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1 Aug

New World Group triumphs in International Annual Report Awards for four consecutive years

(1 August 2006, Hong Kong) New World Group triumphs in the International ARC Awards 2006, the widely recognized "Academy Awards of Annual Reports". New World China Land Limited ("NWCL", Hong Kong stock code: 0917) and New World Development Company Limited ("NWD", Hong Kong stock code: 0017) FY2005 Annual Reports won the Gold and Silver Awards respectively in "Overall Annual Report: Real Estate Development/ Service" category.

"We are proud that our annual reports have obtained international recognition in the world's largest and most prestigious annual report competition for four consecutive years." Mr CF Kwan, Director of Corporate Affairs, New World Group, said. "The accolades reflect our continual determination in maintaining high level of transparency and disclosure. We will keep on striving to achieve excellence in our annual reports, which is an important tool in investor communication."

On the cover of NWD FY2005 Annual Report, the picture showing New World Group's key landmark constructions, Hong Kong Convention and Exhibition Centre as well as New World Centre, on both sides of Hong Kong's busy harbour not only showcases the group's commitment and confidence in Hong Kong, but also its positive perspective on the future. On the other hand, accompanied with high-quality photos, a full account of the group's four core businesses is presented clearly in the report, conveying NWD's vision of creating a new world of opportunities.

For NWCL FY2005 Annual Report, the photo of properties on the cover is presented with oil painting style, symbolizing people's dream for quality living and working premises. The well structured report show readers how NWCL has turned this dream into reality by building quality properties where residents enjoy "New Living", "New Way to Work", "New Culture and Entertainment" and "New Style of Leisure".

The International ARC Awards, sponsored by MerComm, Inc., are the world's largest competition honouring excellence in annual reports. The annual competition receives entries from hundreds of companies across sectors from around the world. Annual reports are judged on the basis of several elements, including presentation of corporate information, expression of financial data, how well the spirit of the organization is communicated, clarity of written text and effectiveness of design.