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

ITC  Corporation Limited has applied to the Stock Exchange for an
extension  for  the  despatch  of  the circular in relation to its
acquisition  of shares in Tung Fong Hung (Holdings) Limited from Hanny
Holdings Limited on or before 5th November, 1999.

As  set  out  in the announcement of ITC dated 28th September, 1999,
the  acquisition of shares in Tung Fong Hung from Hanny Holdings under
the  exercise  of  a  put  option by Hanny Holdings constitutes a
discloseable  transaction  of ITC. As additional time is required for
the  preparation  of  the  circular,  ITC has applied to the Stock
Exchange  for  an  extension for the despatch of the circular on or
before 5th November, 1999.

                               By Order of the Board     
                               Wong Lai Kin, Elsa          
                               Company Secretary                     
                                                             

Hong Kong, 20th October, 1999