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(Incorporated in Bermuda with limited liability)
(Stock code: 372)
DISCLOSEABLE TRANSACTION
ACQUISITION OF SHARES IN
ITC PROPERTIES GROUP LIMITED

The Directors announced that the Company, through its indirect wholly-owned subsidiaries,
has acquired an aggregate of 183,090,000 ITC Properties Shares, representing approximately
5.91% of the existing issued share capital of ITC Properties, on the Stock Exchange for an
aggregate consideration of approximately HK$78.7 million during the Relevant Period. As a
result of the Acquisition and further acquisitions of a total of 3,135,000 ITC Properties
Shares on the Stock Exchange on 24 and 31 December 2007 and 2 January 2008, the Group
directly holds 186,225,000 ITC Properties Shares, representing approximately 6.02% of the
issued share capital of ITC Properties as at the date of this announcement.
As the applicable percentage ratios in respect of the aggregation of various acquisitions of
ITC Properties Shares calculated up to 21 December 2007 exceeded 5% but were less than
25%, the last acquisition of ITC Properties Shares on 21 December 2007 (being the last day
of the Relevant Period) triggered a discloseable transaction for the Company under Chapter
14 of the Listing Rules. A circular containing, among other things, further details of the
Acquisition will be dispatched by the Company to its shareholders in accordance with the
requirements of the Listing Rules.
THE ACQUISITION

The Directors announced that the Company, through its indirect wholly-owned subsidiaries,
has acquired an aggregate of 183,090,000 ITC Properties Shares, representing approximately
5.91% of the existing issued share capital of ITC Properties, on the Stock Exchange for an
aggregate consideration of approximately HK$78.7 million during the Relevant Period. As a
result of the Acquisition and further acquisitions of a total of 3,135,000 ITC Properties Shares
on the Stock Exchange on 24 and 31 December 2007 and 2 January 2008, the Group directly
holds 186,225,000 ITC Properties Shares, representing approximately 6.02% of the issued
share capital of ITC Properties as at the date of this announcement.

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The Company did not hold any direct interest in ITC Properties immediately before the
Acquisition. As at the date of this announcement, Hanny Holdings Limited is interested in
approximately 16.7% of the issued share capital of ITC Properties. Whereas the Company
indirectly holds approximately 49.9% of the issued share capital of Hanny Holdings Limited
as at the date of this announcement, accordingly, the Company holds approximately 14.4%
effective interest in ITC Properties.
The average price per share of ITC Properties Shares acquired by the Group during the
Relevant Period is approximately HK$0.43, representing:
(i) a premium of approximately 11.7% over the closing price of HK$0.385 per ITC Properties
Share as quoted on the Stock Exchange on 21 December 2007;
(ii) a premium of approximately 11.1% over the average closing price of approximately
HK$0.387 per ITC Properties Share for the last 5 trading days up to and including 21
December 2007;
(iii) a discount of approximately 0.2% to the average closing price of approximately HK$0.431
per ITC Properties Share for the last 90 trading days up to and including 21 December
2007; and
(iv) a discount of approximately 29.2% to the unaudited consolidated net asset value of
approximately HK$0.607 per ITC Properties Share as at 30 September 2007.
To the best of the knowledge, information and belief of the Directors having made all reasonable
enquiries, the vendors of the 183,090,000 ITC Properties Shares and their ultimate beneficial
owners are third parties independent of the Company and connected persons of the Company.
REASONS FOR THE ACQUISITION

The Company is an investment holding company which directly and indirectly holds strategic
investments in a number of listed companies. The principal activities of the Group comprise
investment holding, the provision of finance, property investment and treasury investment.
ITC Properties is an investment holding company and its subsidiaries are principally engaged
in property development and investment in Macau, the PRC and Hong Kong. The ITC Properties
Group is also engaged in golf resort and leisure operations, securities investment and loan
financing services.

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Riding on the rapid economic growth and development in the PRC and Macau, the Company
is confident about the prospects of the PRC and Macau markets as a whole and are positive on
the long term potential of the property markets in these areas. Given the strong presence of
the ITC Properties Group in the PRC and Macau, the Company is of the view that investment
in ITC Properties enables the Group to share the benefit from the growth in property markets
in the PRC and Macau. In addition, the Acquisition allows the Group to achieve a more
diversified and balanced investment portfolio. If suitable opportunity arises, the Group may
consider acquiring more ITC Properties Shares. If any subsequent acquisition(s) of ITC
Properties Shares by the Group leads to a possible major transaction for the Company, the
Company will comply with the applicable Listing Rules. The Directors believe that the
Acquisition is fair and reasonable and in the interests of the Company and its shareholders as
a whole. The interests in ITC Properties will be accounted for as available-for-sale investments
pursuant to Hong Kong Accounting Standard 39.
INFORMATION ON ITC PROPERTIES

The following is a summary of the audited consolidated results of the ITC Properties Group
for the two financial years ended 31 March 2006 and 2007 extracted from the 2006-2007
annual report of ITC Properties:
For the financial year
ended 31 March
2007 2006

HK$’000 HK$’000
Profit (loss) before taxation 84,156 (70,435)
Taxation (10,055) (2,657)
Profit (loss) for the year 74,101 (73,092)
The profit for the year ended 31 March 2007 of ITC Properties was mainly due to the increase
in net income from loan financing, the share of results of associates and gain on cancellation
of call options for acquisition of additional interest in an associate. Further details are set out
in the 2006-2007 annual report of ITC Properties.
As disclosed in the interim report of ITC Properties for the six months ended 30 September
2007, the unaudited consolidated net asset value of ITC Properties was approximately
HK$1,877.6 million as at 30 September 2007.
GENERAL

As the applicable percentage ratios in respect of the aggregation of various acquisitions of
ITC Properties Shares calculated up to 21 December 2007 exceeded 5% but were less than
25%, the last acquisition of ITC Properties Shares on 21 December 2007 (being the last day of
the Relevant Period) triggered a discloseable transaction for the Company under Chapter 14 of
the Listing Rules. A circular containing, among other things, further details of the Acquisition
will be dispatched by the Company to its shareholders in accordance with the requirements of
the Listing Rules.

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DEFINITIONS

In this announcement, unless the context otherwise requires, the following expressions have
the following meanings:
“Acquisition” the acquisition of an aggregate of 183,090,000 ITC Properties
Shares by the Company, through its indirect wholly-owned
subsidiaries, on the Stock Exchange during the Relevant
Period
“Board” the board of Directors
“Company” ITC Corporation Limited (Stock code: 372), a company
incorporated in Bermuda with limited liability and whose
issued shares are listed on the main board of the Stock
Exchange
“connected person(s)” has the same meaning ascribed thereto under the Listing Rules
“Director(s)” the director(s) of the Company
“Group” the Company and its subsidiaries
“Hong Kong” the Hong Kong Special Administrative Region of the People’s
Republic of China
“ITC Properties” ITC Properties Group Limited (Stock code: 199), a company
incorporated in Bermuda with limited liability and whose
issued shares are listed on the main board of the Stock
Exchange
“ITC Properties Group” ITC Properties and its subsidiaries
“ITC Properties Share(s)” ordinary share(s) of HK$0.01 each in the share capital of
ITC Properties
“Listing Rules” the Rules Governing the Listing of Securities on the Stock
Exchange
“Macau” Macau Special Administrative Region of the People’s
Republic of China
“PRC” the People’s Republic of China, which for the purpose of this
announcement, excludes Hong Kong, Macau and Taiwan
“Relevant Period” the period from 16 October 2007 to 21 December 2007

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“Stock Exchange”
By Order of the Board
ITC Corporation Limited
Law Hon Wa, William
Company Secretary
Hong Kong, 2 January 2008
As at the date of this announcement, the Board comprises:
Executive Directors: Independent non-executive Directors:
Dr. Chan Kwok Keung, Charles (Chairman) Mr. Chuck, Winston Calptor
Ms. Chau Mei Wah, Rosanna Mr. Lee Kit Wah
(Deputy Chairman and Managing Director) Hon. Shek Lai Him, Abraham, SBS, JP
Mr. Chan Kwok Chuen, Augustine
Mr. Chan Fut Yan
Mr. Cheung Hon Kit