New World Group and its Employees Donate over HK$4.2 million to Support Relief Operations in Tsunami-hit South Asian Countries

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New World Group and its Employees Donate over HK$4.2 million to Support Relief Operations in Tsunami-hit South Asian Countries

New World Development Company Limited ("New World Group" or "the Group") (Hong Kong stock code: 0017) today announced that the Group and its employees have raised a total of over HK$4.2 million in support of relief operations in countries devastated by tsunamis in South Asia. Of that amount, HK$1.7 million was raised from Group staff in Hong Kong and Mainland China in just two weeks, following the Group's earlier call for donation among its employees. Another HK$1.7 million is to be contributed by the Group, which has pledged to match, dollar for dollar, the donation made by its staff. The rest was corporate donation by Group companies. The total sum raised will be used in the relief work of UNICEF and other aid organizations in countries affected by the deathly tsunamis.

Commenting on the Group staff's encouraging support of the Group's donation appeal, Dr Henry Cheng Kar-shun, Managing Director of the New World Group, said, "we are very heartened by the outpourings of support from our staff in Hong Kong and Mainland China. They have demonstrated exemplary kind-heartedness, generosity and unity in helping the tsunami victims through these difficult times.

In early January, staff of the Group's business units acted on the Group's appeal for donation to UNICEF's relief work in countries worst hit by the tsunami disaster, raising HK$1.7 million in a short span of two weeks. The Group will soon contribute the same amount to UNICEF's relief efforts in fulfilling its earlier pledge for a matching donation. In the same spirit of mutual care and concern, NWS Holdings Limited, New World First Bus/Citybus and other Group subsidiaries have made a corporate donation of HK$837,000 to assist in relief efforts for tsunami victims by aid organizations."

UNICEF will deploy the funds donated in the provision of such essential supplies as sleeping mats, medicines, blankets, water purification tablets, oral rehydration salts and water tanks, for tsunami-struck countries badly in need of humanitarian aid, to help ease the plight facing millions of victims in areas of sheltering, water supply, medical care and hygiene.