FIRST PACIFIC COMPANY LIMITED FPB BANK HOLDING COMPANY LIMITED CONNECTED TRANSACTION.

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M2 PRESSWIRE-27 December 2000-irasia.com: FIRST PACIFIC COMPANY LIMITED FPB BANK HOLDING COMPANY LIMITED CONNECTED TRANSACTION (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:27122000 FIRST PACIFIC COMPANY LIMITED, FPB BANK HOLDING COMPANY LIMITED (Incorporated in Bermuda with limited liability) (Incorporated in Bermuda with limited liability) CONNECTED TRANSACTION Sale and Purchase of Investment Interest First Pacific and the Bank have entered into an agreement on 20 December 2000 for the transfer of the Bank's interest in China Investment, whose primary asset is the China Club, in Hong Kong.

Such transfer constitutes a connected transaction of both Holdco and First Pacific under Chapter 14 of the Listing Rules. The Boards of Directors of both First...