(14 December, 2005 – Hong Kong) – A subsidiary of Cheung Kong (Holdings) Limited (“Cheung Kong”) is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with World Wide Fund for Nature Hong Kong (“WWF”) to develop a wetland nature reserve in Fung Lok Wai.

The project will be situated at the existing fishponds at Fung Lok Wai, Yuen Long at Lot 1457 R.P. in D.D. 123, New Territories. The proposed concept for the project is outlined in the Project Profile No. PP-091/2000 submitted under the Environmental Impact Assessment Ordinance on 26 May 2000.

Under the MOU, WWF will offer Cheung Kong advice and input as to the planning, construction and operation of the 76 ha wetland nature reserve and other parts of the project. At the planning stage, this will include providing inputs for the environmental impact assessment, providing advice in relation to the establishment of a proposed wetland nature foundation (“the Foundation”), as well as making recommendations with regard to the governance structure of the Foundation.

WWF will also work with Cheung Kong and its contractors and other consultants on the construction of the wetland nature reserve. At the operational stage, it is intended that the WWF will be the conservation manager of the wetland nature reserve under appointment by the Foundation.

Commenting on the project, Ms Grace Woo, Executive Director of Cheung Kong, said: “We are delighted to partner with WWF in making our wetland nature reserve a reality. Cheung Kong realizes the importance of environmental conservation and this project is poised to spearhead our efforts. The Fung Lok Wai project marries the development of a residential area with the concept of environmental protection, resulting in a win-win partnership for the community. We are very pleased to have WWF on board – their input and advice as an experienced wetland conservation expert will be invaluable.”

Mr Eric Bohm, CEO of WWF, expressed: “Cheung Kong’s wetland nature reserve is an inspiring private sector initiative to promote conservation in Hong Kong. WWF fully applauds their efforts and is pleased to be a part of the project, which significantly adds to the amount of habitat in the Deep Bay Area being managed for conservation. With our extensive experience and wide resources in the arena of wetland management, we believe that we have considerable expertise to offer. We hope this project is a real success and will become a model for conservation partnerships in Hong Kong.” WWF currently manages the nearby Mai Po Nature Reserve.

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