Shun Tak Holdings Limited (Stock Code 242; "Shun Tak") and RoadShow Holdings Limited (Stock Code 888; "RoadShow") are pleased to announce that they have entered into an agreement to establish an equally owned joint venture company (the "joint venture") to explore outdoor advertising business opportunities in Macau.

The joint venture intends to capture the advertising opportunities arising from tourist traffic generated by Macau. It will initially manage the multi-media on-board systems (MMOB) and related advertising sales business for "TurboJET" high speed passenger ferries, currently operated by Shun Tak, which cover Hong Kong, Kowloon, Macau, Guangzhou and Shenzhen. The joint venture will also develop and carry out media advertising sales and management services on an array of transit network facilities and outdoor tourist spots stretched across Macau and the Pearl River Delta Region.

The directors of Shun Tak and RoadShow believe that the proposed joint venture will be a success in providing a high-impact advertising medium to advertisers.

Ms Pansy Ho, Managing Director of Shun Tak Holdings Ltd. says: "Macau has a thriving tourism industry with over 10 million visitor arrivals last year and will continue to grow into a gaming, tourism and convention hub in the Greater China Region. There is significant tourist traffic and the best way for advertisers to access them is through the outdoor medium."

Ms Winnie Ng, Group Managing Director of RoadShow Holdings Ltd. states: "We are combining our strengths in this joint venture; Shun Tak will provide the joint venture with their proprietary knowledge in prime outdoor advertising sites and insights to advertisers in Macau, and RoadShow will contribute our expertise in providing media advertising sales and management services." ............. "We are off to an excellent start with the management of the MMOB business of the Shun Tak's high speed ferries and will continue to proactively explore collaboration opportunities on different fronts."

About Shun Tak Holdings Limited
Shun Tak Holdings Limited ("the Group" or "Shun Tak"), established in 1972 and listed on the Hong Kong Stock Exchange Limited since 1973, is a leading conglomerate operating three core businesses: shipping, hospitality and property. The Group's shipping division, operates under the trade name "TurboJet", owns and operates high-speed passenger ferry services between Hong Kong / Kowloon and Macau, Guangzhou and Shenzhen. As the only operator offering 24-hour passenger ferry services between Hong Kong and Macau, Shun Tak's shipping division is the market leader in its Hong Kong and Macau route, enjoying a market share of approximately 90%. It currently operates a fleet of 30 vessels with passenger traffic of 10 million a year. The Group also has interests in two of the most luxurious hotels in Macau, namely the Mandarin Oriental Macau and the Westin Resort Macau, as well as the region's premier golf club, Macau Golf & Country Club. In 2001, the Group was awarded the operational and property management agreement for the Macau Tower Convention & Entertainment Centre. Through its interest in major commercial, residential and retail property development projects, including The Belcher's and the Liberte, Shun Tak is a key player in high quality property market in Hong Kong. The Group currently employs more than 2,000 people in Hong Kong and has established itself as one of the leading conglomerates operating in the Pearl River Delta.

About RoadShow Holdings Limited
RoadShow Holdings Limited is a leading out-of-home media sales company that primarily markets advertising aimed at passengers of transit vehicles through a proprietary Multi-media On-board ("MMOB") system. RoadShow operates Hong Kong's largest MMOB bus service, comprising 2,600 transit vehicles and a daily viewing audience of some two million passengers. RoadShow also manages and markets advertising spaces on the exterior of transit vehicles and advertising displays in transit vehicle shelters and engages in merchandising business in Hong Kong. RoadShow was established by The Kowloon Motor Bus Holdings Limited (" KMB") in 2000 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in June 2001. KMB, Hong Kong's largest public transport company providing franchised public bus services, holds about a 73% interest in RoadShow.