FE CONSORT INTL<0035> - Announcement

The Stock Exchange of Hong Kong Limited takes no responsibility for 
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.

far east consortium international limited
(Incorporated in the Cayman Islands with limited liability)

Spin-off and separate listing of
New China Homes, Ltd.
on the NASDAQ Stock Market

The US SEC has declared that the registration statement (Form F-1) 
filed on behalf of New China Homes has become effective on 8 March, 
2000 (US time). Dealings in the securities of New China Homes have 
commenced on 10 March, 2000 (US time).

The directors ("Directors") of Far East Consortium International 
Limited ("FEC") announced on 19 June, 1999 a proposal involving the 
spin-off and separate listing ("Listing") of New China Homes, Ltd. 
("New China Homes"), a subsidiary of FEC, on the NASDAQ Stock 
Market. On 29 November, 1999, a circular providing the details of 
the Listing was sent to shareholders and in an extraordinary general 
meeting of FEC held on 16 December, 1999, the Listing was approved 
by the shareholders of FEC.

The Directors are pleased to announce that the advisers of New China 
Homes have informed the Directors that the United States ("US") 
Securities and Exchange Commission ("SEC") declared that the 
registration statement (Form F-1) filed on behalf of New China Homes 
has become effective on 8 March, 2000 (US time). Dealings in the 
securities of New China Homes have commenced on 10 March, 2000 (US 
time) on the NASDAQ Stock Market.

By Order of the Board
FAR EAST CONSORTIUM INTERNATIONAL LIMITED
David Chiu
Deputy Chairman and Chief Executive Officer

Hong Kong, 11 March, 2000