09:10     MB-PCCWL@EC0509<03857> - New Listing                                

    Market participants are requested to note that dealings in the 2005       
    European Style Call Warrants (Cash Settled) relating to existing issued   
    ordinary shares of HK$0.25 each of PCCW Limited issued by Macquarie Bank  
    Limited will commence at 9:30 a.m. on Wednesday, 02/02/2005 under the     
    following particulars:-                                                   
                                                                              
                                                                              
    Stock Code      Stock Short Name        Board Lot                         
    ----------      ----------------        ---------                         
    3857            MB-PCCWL@EC0509         1,000 units