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The following is issued on behalf of the Housing Authority:

Further to the announcement made by The Manager on December 16, and having regard to the unresolved possibility of appeal to the Court of Final Appeal in relation to the judicial review proceedings brought against the Housing Authority (HA) by Lo Siu Lan and Ma Ki Chiu (the Proceedings), the Global Offering and the listing of The Link Real Estate Investment Trust (The Link REIT) on the Hong Kong Stock Exchange will not proceed today (December 20) and the Global Offering lapses.

All application monies referable to successful applicants under the Hong Kong Public Offering (which were not refunded to applicants on December 16) will be refunded, without interest, to applicants today.

Ends/Monday, December 20, 2004

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