Kingston Wharves Ltd. (KW) – Interim Dividend

At a meeting of the directors it was resolved that an interim dividend be paid on December 31, 1998 to stockholders on record as at December 24, 1998 and that the payment be made as follows:

One cent (net) per stock unit out of franked income and

One and three quarter (1.75) cents per stock unit (less income tax ) out of unfranked income.

The directors also agreed to recommend to the stockholders at an Extra-ordinary meeting to be held on December 4, 1998 that the authorised share capital of the company be increased from $100 million to $140 million by the creation of 200 million shares and for a one for three bonus with record date of December 21, 1998.