ITC CORPORATION<00372> - Unusual price & volume movements

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 increases in the price and trading volume of the 
ordinary shares of the Company and wish to state that we are not aware of 
any reasons for such increases.

Reference is made to the following documents:- 

(i) joint announcements of Paul. Y. - ITC Construction Holdings Limited 
("Paul Y. - ITC", which was a subsidiary of the Company until 20 October 
2004 and is a 49.6% associated company of the Company as at the date of 
this statement) and the Company dated 4 June 2004, 25 June 2004, 
13 August 2004, 3 September 2004, 9 September 2004, 24 September 2004, 
7 October, 2004 and 20 October, 2004 in relation to, among other things, 
the possible disposal by Paul Y. - ITC of the Paul. Y. Construction Group 
which has not yet been completed as at the date of this statement; and

(ii) an announcement of the Company dated 20 October 2004 in relation to 
the major transaction resulting from the acquisition of property.

Save as stated above, we confirm that there are no negotiations or 
agreements relating to intended acquisitions or realisations which are 
discloseable under rule 13.23 of the Rules Governing the Listing of The 
Stock Exchange of Hong Kong Limited ("Listing Rules"), neither is the 
board of directors of the Company ("Board") aware of any matter 
discloseable under the general obligation imposed by rule 13.09 of the 
Listing Rules, 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.

As at the date of this statement, the Board comprises nine directors of 
the Company, of which (i) six are executive directors, namely Dr. Chan 
Kwok Keung, Charles Mr Lau Ko Yuen, Tom, Ms. Chau Mei Wah, Rosanna, Mr. 
Chan Kwok Hung, Mr. Chan Fut Yan and Mr. Cheung Ho Kit; and three are 
independent non-executive directors, namely Mr. Chuck Winston Calptor, Mr. 
Lee Kit Wah and Mr. Wong Kam Cheong, Stanley.


For and on behalf of board of
ITC Corporation Limited

Chau Mei Wah, Rosanna
Managing Director

2 November 2004"