May 16, 2001


Immediate Release



Excel Technology Provides

Versatile Human Resources Management Systems To

Cheung Kong Subsidiaries

Citybase And Goodwell Property Management Companies




(May 16, 2001, HONG KONG) Excel Technology International (Hong Kong) Limited ("Excel Technology"), a wholly owned subsidiary of Excel Technology International Holdings Limited (stock code: 8048) is pleased to announce that it has signed agreements with Cheung Kong (Holdings) Ltd's wholly owned subsidiaries, Citybase Property Management Limited ("Citybase") and Goodwell Property Management Limited ("Goodwell") for the provision and implementation of "Excel-HRMS", the human resources management system developed by Excel Technology to further enhance the two property management companies' productivity and maximize their operational efficiency.


According to the agreement, Excel Technology will customize the Excel-HRMS system, for both Citybase and Goodwell, based on the human resources management requirements of the two property management companies. It is expected that the implementation of Excel-HRMS for both Citybase and Goodwell will take place in the fourth quarter of 2001.


"Excel-HRMS" is a comprehensive, reliable and advanced human resources management software system with applications which include personnel records, payroll formula, taxation administration, leave and attendance records, training and development reports, as well as mandatory provident fund calculations. The "Excel-HRMS" software programme is parameter driven to suit individual company's needs and is modular in design to cater for any future changes in the concerned company's policies and/or statutory requirements.


Mr. Justin Chiu, Executive Director of Cheung Kong (Holdings) Limited, said, "Property management is a people-oriented business. Effective human resources planning and management not only can enhance operational efficiency and productivity but can also promote business expansion. Our Group's subsidiaries, Citybase and Goodwell property management, have received many awards related to quality personnel management including 'Employers' Gold Star Award', 'Employers' Gold Star Award-Platinum Grand Award' and 'Good People Management Award'. We look forward to more streamlined administration procedures and more cost-efficient allocation of manpower and resources brought about by the technologically advanced and highly flexible 'Excel-HRMS' system."


Ms. Peggy Chan, Chairman and CEO of Excel Technology, commented, "We recognize that success comes for those who are wise enough to envision the needs of tomorrow's market. Effective human resources management is the key to companies' success and growth. Throughout the years, our HRMS have become one of the most comprehensive HR software products catering to meet the diverse HR management needs of different companies. Like others, Citybase and Goodwell have chosen our HRMS as the HR solution for its high level of flexibility, reliability and security control. We are happy to see that both companies use our product and services to attain operational efficiency so as to free themselves to be more focus on their core operations. We hope that this cooperation is the beginning of many more to come for the Cheung Kong group of companies for the serving of their systems' needs."