09:00     FB-HWL  @EC0502<09857> - Announcement                               

                                                                              
    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.                                                             
                                                                              
    Notice of Expiry                                                          
    of                                                                        
    138,000,000 European Style (Cash Settled) Call Warrants 2004-2005         
    relating to the existing issued ordinary shares of                        
    HK$0.25 each of Hutchison Whampoa Limited                                 
    (Stock Code: 9857)                                                        
    (the "Warrants")                                                          
    issued by                                                                 
    Fortis Bank S.A./N.V.                                                     
    (incorporated in Belgium)                                                 
                                                                              
    Sponsor                                                                   
    ICBC (Asia) Securities Limited                                            
    (Formerly known as Fortis Securities Asia HK Limited)                     
                                                                              
    Fortis Bank S.A./N.V. (the "Issuer") would like to remind holders of      
    the Warrants that under the terms and conditions of the Warrants (the     
    "Conditions"), the rights to exercise the Warrants will expire at 10:00   
    a.m. (Hong Kong time) on 8th February, 2005 (subject to adjustment)       
    (the "Expiry Date"). The Warrants are European Style and exercisable      
    only on the Expiry Date. Every ten Warrants gives each Warrantholder      
    the right to payment (if any) of the Cash Settlement Amount being an      
    amount in Hong Kong dollars calculated by the Issuer as equal to (1)      
    the arithmetic mean of the closing price of one ordinary share of         
    Hutchison Whampoa Limited (a "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 immediately     
    preceding the Expiry Date) less (2) the Exercise Price (as defined        
    below) and the Exercise Expenses (as defined in the Conditions). If on    
    the Expiry Date the Cash Settlement Amount is greater than zero then      
    the Warrants will be deemed automatically exercised by each               
    Warrantholder. If the Cash Settlement Amount is less than or equal to     
    zero on the Expiry Date, the Warrantholder will lose the value of his     
    investment.                                                               
                                                                              
    The Cash Settlement Amount shall be despatched no later than three        
    Business Days following the Expiry Date, by way of cheque, drawn in       
    favour of the Warrantholder (or in the case of joint Warrantholders,      
    the first-named Warrantholder) appearing in the register kept by the      
    Registrar (as defined below).                                             
                                                                              
    The Issuer has made the following arrangements regarding dealings in      
    and transfers and exercise of the Warrants:-                              
                                                                              
    1. The last trading day of the Warrants on the Stock Exchange is          
    expected to be 2nd February, 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 the Warrants and of the Shares as quoted on the     
    Stock Exchange on 25 January, 2005 were HK$1.81 per Warrant and HK$70     
    per Share respectively. The Exercise Price of the Warrants is HK$52.88    
    per ten Warrants.                                                         
                                                                              
    Hong Kong, 26 January, 2005