ITC CORPORATION<0372> - Exceptional Price & Turnover Movements

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

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

We have noted the recent increases in the price and volume of the shares 
of the Company.

The board of directors has been approached by a placing agent for a 
placement this morning.  However, the terms of the placement are still in 
negotiation and have not yet been finalised.  Therefore, the placement may 
or may not proceed.  Shareholders and investors are advised to exercise 
caution when dealing in the shares of the Company.

Save as the above, we wish to state that we are not aware of other reasons 
for such increase.

We 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 Board aware of any 
other 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 of the Board of ITC Corporation Limited the directors of 
which jointly accept responsibility for the accuracy of this statement.

For and on behalf of
ITC CORPORATION LIMITED

Lau Ko Yuen, Tom
Deputy Chairman

22nd April, 1999"