10:12     <09334><09198><09199><09200><09202> - Announcement (1)              

    This announcement appears for information purposes only and does not      
    constitute an invitation or offer to acquire, purchase or subscribe       
    for the Warrants described below.                                         
                                                                              
    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.                                                        
                                                                              
    Locked-In Return* Warrants                                                
    issued by                                                                 
    CREDIT SUISSE FIRST BOSTON                                                
    (incorporated under the laws of Switzerland)                              
    Sponsor/Manager                                                           
    CREDIT SUISSE FIRST BOSTON (HONG KONG) LIMITED                            
                                                                              
    Announcement                                                              
    In respect of each issue of Locked-In Return* Warrants listed below       
    (the `Warrants'), Credit Suisse First Boston would like to announce       
    the Periodic Cash Settlement Amount in respect of the Periodic Fixing     
    Dates set out below.                                                      
                                                                              
    Capitalised terms not defined herein shall have the meanings given        
    to them in the terms and conditions (the `Conditions') of the             
    Warrants.                                                                 
                                                                              
    Stock                           Exercise        Periodic                  
    Periodic                                                                  
    Code    Company         Type       Amount   Cash                Fixing    
                                                                              
                                                          Settlement          
    Dates                                                                     
                                                                              
    Amount                                                                    
                                                             (cumulative to   
                                                                              
                                                        date)                 
                                                            before            
                                                                              
                                                            dividing          
                                                                              
                                                            by the            
                                                                              
                                                            number of         
                                                                              
                                                            Periodic          
                                                                              
                                                            Fixing            
                                                                              
                                                            Dates##           
                                                                              
    9334       CITIC      Call       Ten        HK$7.37    July 27, 2004#     
                    Pacific                 Warrants                January   
    27, 2005#                                                                 
                    Limited                                             July  
    27, 2005                                                                  
                                                                              
    January 27, 2006                                                          
                                                                              
                                                                              
    9198       HSBC       Call       Ten        HK$0       March 29, 2004#    
               Holdings              Warrants                  August 30,     
    2004#                                                                     
               plc                                                            
    January 28,2005#                                                          
                                                                         June 
    28, 2005                                                                  
                                                                              
                                                                              
    9199       Hutchison  Call       Ten        HK$0       March 29, 2004#    
               Whampoa               Warrants                August 30, 2004# 
                                                                              
               Limited                                                January 
    28, 2005#                                                                 
                                                                         June 
    28, 2005                                                                  
                                                                              
    9200       PetroChina Call       One        HK$2.245   March 29, 2004#    
                Company              Warrant                      August 30,  
    2004#                                                                     
               Limited                                                        
    January 28, 2005#                                                         
                                                                              
    June 28, 2005                                                             
                                                                              
                                                                              
    9202       HSBC       Put        Ten        HK$0       March 29, 2004#    
               Holdings              Warrants                   August 30,    
    2004#                                                                     
               plc                                                            
    January 28, 2005#                                                         
                                                                         June 
    28, 2005