ITC CORPORATION<0372> - Announcement

The  Stock  Exchange of Hong Kong Limited takes no responsibility for
the  contents of this announcement, makes no representation as to its
accuracy  or  completeness  and  expressly disclaims any liability
whatsoever  for  any loss howsoever arising from or in reliance upon
the whole or any part of the contents of this announcement.

itc corporation limited

(Incorporated in Bermuda with limited liability)

Announcement

Further  announcement in relation to the joint announcement dated
6th  September,  1999  and  the announcement dated 15th September,
1999.

The  board of directors (the `Board') of ITC Corporation Limited (the
`Company')  wishes  to  state that further to the joint announcement
dated  6th September, 1999 and the announcement dated 15th September,
1999,  it  is the understanding of the Board that negotiation with an
independent  third party is at a final stage on a possible investment
in  Star East Information Technology Corp., a 47.8% beneficially owned
associated  company  of  the  Company. However, the Board wishes to
inform  shareholders  that  this  transaction  may  or may not be
implemented  as  the  final  terms of the transaction have not been
agreed  by  the parties. Therefore, investors and potential investors
are  advised to exercise extreme caution in dealing in the securities
of  the  Company. Further announcement will be made by the Company to
update the shareholders if there is any material development.

                               By Order of the Board Rosanna 
                               Chau Mei Wah Managing         
                               Director                      
                                                           
Hong Kong, 20th September, 1999