XN000022-1991-09-02 — Page 2

MONDAY, SEPTEMBER 2, 1991

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PM'S VISIT SIGNIFICANT FOR HK: GOVERNOR

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THE

SIGNING OF THE AIRPORT AGREEMENT DURING THE VISIT TO PEKING BY THE PRIME MINISTER, MR JOHN MAJOR, WILL ENABLE HONG KONG TO GO AHEAD AT FULL STEAM WITH THE NEW AIRPORT, THE GOVERNOR, SIR DAVID WILSON, SAID TODAY (MONDAY).

DAVID WOULD

DESCRIBING THE VISIT AS SIGNIFICANT FOR HONG KONG, SIR SAID THE SIGNING OF AGREEMENT MEANT THAT INVESTORS LATER ON, KNOW THAT IN THE LONG TERM THE PROJECT HAD THE FULL BACKING AND THE SUPPORT OF CHINA, AND THAT WAS AN IMPORTANT POINT.

SPEAKING TO REPORTERS BEFORE LEAVING FOR PEKING TO JOIN THE PRIME MINISTER FOR THE SIGNING CEREMONY, THE GOVERNOR SAID IT WAS ALSO A CHANCE FOR ANOTHER OF HIS MEETINGS WITH THE DIRECTOR OF THE RONG KONG AND MACAO AFFAIRS OFFICE, MR LU PING.

"I HAD ONE JUST BEFORE I WENT ON LEAVE. THIS WILL BE ANOTHER CHANCE TO MEET HIM AND TO FOLLOW UP I'M SURE, ON SOME OF THE MORE DETAILED MATTERS THAT WE TALKED ABOUT BEFORE ON THE DAVID SAID.

AIRPORT," SIR

STATEMENT ON BCCHK AND BCCFI

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THE

AND

THE FOLLOWING IS THE STATEMENT ISSUED BY MR NOEL GLEESON, REGISTRAR GENERAL (PROVISIONAL LIQUIDATOR OF BANK OF CREDIT COMMERCE HONG KONG LIMITED ("BCCHK") AND BCCI FINANCE INTERNATIONAL LIMITED ("BCCFI")) TODAY (MONDAY):

"IN MY CONTINUING SEARCH FOR AN ARRANGEMENT WHICH WOULD BEST PROTECT THE INTERESTS OF CREDITORS, INCLUDING THE DEPOSITORS LARGE AND SMALL, OF BCCHK AND BCCFI I HAVE TODAY OBTAINED THE APPROVAL OF THE HIGH COURT ΤΟ A SCHEME UNDER WHICH, SUBJECT ΤΟ CERTAIN PRE-CONDITIONS, THE BANKING BUSINESS OF BCCHK AND BCCFI WOULD BR ACQUIRED BY A NEW BANKING COMPANY OWNED AS TO NOT LES8 THAN 51% BY THE HONGKONG CHINESE BANK LIMITED ("HKCB"), A LOCALLY INCORPORATED MEMBER OF THE LIPPO GROUP OF COMPANIES.

"DETAILS OF THE SCHEME ARE CONTAINED IN CONDITIONAL AGREEMENT WHICH I HAVE SIGNED WITH HKCB.

HEADS OF

AGREEMENT

"EXCEPT IN TWO RESPECTS, THE CONDITIONAL HEADS OF ARE NOT LEGALLY BINDING BUT ARE A SERIOUS EXPRESSION OF INTENT BY BOTH PARTIES.

"THE CONDITIONAL HEADS OF AGREEMENT ARE LEGALLY BINDING TO EXTENT ONLY THAT:

THE

/(A) DURING A