ITC CORPORATION<0372> - Announcement

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.

Further to the paragraph 39.2 announcement issued by the Company on 
teletext on 27th October, 1999, the Company wishes to state the 
following:-

The Company is in the process of negotiation with two listed companies not 
connected with the directors, chief executives or substantial shareholders 
of the Company or any of its subsidiaries or assoicates of any of them in 
connection with the possible disposal of certain technology and 
internet-related assets held by the Company which may or may not include 
its interest in Star East Information Technology Corp.  Such negotiation 
may or may not materialise and the intended disposal may or may not 
constitute a notifiable transaction of the Company.  Although negotiations 
are in progress, no agreement has been reached nor terms have been 
finalised, and the intended disposal may of may not proceed.  The Company 
will issue a formal announcement in this regard shortly.

Save and except the aforesaid we confirm that there are not 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 matter discloseable under the general obligation 
imposed by paragraph 2 of the Listing Agreement, which is or may be of a 
price-sensitive nature.  The Board also wishes to state that none of the 
directors have dealt in the shares of the Company on 27th October, 1999.

Made by the order of the Board of ITC Corporation Limited the directors of 
which individually and jointly accept responsibility for the accuracy of 
this statement.


For and on behalf of
ITC CORPORATION LIMITED
Rosanna Chau
Managing Director

28th October, 1999"