GREAT CHINA<0141> - Announcement

The Stock Exchange of Hong Kong Limited takes no responsibility for 
the contents of this announcement, makes no representation as to 
its accuracy or completeness and expressly disclaims any liability 
whatsoever for any loss howsoever arising from or in reliance upon 
the whole or any part of the contents of this announcement.

Great China Holdings Limited
(Incorporated in Hong Kong under the Companies Ordinance)

Announcement

Change of Financial Year End

The Directors of the Company announce that the Company's current 
financial year end will be changed from 30th September, 1999 to 31st 
December, 1999 to cover a period of fifteen months from 1st October, 
1998. In the future, the financial year will begin from 1st January 
and end on 31st December each year.

The adoption of "31st December" as the financial year end will 
result in the Group's accounting date being co-terminous with that 
of its subsidiaries and associated companies in the PRC where "31st 
December" is the mandatory reporting date. This change will 
streamline the reporting process and reduce the costs relating 
thereto.

Accordingly, a second interim report for the six months ending 30th 
September, 1999 will be published on or before 31st December, 1999 
and an audited report for the fifteen months ending 31st December, 
1999 will be prepared and published on or before 31st May 2000 in 
accordance with the listing rules of The Stock Exchange of Hong Kong 
Limited.

By Order of the Board
Chiang Lai Yung
Secretary

Hong Kong, 24th June, 1999