSO ANNOUNCED THE NEW CURRENCY VALUES OF NEW TERRITORIES LAND EXCHANGE ENTITLEMENTS (LETTERS A-B) THAT WOULD COME INTO EFFECT ON APRIL 1.

THE VALUES REPRESENT AN AVERAGE INCREASE OF 20 PER CENT OVER PRESENT CURRENCY VALUES, DEPENDING ON THE YEAR THE LETTER B WAS ISSUED.

CONTRACT AWARDED TO EXTEND MANAGEMENT OF CARPARKS *****

ELEVEN GOVERNMENT MULTI-STOREY CARPARKS WILL CONTINUE TO BE MANAGED BY WILSON PARK ING (HONG KONG) PTY LTD. FOR THE NEXT THREE YEARS FOLLOWING A CONTRACT SIGNED TODAY (FRIDAY) BY THE COMMISSJONER FOR TRANSPORT, MR PETER LEEDS AND THE MANAGING DIRECTOR OF WILSON PARK ING, MR PAUL SIMPSON.

ALSO SIGNED WAS A CONTRACT EXTENDING WILSON PARKING'S RIGHT TO PRODUCE, MARKET AND SELL PRE-PAID TICKETS FOR GOVERNMENT ROAD TUNNELS UP TO APRIL 30, 1990.

WILSON PARKING HAVE BEEN RUNNING GOVERNMENT MULTI-STOREY CARPARKS SINCE THEY WERE PRIVATISED ON MAY 1, 1984. THE CURRENT „AGREEMENT WITH THE GOVERNMENT ON THE MANAGEMENT OF THESE CARPARKS WILL HOWEVER EXPIRE AT THE END OF NEXT MONTH,

+ THE DECISION TO EXTEND THE AGREEMENT FOR ANOTHER THREE YEARS WITH EFFECT FROM MAY 1 WAS BASED ON WILSON PARKING'S EFFICIENT MANAGEMENT AND SATISFACTORY PERFORMANCE RECORD IN RUNNING THESE CARPARKS, + MR LEEDS SAID AFTER THE CONTRACT SIGNING.

THE CARPARKS, LOCATED IN CENTRAL, ABERDEEN, TSIM SHA TSUI YAU MA TEI, KWAI FONG AND TSUEN WAN, PROVIDE OVER 7 000 PARKING SPACES.

FRE-PAID

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