1999 — Page 21

Hong Kong Ferry (Holdings) Co. Ltd

19

DIRECTORS' INTERESTS IN SECURITIES

At 31 December 1999, the interests of the directors in securities of the Company as recorded in

the register maintained under section 29 of the SDI Ordinance were as follows:

Mr. Colin K.Y. Lam

Sir Kenneth P.F. Fung

Mr. Norman H.C. Ho

Mr. Michael Y.L. Kan

Mr. Edmond T.C. Lau

Mr. Eddie Y.C. Lau

Dr. Lee Shau Kee

Mr. Leung Hay Man

Mr. Li Ning

Personal interests

Number of shares

Corporate interests

Number of shares

!

150,000

3,950

3,313,950

22,965

1,000

7,799,220

108,588,090

2,250

Mr. Peter M.K. Wong

Dr. Alex S.C. Wu

1,151,000

186,030

Other than as stated above, no director or chief executive held any interest, whether beneficial

or non-beneficial, in the share capital of the Company or any of its associated corporations

(within the meaning of the SDI Ordinance).

INTERESTS IN CONTRACTS

Except for the connected transactions as disclosed in this Report, no other contract of significance, to which the Company or any of its subsidiaries was a party and in which a director of the Company

had a material interest, subsisted at the end of the year or at any time during the year.

None of the directors proposed for re-election at the forthcoming Annual General Meeting has a service contract with the Company which is not determinable by the Company or any of its

subsidiaries within one year without payment other than statutory compensation.

RESERVES

Movements in reserves of the Company and of the Group during the year are set out in note 22

on the accounts.

PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SECURITIES

During the year, neither the Company nor any of its subsidiaries has purchased, sold or redeemed any of the Company's listed securities.