UDL HOLDINGS<0620>&KEL HOLDINGS<0681> - Joint Announcement

The Stock Exchange of Hong Kong Limited takes no responsibility for 
the contents of this announcement, makes no representation as to its 
accuracy or completeness and expressly disclaims any liability 
whatsoever for any loss howsoever arising from or in reliance upon 
the whole or any part of the contents of this announcement.

UDL Holdings Limited
(Incorporated in Bermuda with limited liability)

KEL Holdings Limited
(Incorporated in Bermuda with limited liability)

JOINT ANNOUNCEMENT

SUMMARY

The respective board of directors (the ``Board'') of UDL Holdings 
Limited (``UDL'') and the Board of KEL Holdings Limited (``KEL''), 
a 75% subsidiary of UDL, would like to update on the postponement 
of the court hearing date of a winding-up petition presented by Yun 
Wing Hong together with 83 other claimants (the ``Petitioners'') 
against UDL Kenworth Engineering Limited (``Kenworth''), a 
wholly-owned subsidiary of KEL, to 21 April, 1999.

As previously announced on 2 February, 1999, the captioned winding-up 
petition is filed by the Petitioners against Kenworth.  At the 
hearing on 31 March, 1999, the Master ordered that the said petition 
be adjourned to 21 April, 1999.

As KEL will undertake a scheme of arrangement with creditors, the 
Boards of UDL and KEL are of the view that the said petition has no 
adverse impact on UDL and KEL.  The Boards of UDL and KEL further 
confirm that no material change has occurred since the recently 
announced information.

Save as disclosed herein, the Boards of UDL and KEL are not aware 
of any other matter discloseable under the general obligation imposed 
by paragraph 2 of the Listing Agreement, which is or may be of a 
price-sensitive nature.

Meanwhile shareholders of UDL and KEL should exercise caution when 
dealing in the shares of UDL and KEL.  Further announcement will be 
made when there is any material development regarding the above 
matter.

By Order of the Board
UDL Holdings Limited
Leung Yat Tung
Chairman

By Order of the Board
KEL Holdings Limited
Leung Yat Tung
Chairman

Hong Kong, 31 March, 1999