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

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, 15 December 2004 and 21 January 2005, 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
ITC CORPORATION LIMITED

Law Hon Wa, William
Secretary

24 January 2005"