CAPITAL ESTATE<00193> - Unusual price movement

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 decrease in the trading price of the shares of 
the Company and wish to state that we are not aware of any reasons for 
such decrease.

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

7 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"