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)

Expiry of Subscription Rights Attaching to the 1999 Warrants

The  subscription rights attaching to the Company's 1999 Warrants
will  expire on 11th November, 1999. Holders of the 1999 Warrants who
wish  to  exercise  the  subscription rights attaching to the 1999
Warrants  must  lodge  all relevant documents with the Registrars by
4:00 p.m. on Thursday, 11th November, 1999.

Trading  in  the 1999 Warrants will cease immediately after 4:00 p.m.
on  Monday,  8th November, 1999 and the listing of the 1999 Warrants
will  be withdrawn from the Stock Exchange immediately after 4:00 p.m.
on  Thursday,  11th November, 1999, after which date the subscription
rights  will  lapse  and the certificates for the 1999 Warrants will
cease to be valid for any purpose.

The  directors  of ITC Corporation Limited (`Company') wish to remind
holders  of  the  Company's 1999 Warrants (`1999 Warrants') carrying
rights  to subscribe for ordinary shares of HK$0.10 each (`Shares') in
the  Company  on  or  before  11th  November, 1999 at the current
subscription  price of HK$2.00 per Share, subject to adjustment, that
the  subscription rights attaching to the 1999 Warrants (`Subscription
Rights')  will  expire immediately after 4:00 p.m. on 11th November,
1999,  after  which date any Subscription Rights which have not been
exercised  will lapse and the certificates for the 1999 Warrants will
cease to be valid for any purpose.

Trading  in  the  1999  Warrants on The Stock Exchange of Hong Kong
Limited  (`Stock Exchange') will cease immediately after 4:00 p.m. on
Monday,  8th November, 1999 and the listing of the 1999 Warrants will
be  withdrawn  from the Stock Exchange immediately after 4:00 p.m. on
Thursday,  11th November, 1999. Application has been made to the Stock
Exchange  for  the  withdrawal of listing of the 1999 Warrants with
effect  from  immediately after 4:00 p.m. on Thursday, 11th November,
1999.

Registered  holders  of  the  1999 Warrants who wish to exercise in
whole  or in part their Subscription Rights are required to lodge the
relevant  warrant  certificate(s) with the subscription form(s) duly
completed  and  signed,  together  with the requisite subscription
monies,  with the Company's share registrars in Hong Kong, Secretaries
Limited  at  5th  Floor, Wing On Centre, 111 Connaught Road Central,
Hong  Kong  (`Registrars')  by 4:00 p.m. on Thursday, 11th November,
1999.

Persons  who  have purchased but are not registered as holders of the
1999  Warrants  and who wish to exercise the Subscription Rights are
required  to lodge the relevant warrant certificate(s), together with
the  duly  executed  and  stamped form(s) of transfer and/or other
documents  of  title,  the  duly completed and signed subscription
form(s)  (which can be obtained from the Registrars) and the requisite
subscription  monies,  with the Registrars by 4:00 p.m. on Thursday,
11th November, 1999.

Subscription  forms  for the 1999 Warrants lodged with the Registrars
later  than  4:00  p.m. on Thursday, 11th November, 1999 will not be
accepted.  Shares will be issued within 10 business days after the due
exercise  of the Subscription Rights and sent to the relevant holders
of  the  1999 Warrants by post at their own risk. The Shares issuable
under  the  1999  Warrants will, upon issue, rank pari passu in all
respects with the Company's fully paid Shares in issue.

Holders  of  the  1999  Warrants may wish to note that the closing
prices  of  the  Shares and the 1999 Warrants as quoted on the Stock
Exchange on 13th October, 1999 were HK$1.56 and HK$0.10
respectively.

A  circular  providing  details  of the expiry of the Subscription
Rights will be despatched to holders of the 1999 Warrants shortly.

                               By Order of the Board 
                               Wong Lai Kin, Elsa
                               Company Secretary                     
                                                           
Hong Kong, 13th October, 1999