08:47     Closing Bid and Ask Quotes in London                                

                                                                              
    Closing bid and ask quotes on 23 January 2003 as quoted by SEAQ (London)  
    are as follows:                                                           
                                                                              
    (HK$)                 BID      ASK    (HK$)                 BID      ASK  
    BEIJING DATANG   :    -        -      HOPEWELL HOLD    :   6.00     6.25  
    BEIJING YANHUA   :   0.91     1.16    HSBC HOLDINGS    :  85.00    86.00  
    BANK OF E ASIA   :  13.80    14.30    HUTCHISON        :  49.75    51.75  
    CATHAY PAC AIR   :  11.40    11.90    HYSAN DEV        :   5.65     6.15  
    CHEUNG KONG      :  50.00    52.50    JOHNSON ELEC H   :   9.00     9.50  
    CHINA RESOURCES  :   7.00     7.50    LEGEND HOLD      :   3.00     3.25  
    CHINA MOBILE     :  18.80    19.45    LI & FUNG        :   7.65     8.15  
    CHINA UNICOM     :   5.65     6.00    MTR CORPORATION  :   8.30     8.80  
    CITIC PACIFIC    :  15.40    16.30    NEW WORLD DEV    :   3.75     4.25  
    CKI HOLDINGS     :  13.50    14.00    NEW WORLD INFRA  :   0.63     0.80  
    CLP HOLDINGS     :  31.00    32.00    SCMP GROUP       :   3.15     3.40  
    CNOOC            :   9.95    10.70    SHANGHAI IND H   :  11.45    12.05  
    ESPRIT HOLDINGS  :  13.50    15.50    SHANGHAI PECHEM  :   1.27     1.37  
    FIRST PACIFIC    :   0.65     0.90    SHANGRI-LA ASIA  :   5.25     5.50  
    GREAT EAGLE H    :   4.55     5.05    SMARTONE TELE    :   8.40     8.90  
    GUANGSHEN RAIL   :   1.35     1.45    SHK PPT          :  44.25    46.90  
    HANG LUNG GROUP  :   6.55     6.80    SINO LAND        :   2.30     2.70  
    HANG LUNG PPT    :   7.45     7.70    SWIRE PACIFIC A  :  31.55    32.55  
    HANG SENG BANK   :  83.00    85.50    TRACKER FUND     :   9.45     9.90  
    HENDERSON LAND   :  23.50    24.50    WHARF HOLDINGS   :  15.90    16.45  
    HK & CHINA GAS   :   9.85    10.35    WHEELOCK         :   5.45     5.95  
    HK ELECTRIC      :  29.90    30.90    ZHEJIANGEXPRESS  :   3.15     3.30