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JIC Invests in Three New Alternative Energy Projects
Date:4/22/2008

to develop wind power project with generation capacity of approximately 49.5 MW in the Siziwang Qi area in Inner Mongolia with target operation date set in 2008; investing in a joint venture with CECIC to operate a 200MW wind power plant in Hebei Province; investing in a wind power plant in Gansu Province by establishing a joint venture with CECIC with generation capacity of 200MW and investing in a joint venture waste-to-energy plant with a 25 MW output capacity in Shandong which commenced operation in September 2007.

"As the Chinese economy continues to thrive and the Chinese government steps up effort to encourage clean energy consumption, demand for alternative energy is going to rise. Apart from strong potential demand for biofuel, the sector has high entry barriers which puts us in a prime position to capture the rising opportunities. The market trend and nature of the industry both work in favour of the Group's alternative energy business. We are confident of becoming a major alternative energy enterprise in Mainland China," Mr. Oei concluded.

About J.I.C. Technology Company Limited (stock code: 987)

In March 2008, 74.99% interest of J.I.C. Technology Company Limited was acquired by HKC (Holdings) Limited. Following that, all HKC (HOLDINGS)'s new investment in the alternative energy business will be conducted through JIC. The Company is to be renamed as Hong Kong Energy (Holdings) Limited. For more information, please visit website: http://www.hkenergy.com.hk .

About HKC (Holdings) Limited (stock code: 190)

HKC (Holdings) Limited is principally engaged in property development and investment activities with a primary focus in the PRC. It is also one of the leading providers of alternative energy in the PRC. In October 2007, Cerberus Asia Capital Management, LLC has become the Group's second largest shareholder. In March 2008, the Group acquired 74.99% interest in J.I.C.
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SOURCE JIC - to be renamed as Hong Kong Energy (Holdings Limited)
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