09:54     <09814>, <09925> & <09890> - Announcement (2)                       

    and transfers and exercise of the Warrants:                               
                                                                              
    1.  The last trading day of the Warrants on the Stock Exchange is         
    expected to be 12th January, 2005.                                        
                                                                              
    2.  In order to facilitate the transfer and exercise of Warrants by       
    holders of Warrants who have not registered such Warrants in their own    
    names, the following arrangements have been made with Computershare       
    Hong Kong Investor Services Limited (the "Registrar"). Holders of         
    Warrants who have not registered such Warrants in their names and wish    
    to exercise the Warrants should lodge with the Registrar at Shops         
    1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Hong       
    Kong at or before 10:00 a.m. (Hong Kong time) on the Expiry Date the      
    following:-                                                               
                                                                              
    (i)  the relevant duly executed instruments of transfer in respect of     
    the Warrants; and                                                         
                                                                              
    (ii)  the relevant certificates for the Warrants.                         
                                                                              
    Such holders of Warrants may need to bear the cost of any expedited       
    registration service.                                                     
                                                                              
    3.  Application will be made for the listing of the Warrants on the       
    Stock Exchange to be withdrawn with effect from the close of business     
    on the Expiry Date.                                                       
                                                                              
    The closing prices of each series of Warrants and of the shares to        
    which Series A, Series B and Series C relate and as quoted on the Stock   
    Exchange on 5th January, 2005 are set out below. The Exercise Price of    
    each series is also set out below.                                        
                                                                              
                                                Closing                       
                           Closing Price   Price of the                       
    Series of Warrants        of Warrant  related share  Exercise Price       
                                                                              
    A                           HK$0.072       HK$4.875        HK$4.988       
    B                            HK$0.01      HK$24.700        HK$20.88       
    C                            HK$2.80     HK$130.500       HK$106.88       
                                                                              
    Hong Kong, 6th January, 2005