Hong Kong, September 10, 2002 - Leading jeweller Hang Fung Gold Technology Limited (SEHK: 870) announces that the Company had entered into an exclusive franchising agreement with Shandong Luneng Commercial Trading Company Limited （山東魯能商貿有限公司）for the establishment of "3D-GOLD" （金至尊）retail outlets in Shandong Province, China.

The first franchised "3D-GOLD" shop in Shandong was opened on September 8, 2002 in Jinan at a prime shopping location. To fully leverage the brand equity of "3D-GOLD", Shandong Luneng is embarking on an active network rollout in the province, which includes a first phase of ten franchised outlets in two years.

In addition to the establishment of a large-scale production base in China, Hang Fung Gold Technology is also actively developing its retailing business in the country, which currently comprises more than 30 "3D-GOLD" shops in Beijing, Shanghai, Guangzhou and other major cities. The partnership with Shandong Luneng, a major retailing and trading window of the esteemed Luneng Group of Shandong, will further strengthen the Group's position in the province.

Dr Lam Sai Wing, Chairman, Hang Fung Gold Technology said: "We are honoured to be able to partner with Shandong Luneng. The thriving economy of China and rising living and consumption standards of her people are all positive indicators for our retailing business. We are highly optimistic of this market."

To capture the consumption boom during the October golden week, Hang Fung Gold Technology is opening another new concept store in Beijing by the end of September, extending the Group's Greater China network to a new front. In Hong Kong, the Group expects its flagship "3D-GOLD" Tourism Exhibition Hall to receive over 10,000 visitors per day during the coming National day holiday, with an anticipated six-fold surge in revenues during the period. To cope with increasing patronage, the Group has acquired 30,000 sq ft of additional space for expansion of the hall.

"The tourism hall in Hong Kong has been a huge success since its opening. Last year, it received over 1 million Mainland visitors. We plan to unlock the value of this highly visible brand and tap further into the Mainland market," said Dr Lam.

The Group will also incorporate in the new hall such unique tourist spots as the highly popular golden washroom, with a view to sustaining the Group's innovative edge in its tourist-focused retailing business. It is also a part of the Group's business initiatives to advance the SAR's tourism industry.

About Hang Fung Gold Technology
Hang Fung Gold Technology Limited (SEHK: 870) is a leading jewellery manufacturer in Hong Kong with production facilities in Hong Kong and Shatoujiao, and a staff of over 2,000. The Group has achieved ISO 9001:2000 quality accreditation for its entire design, production, sales, distribution and retailing processes. With a heritage of over 20 years and numerous award-winning designs, the Group has established a solid reputation worldwide as a leading manufacturer of gold, jewellery and precious metal products. As part of its business development initiatives, the Group has recently diversified into tourism-focused retailing businesses, and has introduced two highly popular house brands - "3D-GOLD" and "La Milky Way".

About Shandong Luneng Commercial Trading
Shandong Luneng Commercial Trading was founded in December 1996 as a major retailing and trading subsidiary of the renowned Shandong Luneng Group. The company operates a diverse range of commerce, trading, warehousing, delivery, catering and property management businesses.

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