Worldsec Limited - Acquisition

RNS No 0676h
WORLDSEC LIMITED
23rd December 1997

WORLDSEC LIMITED ("Worldsec")

WORLDSEC ACQUIRES BROKING BUSINESS IN HONG KONG

Worldsec today announces that it has entered into a conditional
agreement to acquire the securities broking business of Jin
Loong Securities Company Limited and the futures broking
business of Jin Loong Futures Limited for a total consideration
of approximately HK$25 million (equivalent to approximately
US$3.23 million) as a means to expand its equity and futures
broking businesses in Hong Kong.

Jin Loong Securities Company Limited and Jin Loong Futures
Limited (together "Jin Loong") are members of The Stock
Exchange of Hong Kong Limited and The Hong Kong Futures
Exchange Limited respectively.

The conditions to closing the transaction are satisfactory
completion of due diligence by Worldsec, finalisation of all
documentation and the receipt of all regulatory approvals.  It
is expected that all conditions will be fulfilled by mid-
January 1998 except for the approval from The Stock Exchange of
Hong Kong Limited which is expected to be obtained by March
1998.

The consideration will be satisfied as to approximately HK$14.5
million (equivalent to approximately US$1.87 million) by cash
and as to approximately HK$10.5 million (equivalent to
approximately US$1.36 million) by issuing new ordinary shares
in Worldsec to Jin Loong at US$2.90 per share

For further information, please contact:

Paul Cheng in Hong Kong                 Tel: (852) 2867 7288

Alastair Gunn-Forbes    in the United Kingdom       Tel: (44 171) 972 0880


END

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