KERRY PPT<0683> - Exceptional Price & Turnover Movements

The Stock Exchange has received a message from Kerry Properties 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 increases in trading 
volume of the shares of the Company and wish to state that we are not 
aware of any reasons for such increases.

Other than a proposed transaction relating to a sale of premises by a 
wholly-owned subsidiary of the Company to a company controlled by the 
Joint Managing Director of the Company at a total consideration of 
HK$12,850,000, we confirm that 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. The proposed transaction, once approved by the Board of the 
Company (including the independent non-executive directors of the 
Company), will be disclosed by way of a press announcement as a connected 
transaction (as defined under and required by the Rules Governing the 
Listing of Securities on The Stock Exchange of Hong Kong Limited) at the 
most earliest date.

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

Chew Fook Aun
Chief Financial Officer and
Alternate Authorised Representative
Kerry Properties Limited

Hong Kong, 19th April, 1999"