Director of Lands Bob Pope says the Government has set aside $2.4 billion to cover compensation for holders of outstanding land exchange entitlements. Mr Pope said all traceable entitlements had been redeemed, mainly from the four major developers, and only certificates representing 648,530 square feet were eligible for cash compensation after June 27. Sun Hung Kai Properties, Nan Fung Development, Henderson Land Development and Chinachem Group were the major holders of the certificates. Mr Pope said those developers soon would no longer enjoy the advantage of using the certificates to buy land at cheaper rates. All developers would now be on a level playing field, he said. The entitlements, commonly known as Letter A and Letter B certificates, were issued between 1960 and 1983 to New Territories landowners whose property was acquired for development.