ITC CORPORATION<00372> - Exceptional Price Movement

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.

We have noted the recent increase in the price of the ordinary shares of 
the Company today and wish to state that, save as disclosed in the joint 
announcement of the Company and Paul Y. - ITC Construction Holdings 
Limited dated 25th October, 2002 ("Announcement"), we are not aware of any 
reasons for such increase.

We also confirm that, save as disclosed in the Announcement, there are no 
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.

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, 2002"