SWIRE PACIFIC<0019> & <0087> - Announcement

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the contents of this announcement, makes no representation as to its 
accuracy or completeness and expressly disclaims any liability whatsoever 
for any loss howsoever arising from or in reliance upon the whole or any 
part of the contents of this announcement.

Swire Pacific Limited

(Incorporated in Hong Kong with limited liability)

Connected Transaction

Swire Pacific entered into a Sale and Purchase Agreement on 6th March, 
2000 for the sale of the entire issued share capital of Swire Loxley to 
Sparkle Light, a wholly owned subsidiary of CITIC Pacific, for a 
consideration of HK$86,000,000 (subject to adjustment in accordance with 
the Agreement). Since CITIC Pacific is a substantial shareholder of 
Festival Walk Holdings, which is a subsidiary of Swire Pacific, the 
Agreement is a connected transaction under Rule 14.25(1) of the Listing 
Rules.

Date of the Agreement
6th March, 2000

Parties
Seller: Swire Pacific Limited ("Swire Pacific")

Purchaser: Sparkle Light Enterprises Inc. ("Sparkle Light"), a wholly 
owned subsidiary of CITIC Pacific Limited ("CITIC Pacific") Purchaser 
Guarantor: Dah Chong Hong Holdings Limited, a wholly owned subsidiary of 
CITIC Pacific 

Interest realised
The entire issued share capital of Swire Loxley Limited ("Swire Loxley") 
which carries on the business of distributing pharmaceutical products and 
medical equipment in Hong Kong, Macau and Mainland China.

Consideration HK$86,000,000 (subject to adjustment in accordance with the 
audited net asset value of Swire Loxley). The consideration was arrived at 
after arm's length negotiation based on normal commercial terms and was 
paid in cash upon signing of the Agreement.

The Directors of Swire Pacific, including the independent non-executive 
Directors, consider that the consideration and the terms of the Agreement 
are fair and reasonable and are in the best interests of the shareholders 
of Swire Pacific and of the Company.

The proceeds from this transaction will be used by Swire Pacific as part 
of its working capital.

Completion 

On signing of the Agreement.

Connection between the parties CITIC Pacific is a substantial shareholder 
of Festival Walk Holdings  Limited, which is a non-wholly owned subsidiary 
of Swire Pacific. 

Information for shareholders

This transaction will be referred to in the 1999 annual report of Swire 
Pacific pursuant to Rule 14.25(1)(A) to (D) of the Listing Rules.

By order of the Board
P A Moore
Secretary

Hong Kong, 6th March 2000