08:50     Closing Bid and Ask Quotes in London                                

                                                                              
    Closing bid and ask quotes on 30 November 2004 as quoted by SEAQ (London) 
    are as follows:                                                           
                                                                              
    (HK$)                BID      ASK    (HK$)                BID      ASK    
    BEIJING YANHUA   :    -       3.05   HOPEWELL HOLD    :  19.70       -    
    BANK OF E ASIA   :    -      25.06   HSBC HOLDINGS    :    -        -     
    BOC HONG KONG    :  14.24      -     HUANENG POWER    :    -        -     
    CATHAY PAC AIR   :    -        -     HUTCHISON        :    -        -     
    CHEUNG KONG      :    -        -     HYSAN DEV        :    -      16.20   
    CHINA RESOURCES  :    -        -     JOHNSON ELEC H   :    -        -     
    CHINA MOBILE     :  24.81      -     LENOVO GROUP     :    -        -     
    CHINA TELECOM    :   2.80      -     LI & FUNG        :    -        -     
    CHINA UNICOM     :    -        -     MTR CORPORATION  :  12.09    12.71   
    CITIC PACIFIC    :    -        -     NEW WORLD DEV    :    -       8.97   
    CKI HOLDINGS     :    -        -     NEW WORLD TMT    :    -        -     
    CLP HOLDINGS     :    -        -     PCCW             :    -        -     
    CNOOC            :    -        -     SCMP GROUP       :   3.17      -     
    DATANG POWER     :    -        -     SHANGHAI IND H   :  15.31      -     
    ESPRIT HOLDINGS  :    -        -     SHANGHAI PECHEM  :    -       2.97   
    FIRST PACIFIC    :    -        -     SHANGRI-LA ASIA  :    -        -     
    GREAT EAGLE H    :  18.04      -     SMARTONE TELE    :    -        -     
    GUANGSHEN RAIL   :    -       2.84   SHK PPT          :    -        -     
    HANG LUNG GROUP  :    -      14.97   SINO LAND        :   7.26      -     
    HANG LUNG PPT    :    -      12.45   SWIRE PACIFIC A  :    -        -     
    HANG SENG BANK   :    -        -     TRACKER FUND     :    -        -     
    HENDERSON LAND   :    -        -     WHARF HOLDINGS   :    -        -     
    HK & CHINA GAS   :    -        -     WHEELOCK         :    -      13.17   
    HK ELECTRIC      :    -        -     ZHEJIANGEXPRESS  :    -        -