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01 Nov 2006
Swire Pacific Limited Reopened and Increased its US$ 5.625% Eurobond Issue

Swire Pacific Limited ("Swire") is pleased to announce that its wholly-owned subsidiary Swire Pacific MTN Financing Limited has priced the reopening of its US$360 million 5.625% Eurobond issue due on 30 March 2016 (the "Notes"). The Notes are unconditionally and irrevocably guaranteed by Swire Pacific Limited.

The offering was well received by Asian and European investors and generated momentum within the first few hours after the reopening was announced. The issue size will be US$240 million, giving a total of US$600 million.

The reoffer price at the reopening of US$240 million has been set at 100.479% to yield 94 basis points over 4.618% yield on the US Treasury notes due on 15 August 2016. Interest on the Notes is payable semiannually. Swire intends to use the proceeds from the reopening of the Notes for general corporate funding. HSBC and Morgan Stanley act as the Joint Bookrunners for the reopening.

Commenting on the reopening, Swire Pacific Limited's Group Finance Director Martin Cubbon said, "the reopening was well-timed, allowing us to achieve a highly attractive level of funding while meeting our objective of swift execution. We are very pleased with the positive reception by international institutional investors. The reopening has resulted in a well oversubscribed orderbook and final pricing inside the initial price guidance."

Swire Pacific Limited is one of Hong Kong's leading listed companies, with diversified interests in five operating divisions: Property, Aviation, Beverages, Marine Services and Trading & Industrial. The company's operations are predominantly based in the Greater China region, where the Swire group has been established for over 130 years.