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 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.

Save as disclosed in (i) the joint announcements of the Company and Paul. 
Y. - ITC Construction Holdings Limited dated 4 June 2004, 25 June 2004, 
13 August 2004, 3 September 2004, 9 September 2004, 24 September 2004, 
7 October 2004, 15 October 2004, 20 October 2004 and 30 November 2004; and 
(ii) the announcements of the Company dated 10 November 2004 and 15 
December 2004, we also 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 
Securities on The Stock Exchange of Hong Kong Limited (the "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 Hon Kit; and (ii) 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

16 December 2004"