08:58     New Listing in Derivative Warrants                                  

    Market participants are requested to note that dealings in the            
    derivative warrants listed below will commence at 9:30 a.m. on            
    Tuesday, 25/01/2005 under the following particulars:-                     
                                                                              
    Issuer: SGA Societe Generale Acceptance N.V.                              
    Stock Code   Stock Short Name   Board Lot Size                            
    ----------   ----------------   --------------                            
    03824        SG-BOCHK@EC0612    5,000 Units                               
    03825        SG-CLIFE@EC0507    1,000 Units                               
    03826        SG-CMOB@EC0507C    5,000 Units                               
    03827        SG-PINAN@EC0606    5,000 Units                               
    03828        SG-HSCEI@EC0507    10,000 Units                              
    03829        SGHSCEI@EC0511A    10,000 Units                              
    03830        SGHSCEI@EC0511B    10,000 Units                              
    03832        SG-HSCEI@EP0507    10,000 Units                              
    03833        SGHSCEI@EP0511C    10,000 Units                              
    03834        SGHSCEI@EP0511D    10,000 Units