CAPITAL ESTATE<00193> - Unusual price & volume movements


The Stock Exchange has received a message from Capital Estate 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 increases in the trading price and trading  
volume of the shares of the Company and wish to state that we are not 
aware of any reasons for such increases.

Save for the joint announcement dated 5 January 2005, we confirm that 
there are no negotiations or agreements relating to intended acquisitions 
or realizations which are discloseable under rule 13.23, neither is the 
Board aware of any matter discloseable under the general obligation 
imposed by rule 13.09, which is or may be of a price-sensitive nature.

Made by the order of the Board of Capital Estate Limited, the directors of 
which individually and jointly accept responsibility for the accuracy of 
this statement.


Ma Wai Man, Catherine
Company Secretary

6 January, 2005

Executive Directors:-

Choo Yeow Ming (Executive Chairman)
Ng Kai Man, Luke (Deputy Chairman)
Ma Wai Man, Catherine 
Chow Hou Man

Independent Non-Executive Directors:-
Miu, Frank H. 
Sin Chi Fai"