The Hong Kong Press Club, the much-missed cheap and twisted sister of the Foreign Correspondents' Club, has reopened in Central. Famous for low-cost beers and late-night indiscretions, the club - previously located beneath a Wan Chai love hotel - closed with debts of $1.4 million in 1997. But now, thanks to media stalwart Ted Thomas and landlord Kevin McBarron, it has reopened in a back room at Hutchison House's Caledonia Pub. Beers - at $10 a bottle - are cheaper than ever, and the club has a genius business plan. 'We won't offer credit,' said Thomas. The joining fee is just $250 with another $250 annual fee. This compares with the FCC's $10,000 joining fee and $1,000 monthly dues. It is believed the new club's opening was not nearly as ostentatious as that of the original in 1978 (below), when Taoist rites were performed. Applications for membership should be sent to 103 Ridley House, 2 Upper Albert Road, Central, Hong Kong, or e-mailed to HK Press Club at firstname.lastname@example.org .