On Sun Hung Kai

On Sun Hung Kai

We refer to the article in The Jakarta Post, Dec. 26, 1995.

Acting for and on behalf of our Client Mr. Edward Lee we
hereby would like to point out that you have made a grave factual
error with regard to the above captioned matter when you
mentioned that "Former Sun Hung Kai president Edward Lee was
expelled from the company by its shareholders following the
license suspension".

Mr. Edward Lee voluntarily resigned for personal reasons as
the active President Director of PT. Sun Hung Kai Securities
Indonesia at an Extraordinary General Meeting of Shareholders
held on Nov. 30, 1995 and has been given full discharge of
responsibilities towards the company (acquit et descharge) by the
above mentioned Shareholders General Meeting, as can be seen from
the attached statement made by the company (To Whom It May
Concern) dated Nov. 30, 1995.

GANI DJEMAT & PARTNERS

Jakarta

Note: This letter was accompanied by a letter from Utomo
Josodirdjo, President Commissioner of PT Sun Hung Kai Securities
confirming that Mr. Edward Yuen Tse Lee resigned voluntarily and
has been given full discharge of his responsibilities towards the
Company (acquit et descharge) by the shareholders meeting held on
Nov. 30, 1995.

--Editor