ITC CORPORATION<0372> - Announcement

The Stock Exchange has received a message from ITC Corporation Limited 
(the "Company") which is reproduced as follows:-

"On 25th October, 2000, the Company has been approached by independent 
third parties not connected with the substantial shareholders, directors, 
chief executives of the Company and any of its subsidiaries or associates 
with a view to buy the Company's full stake in Tung Fong Hung (Holdings) 
Limited ("Tung Fong Hung"), which at present is about 33.98% of the issued 
share capital in Tung Fong Hung.  The negotiations are preliminary and no 
agreement in principle has been reached between the Company and the 
independent third parties with regard to the terms of such sale at the 
moment and such negotiation may or may not proceed.

Shareholders of the Company are reminded to exercise caution in dealing in 
the shares of the Company.

By Order of the Board
Rosanna Chau Mei Wah
Managing Director

26th October, 2000"