The Shenzhen Dachan Bay Modern Port Development Co. Ltd. Joint Venture Agreement Signing Ceremony was held in Shenzhen today (19 July 2005). Picture at the Ceremony are (front row from left) Mr. Erik Bøgh Christensen, Senior Director of Modern Terminals and Mr. Shi Yousheng, Administrative Vice General Manager, Shenzhen Dachan Bay Port Investment and Development Company. (Back row from left) Mr. Tang Jie, Secretary-general of Shenzhen; Mr. Zhang Siping, Vice Mayor of Shenzhen; Mr. Xu Zongheng, Mayor of Shenzhen; Mr. Peter Woo, Chairman of The Wharf (Holdings) Ltd. and Modern Terminals Limited; and Mr. Wang Xuewei, Party Secretary of Bureau of Trade and Industry of Shenzhen Municipality.

The joint-venture company will be responsible for the development and operation of the five-berth Phase I of Shenzhen Dachan Bay Container Terminals. Modern Terminals holds a 65% share interest, while several entities under the Shenzhen Municipal State-owned Investment Management Organization hold the rest of the shares. Phase 1 of Shenzhen Dachan Bay Container Terminals is scheduled to come on stream in the fourth quarter of 2007.

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Issued by Modern Terminals Limited

For further information, please contact:
Joel Cheung, Corporate Affairs Manager
Tel: +852 2115 3640
Email: cad@ModernTerminals.com
Website: www.ModernTerminals.com