Lisabet Outerbridge with chef Dana Marshall.

Ms Frith founded the coffee house three years ago at the Pitts Bay Marina but moved it to its current location on Reid St. when construction started there.

Ms Outerbridge has been an employee at the cafe for over two years. Ms Frith said she decided to sell because she wanted to pursue other interests. "We both feel it's a perfect transaction,'' Ms Frith said. Ms Outerbridge is planning to expand the coffee shop space and add on a small kitchen so customers can have something to eat while drinking coffee. The company also owns a coffee roaster which it operates from space it rents at Dockyard.

LI TO LEAVE BLUE CHIP COMPANY BUC Li to leave blue chip company Li Ka-shing, chairman of one of Hong Kong's largest real estate developers and among the world's richest people, will step down as his company's managing director at the end of the year.

Li will remain as chairman of Cheung Kong Holdings Ltd., a company spokeswoman said yesterday. She didn't name his successor as managing director.

Li, who is in his late 60s, didn't announce any plans to step down from sister company Hutchison Whampoa Ltd., one of Hong Kong's most powerful conglomerates.

Cheung Kong's shares fell four percent on news of Li's departure.

Saying he had to prepare to give way to the younger generation of managers under him, Li last year began to hand over day-to-day responsibilities to his son, deputy chairman Victor Li Tzar-kuoi.

Last July, Forbes magazine ranked Li the world's 15th richest person and estimated his wealth at $11 billion.