UBA INVESTMENTS<0768> - Exceptional Price Movement

The Stock Exchange has received a message from UBA Investments Limited 
which is reproduced as follows:-

"This statement is made at the request of The Stock Exchange of Hong Kong 

The Board of Directors ("the Directors") have noted the recent increase of 
price of the shares of the Company and wish to state that the Directors 
are not aware of any reasons for such increase.

The Directos also 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 Directors 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.

Made by the order the Company the Directors of which individually and 
jointly accept responsibility for the accuracy of this statement.

For and on behalf of
UBA Investments Limited 

Li Kwok Cheung, George
Executive Director

31 January 2000"