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STANLEY HO’S SISTER TRIES AGAIN TO BLOCK SJM LISTING

July 15, 2008

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Winnie Ho, sister of casino entrepreneur Stanley Ho filed a court appeal Friday in another attempt to block the listing of his casino flagship, SJM Holdings Ltd., in Hong Kong.

Winnie Ho said in a statement that she filed an appeal with the Court of Appeal in Hong Kong to seek a judicial review of SJM's listing, as well as an injunction to stop it. The attempt was the latest chapter in her long-running dispute with her brother that has included more than 30 court filings in Macau, where Stanley Ho owns his casinos, and in Hong Kong.

Court of First Instance in Hong Kong on July 9 rejected Ms. Ho's application, saying her case was “not reasonably arguable and does not have a realistic prospect of success.”

Stanley Ho raised $494 million from selling shares in SJM last week and had planned to list the company on the Hong Kong Stock Exchange on July 10. But SJM said last week the debut would be delayed until this Wednesday in the face of the legal action.

Winnie Ho has contended she was shortchanged when SJM’s parent, Sociedade de Turismo e Diversoes de Macau, or STDM, transferred assets into SJM.

SJM CEO Ambrose So has said the listing would go ahead, according to the Wall Street Journal.



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