XN000022-1994-07-02 — Page 2

SATURDAY, JULY 2, 1994

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INVESTIGATOR'S REPORT PUBLISHED

MACLEOD,

THE FINANCIAL SECRETARY, SIR HAMISH

SAID TODAY (SATURDAY) HE HAD ALREADY SENT COPIES OF THE FULL REPORT, PRODUCED BY THE INSPECTOR APPOINTED TO INVESTIGATE CERTAIN TRANSACTIONS RELATED TO THE TOMSON PACIFIC LTD AND WORLD TRADE CENTRE GROUP LTD, TO THOSE COMPANIES INVOLVED IN THE INVESTIGATION.

"AN ABRIDGED VERSION OF THE REPORT HAS BEEN PUBLISHED AND IS AVAILABLE FOR SALE TODAY, HE SAID.

SIR HAMISH SAID THE STANDARDS OF COMMERCIAL AND CORPORATE CONDUCT AS REVEALED IN THE REPORT GAVE CAUSE FOR CONCERN.

HE SAID THE REPORT HAD BEEN

REFERRED TO LAW ENFORCEMENT

AGENCIES AND REGULATORY BODIES.

IN DELIVERING THE REPORT TO THE COMPANIES CONCERNED, SIR HAMISH HAD URGED THEIR DIRECTORS TO STUDY ITS CONTENTS CAREFULLY AND TO TAKE SUCH ACTION AS IS NECESSARY IN THE SHAREHOLDERS' INTEREST.

IS

"IN PUBLISHING THE ABRIDGED VERSION OF THE REPORT, OUR AIM TO BALANCE THE NEED TO GIVE AS MUCH INFORMATION AS POSSIBLE ΤΟ SHAREHOLDERS AS WELL AS THE WIDER COMMUNITY, WHILE AT THE SAME TIME AVOIDING PREJUDICE TO PENDING LEGAL PROCEEDINGS OR POSSIBLE FUTURE LEGAL PROCEEDINGS.

"IT IS INTENDED THAT THE REMAINDER OF THE REPORT WILL PUBLISHED WHEN THE RISK OF PREJUDICE HAS PASSED, HE SAID.

..

BE

SIR HAMISH SAID THIS INVESTIGATION ILLUSTRATED GOVERNMENT'S DETERMINATION TO ACT AS NECESSARY TO FIND OUT THE FACTS BEHIND ANY APPARENT MALPRACTICES IN ORDER TO MAINTAIN THE INTEGRITY OF THE FINANCIAL MARKETS.

THE INSPECTOR, MR JOHN LEES OF FERRIER HODGSON AND MARFAN, WAS APPOINTED UNDER SECTION 143(1) (C) OF THE COMPANIES. ORDINANCE ON AUGUST 28, 1992 TO INVESTIGATE THE AFFAIRS OF TOMSON PACIFIC LTD AND WORLD TRADE CENTRE GROUP LTD AND RELATED COMPANIES.

THE INSPECTOR SUBMITTED HIS REPORT TO THE FINANCIAL SECRETARY ON MAY 28 THIS YEAR.

$20M GRANTED FOR DISASTER RELIEF IN CHINA

THE DISASTER RELIEF FUND ADVISORY COMMITTEE TODAY (SATURDAY) RECOMMENDED THAT, SUBJECT TO THE FINANCE COMMITTEE'S APPROVAL, THREE GRANTS TOTALLING $20 MILLION BE MADE FROM THE DISASTER RELIEF FUND FOR DISASTER RELIEF IN CHINA.

A GOVERNMENT SPOKESMAN SAID THE GRANTS WERE MADE IN RESPONSE TO AN APPEAL MADE BY HONG KONG RED CROSS AND TWO APPLICATIONS FROM WORLD VISION HONG KONG AND MEDECINS SANS FRONTIERES HONG KONG.

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