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Green Island Cement Honored by
Asia Pacific Business Leaders


17 May, 1999 -- Hong Kong

Green Island Cement (Holdings) Ltd. of Hong Kong was honored today for its outstanding contributions to the global environment at the 32nd International General Meeting (IGM) of the Pacific Basin Economic Council (PBEC). Green Island received the first annual PBEC Environmental Award during a special ceremony at the opening session of the IGM. The annual conference brings together leading business executives, heads of government, and governmental ministers from throughout Asia, the Pacific, and the Americas.

Green Island Cement is a division of CKI Materials, the materials arm of publicly listed Cheung Kong Infrastructure Holdings Ltd. The company is primarily engaged in the production and distribution of construction materials in Hong Kong SAR and the Guangdong Province of the PRC.

Green Island has been a leader in developing a comprehensive approach to environmental policy. As part of this long term strategy, the company has integrated its production process with waste recycling in order to minimize its impact on the environment. The scope and diversity of the company's environmental activities is particularly noteworthy. Green Island has established programs to develop and utilize alternative fuel sources, reduce waste and emissions, and employ recycled and waste materials as substitutes for raw materials. The company has earned high praise for its sustained and far-reaching contributions to environmental preservation.

The PBEC Environmental Award honors PBEC member companies that have made particularly outstanding contributions to global environmental protection. Presentation of the award reflects PBEC's commitment to promoting environmentally responsible business practices. By honoring these companies, PBEC hopes that their achievements will become broadly recognized by the international community, and will serve as a model for others to follow.

PBEC's International General Meeting is an opportunity for the region's foremost corporate executives to gather with other international leaders to discuss, in a frank and intimate setting, the key issues in the regional economy, and to publicly issue policy recommendations and statements. The IGM typically includes major addresses given by heads of government, governmental ministers, leaders of prominent international organizations, and senior executives of some of the largest corporations in the region.


About PBEC:

PBEC is an international association of senior business leaders representing more than 1,100 major corporations in 20 economies around the Pacific, which account for more than US$4 trillion in global sales and employ more than 10 million people.

PBEC is a forum through which business leaders create new business relationships, exchange views with government officials, and produce recommendations on key business issues.

The unprecedented scope of PBEC's membership constitutes a broad and balanced reservoir of international business knowledge, unmatched in credibility and expertise. PBEC is the independent voice of business in the Pacific.


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