SHIMAO CHINA<00649> - Unusual price & volume movements

The Stock Exchange has received a message from Shimao China 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 save as disclosed in the 
announcement dated 26 October, 2004 in relation to the proposed 
acquisitions of the Company (the "Announcement"), we are not aware of any 
reasons for such increases, save as disclosed below. 

We confirm that, subsequent to the publication of the Announcement, (1) 
the Company has not entered into further negotiation with the director of 
the Company, namely Mr. Hui Wing Mau for the time being in relation to the 
proposed acquisition of the property interest in Suifenhe, Heilongjiang, 
China; and (2) the discussion with an independent third party in relation 
to a proposed acquisition of a property interest in South East Asia is 
still in process but todate no decision has been made by the Company to 
proceed with such transaction. 

Save as disclosed above, we also confirm that there are no negotiations or 
agreements relating to intended acquisitions or realisations which are 
discloseable under rule 13.23, neither is the Board aware of any matter 
discloseable under the general obligation imposed by rule 13.09, which is 
or may be of a price-sensitive nature.

Made by the order of the Board of Shimao China Holdings Limited, the 
directors of which individually and jointly accept responsibility for the 
accuracy of this statement.

As at the date of this statement, the Board comprises 

Executive Directors:            Independent non-executive Directors:
Hui Wing Mau (Chairman)         Yu Hon To, David
Chung Shui Ming, Timpson        Lee Chack Fan
(Chief Executive Officer)       Liu Hing Hung
Hui Mei Mei, Carol              Lu Hong Bing
(Deputy Chairman)               
Hui Sai Tan, Jason              
Ip Wai Shing            
Tang Ping Fai           
Yao Li          

For and on behalf of 
Shimao China Holdings Limited

Eric Mok
Company Secretary

2 November 2004"