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Hang Lung Properties guarantees US$3B note program

said itwill serve as the guarantor for HLP Finance Ltd.'s issuance of bonds under a US$3.00billion medium-term note program.

The noteprogram is expected to be listed in Hong Kong, effective May 5.

HLP willissue the bonds for a 12-month period after May 4 by way of debt issues only toprofessional investors.

Hongkongand Shanghai Banking Corp. Ltd. is acting as the program's arranger.

HLP isa company incorporated in the British Virgin Islands and serves as the developer'sspecial purpose vehicle.In 2012, it previously issuedHK$225 million 3.55% guaranteed notes due 2022 under a US$3 billion medium-termnote program.