NEWS RELEASE
October 25, 1999
The Stock Exchange of Hong Kong today (Monday) posted a report on listed companies which were not Y2K compliant by September 30, 1999, on its web site (http://www.sehk.com.hk).
In view of the importance of the Y2K issue, the Exchange had required all listed companies to disclose their unresolved exposure to the Y2K problem by paid announcement by October 15, 1999 if they were not Y2K compliant as at September 30, 1999.
The Exchange has summarised the information received and compiled a report of those companies which notified the Exchange and reported in their most recent published announcements, interim and annual reports that they had not or did not expect to achieve Y2K compliant by September 30, 1999.
"We believe the report will increase the transparency of listed companies' disclosure in Y2K readiness. It will provide investors with information about listed companies' Y2K compliance based on listed companies most recent published announcements, interim and annual reports, to help them make informed investment decisions," Lawrence Fok, Senior Executive Director of Regulatory Affairs Group, said.
A copy of the report is attached for your reference, investors may refer to the report on the Exchange's web site. They may also use the Primary Market Database on the web site for details of company announcements.
Corporate Communications Department
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