SECURITIES (DISCLOSURE OF INTERESTS) DAILY SUMMARIES - (GEM)                         PRINTED: 08/01/03  PAGE:   1
                                                        DIRECTORS'/CHIEF EXECUTIVES' NOTIFICATIONS REPORT - B
                                                            (GRANTS, ASSIGNMENTS AND EXERCISES OF RIGHTS)

 STOCK NAME : CR Asia                        (08052)

       Director/Chief Executive        G/E     Class                 Company Name                 Quantity       Exercise Period   Ex. Price  Consideration       Note
 ------------------------------------  --- ---------------  -------------------------------  ------------------  ---------------  ---------- ---------------  -----------
 FUNG KWOK KING VICTOR                  G  ORD              LI & FUNG (DISTRIBUTION) LTD.             160,000                         1.000                0             

                                        G  ORD              LI & FUNG (DISTRIBUTION) LTD.             130,000                         1.000                0  N1         

                                                                     *****  END OF REPORT  *****

NOTE


N1      Out of the share options to subscribe 130,000 full voting ordinary
        shares of US$0.01 each in Li & Fung (Distribution) Limited ("LFD
        Shares"), options in respect of a further 24,500 LFD Shares were
        vested on 31st December 2002; as a result of which, options in
        respect of a total of 105,500 LFD Shares are fully vested in
        Dr. Fung Kwok King, Victor.  The remaining share options are to
        be vested in Dr. Fung Kwok King, Victor on 31st December 2003.