LAI FUNG HOLD<1125> - Exceptional Price & Turnover Movements

The Stock Exchange has received a message from Lai Fung Holdings Limited  
which is reproduced as follows:-

"This statement is made at the request of The Stock Exchange of Hong Kong 
Limited.

We have noted the recent increases in the price and trading volume of the 
shares of the Company and wish to state that we are not aware of any 
reasons for such increase.

We also confirm that, save for the discloseable and connected transactions 
announced by the Company on 14th May, 1999, there are no negotiations or 
agreements relating to intended acquisitions or realisations which are 
discloseable under paragraph 3 of the Listing Agreement, neither is the 
Board aware of any matter discloseable under the general obligation 
imposed by paragraph 2 of the Listing Agreement, which is or may be of a 
price-sensitive nature.

Made by the order of Lai Fung Holdings Limited the Directors of which 
individually and jointly accept responsibility for the accuracy of 
this statement.

By Order of the Board of
LAI FUNG HOLDINGS LIMITED

Yeung Kam Hoi
Company Secretary

Hong Kong, 27th May, 1999"