09:41     FB-BOCHK@EC0506<09736> - Announcement (1)                           

    This announcement appears for information purposes only and does not      
    constitute an invitation or offer to acquire, purchase or subscribe for   
    the Warrants described below.                                             
                                                                              
    The Stock Exchange of Hong Kong Limited (the "Stock Exchange") takes no   
    responsibility for the contents of this announcement, makes no            
    representation as to its accuracy or completeness and expressly           
    disclaims any liability whatsoever for any loss howsoever arising from    
    or in reliance upon the whole or any part of the contents of this         
    announcement.                                                             
                                                                              
    Second Further Issue                                                      
    of                                                                        
    1,400,000,000 European Style (Cash Settled) Call Warrants 2004-2005       
    relating to the existing issued ordinary shares of HK$5.00 of BOC Hong    
    Kong (Holdings) Limited                                                   
                                                                              
    issued by                                                                 
                                                                              
    FORTIS BANK S.A./N.V.                                                     
    (Incorporated in Belgium)                                                 
                                                                              
    Sponsor                                                                   
                                                                              
    ICBC (Asia) Securities Limited                                            
    (Formerly known as Fortis Securities Asia HK Limited)                     
                                                                              
    Announcement                                                              
                                                                              
    The directors of Fortis Bank S.A./N.V. (the "Issuer") announce their      
    intention to further issue the series of Warrants detailed below (the     
    "New Warrants"). The New Warrants will, from their date of issue, be      
    consolidated and form a single series with an existing issue of           
    1,288,000,000 European Style (Cash Settled) Call Warrants 2004-2005       
    (Stock Code: 9736) relating to the existing issued ordinary shares of     
    HK$5.00 each of BOC Hong Kong (Holdings) Limited (the "Original           
    Warrants", together with the New Warrants, the "Warrants"). The closing   
    price of the Original Warrants on 3rd January, 2005 was HK$0.092.         
                                                                              
    The terms and conditions of the New Warrants are identical in all         
    material respects to the terms and conditions of the Original Warrants.   
    Every Exercise Amount of each Warrant relates to one ordinary share of    
    the par value specified below (the "Shares") of the company specified     
    below (the "Company").                                                    
                                                                              
                  Exercise            Par                                     
    Call/Put      Amount            Value   Company                           
                                                                              
    Call          10 Warrants     HK$5.00   BOC Hong Kong                     
                                            (Holdings) Limited                
                                                                              
                                 Trading                                      
       Issue                       Board      Exercise                        
       Price    Expiry Date         Lots         Price                        
                                                                              
    HK$0.092    28th June, 2005    5,000      HK$15.08                        
                                                                              
    The Warrants are European style and may only be exercised on the          
    relevant Expiry Date.                                                     
                                                                              
    The Warrants are in registered form and exercisable only in the trading   
    board lots specified above. Every Exercise Amount will entitle the        
    holder on exercise thereof to receive from the Issuer a payment of an     
    amount in Hong Kong dollars calculated by the Issuer (the "Cash           
    Settlement Amount") equal to (1) the Entitlement (as defined in the       
    terms and conditions of the Warrants) (subject to adjustment)             
    multiplied by the arithmetic mean of the closing price of one Share (as   
    derived from the Daily Quotation Sheet of the Stock Exchange (subject     
    to any adjustment)) for each Valuation Date (being each of the five       
    Business Days (as defined in the terms and conditions of the Warrants))   
    immediately preceding the Expiry Date less (2) the Exercise Price; less   
    (3) the Exercise Expenses (as defined in the terms and conditions of      
    the Warrants). For the avoidance of doubt, if the Cash Settlement         
    Amount is a negative figure, it shall be deemed to be zero.               
                                                                              
    If on the Expiry Date, the Cash Settlement Amount is greater than zero,   
    the Warrants will be automatically exercised (without notice being        
    given by the holders of the Warrants) and the Issuer or its agent will    
    pay to such holders an amount calculated in the manner described above.   
                                                                              
    The Warrants will not be offered, transferred or sold as part of the      
    initial distribution, or at any time thereafter, to or for the benefit    
    of any persons resident, incorporated, established or having their