09:41     DB-HSBC @EP0501<02194> & DB-PCCWL@EC0501<02199> - Ann. (2)          

    The Issuer has made the following arrangements regarding dealings in      
    and transfers and exercise of the Warrants:-                              
                                                                              
    1.   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 Rooms    
         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.                                                
                                                                              
    2.   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         Stock Exchange to be withdrawn with effect from the close of business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 relevant Expiry Date.                                         
                                                                              
    Hong Kong, 19th January, 2005