10:36     <03824>,<03825>,<03826>,<03827> & <03829> - Announcement (3)        

    Warrant 3:                                                                
    Company:        China Mobile (Hong Kong) Limited                          
    Shares: Existing issued ordinary shares of HK$0.10 each of the            
    Company                                                                   
    Type:   Call                                                              
    Issue Size:     400,000,000                                               
    Launch Date:    18 January, 2005                                          
    Issue Date:     21 January, 2005                                          
    Issue Price:    HK$0.25                                                   
    Expiry Date:    25 July, 2005                                             
    Exercise Price: HK$23.48                                                  
    Board Lot:      5,000 Warrants                                            
    Exercise Amount:        10 Warrants                                       
    Entitlement:    1 Share                                                   
    Premium:        6.69%                                                     
    Gearing:        9.74x                                                     
    Effective Gearing:      5.84x                                             
    Implied Volatility:     30.00%                                            
    Listing Date:   25 January, 2005                                          
    Liquidity Provider Broker ID Number:    9509                              
                                                                              
    Warrant 4:                                                                
    Company:        Ping An Insurance (Group) Company of China Limited        
    Shares: Existing issued ordinary H shares of RMB1.00 each of the          
    Company                                                                   
    Type:   Call                                                              
    Issue Size:     400,000,000                                               
    Launch Date:    18 January, 2005                                          
    Issue Date:     21 January, 2005                                          
    Issue Price:    HK$0.25                                                   
    Expiry Date:    19 June, 2006                                             
    Exercise Price: HK$12.28                                                  
    Board Lot:      5,000 Warrants                                            
    Exercise Amount:        10 Warrants                                       
    Entitlement:    1 Share                                                   
    Premium:        15.02%                                                    
    Gearing:        5.14x                                                     
    Effective Gearing:      3.34x                                             
    Implied Volatility:     35.00%                                            
    Listing Date:   25 January, 2005                                          
    Liquidity Provider Broker ID Number:    9509                              
                                                                              
    Warrant 5:                                                                
    Index:  Hang Seng China Enterprises Index                                 
    Type:   Call                                                              
    Launch Date:    18 January, 2005                                          
    Issue Size:     400,000,000                                               
    Issue Price:    HK$0.25                                                   
    Issue Date:     21 January, 2005                                          
    Expiry Date:    29 November, 2005                                         
    Closing Level:  Final settlement price for settling the H-Shares          
    Index November 2005 Futures Contracts                                     
    Strike Level:   4,300                                                     
    Board Lot:      10,000 Warrants                                           
    Entitlement Ratio:      2,500 Warrants for one Index                      
    Premium:        6.75%                                                     
    Gearing:        7.38x                                                     
    Effective Gearing:      4.72x                                             
    Implied Volatility:     30.00%                                            
    Listing Date:   25 January, 2005                                          
    Liquidity Provider Broker ID Number:    9559