09:20 MB-CNOOC@EC0509<03873> & MB-SMIC @EC0510<03874> - Ann (1) This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for the Warrants (as defined below). The Stock Exchange of Hong Kong Limited 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. 200,000,000 European Style Call Warrants (Cash Settled) 2005 relating to existing issued ordinary shares of HK$0.02 each of CNOOC Limited ("1st Series Warrants") and 288,000,000 European Style Call Warrants (Cash Settled) 2005 relating to existing issued ordinary shares of US$0.0004 each of Semiconductor Manufacturing International Corporation ("2nd Series Warrants") (together the "Warrants") All Issued by Macquarie Bank Limited (ABN 46 008 583 542) (incorporated under the laws of Australia) Sponsor Macquarie Equities (Asia) Limited Macquarie Bank Limited (ABN 46 008 583 542) (the "Issuer") announces that it intends to issue each of the series of the Warrants detailed below. In respect of each series, the Warrants relate to the existing issued ordinary shares of the relevant company specified below (the " Shares"). Each series of Warrants may only be exercised on the relevant expiry date (the "Expiry Date"), at the relevant exercise price (the " Exercise Price") and in the relevant board lot (the "Board Lot") or integral multiples thereof, all of which are specified below. Warrants Board Lot Issue Price per Warrant Number of Warrants per Entitlement Entitlement Shares Expiry Date Exercise Price 1st Series Warrants 1,000 HK$0.339 One One Share existing issued ordinary shares of HK$0.02 each of CNOOC Limited 30 September 2005 HK$4.28 2nd Series Warrants 1,000 HK$0.252 One One Share existing issued ordinary shares of US$0.0004 each of Semiconductor Manufacturing International Corporation 31 October 2005 HK$1.60 Every Board Lot will entitle the holder on exercise thereof to receive from the Issuer a cash amount (if positive) (the "Cash Settlement Amount "): Cash Settlement Amount per Board Lot = Entitlement x (Average Price Exercise Price) x one Board LotNumber of Warrants per Entitlement "Average Price" shall be the arithmetic mean of the closing prices of one Share (as derived from the Daily Quotation Sheet of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), subject to any adjustments (as determined by the Issuer in accordance with the Conditions) to such closing prices as may be necessary to reflect any capitalisation, rights issue, distribution or the like) for each of the 5 Valuation Dates prior to expiry. The Warrants will be automatically exercised on the Expiry Date (without any notice being given to the holders of the Warrants) if the Cash Settlement Amount on the Expiry Date is greater than zero and the Issuer will pay to the holders of the Warrants an amount less exercise expenses calculated in accordance with the Conditions of the Warrants. If the Cash Settlement Amount is less than or equal to zero, all Warrants shall be deemed to expire on the Expiry Date without value. The Warrants constitute general unsecured contractual obligations of the Issuer and of no other person. If you purchase the Warrants you are relying upon the creditworthiness of the Issuer. Application will be made to the Listing Committee of the Stock Exchange for listing of, and permission to deal in, the Warrants. The Issuer has been informed that consideration of such application will go through the normal application procedure pursuant to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and no guarantee that such approval will be granted can be given. If such permission is granted, it is anticipated that dealings in the Warrants will commence on the Stock Exchange on or about 8 February 2005. Copies of the published audited consolidated financial statements of the Issuer and its controlled entities ("Macquarie Group") for the two financial years ended 31 March 2003 and 31 March 2004, the 2005 Interim Directors' report and financial report of Macquarie Group for the half year ended 30 September 2004, the Base Listing Document dated 20 July 2004 (updated by an addendum dated 25 November 2004 (the "Addendum")), the Addendum, the relevant Supplemental Listing Document to be dated on or about 7 February 2005 and a Chinese translation of each document may be inspected, from the date of the commencement of dealings in each series of Warrants on the Stock Exchange up to and including the relevant Expiry Date, during usual business hours on any business day at the offices of Macquarie Equities (Asia) Limited, 19th Floor, Citic Tower, 1 Tim Mei Avenue, Central, Hong Kong. The Stock Exchange of Hong Kong Limited received notifications regarding the daily trading summary of derivative warrants as follows:- Trade Date - 01022005 Average Percent Number (HK$) per of Issue of Warrant Number of Still Stock Stock Warrants Bought Warrants Still out in Short Name Code Bought/(Sold) /(Sold) out in Market Market --------------- ---- ------------- --------- -------------- -------- FB-C MOB@EC0504 2168 - - 94,055,000 27.83% FB-C MOB@EC0504 2168 - - 94,055,000 27.83% FB-C MOB@EC0508 2169 (6,000,000) (0.124) 154,105,000 45.59% FB-C MOB@EC0508 2169 2,955,000 0.120 154,105,000 45.59% FB-HSBC @EC0503 2170 - - 60,000 0.09% FB-HSBC @EC0503 2170 - - 60,000 0.09% FB-HSBC @EC0505 2171 - - 60,000 0.09% FB-HSBC @EC0505 2171 - - 60,000 0.09% FB-HSBC@EC0506B 2172 9,500,000 0.490 1,180,000 1.74% FB-HSBC@EC0506B 2172 (9,500,000) (0.477) 1,180,000 1.74% FB-BOCHK@EC0509 3642 - - 0 0.00% FB-BOCHK@EC0509 3642 - - 0 0.00% FB-C MOB@EC0605 3644 - - 135,000 0.05% FB-C MOB@EC0605 3644 - - 135,000 0.05% FB-HWL @EC0508 3645 13,460,000 0.337 11,410,000 8.91% FB-HWL @EC0508 3645 (14,040,000) (0.340) 11,410,000 8.91% FB-PINGAN@EC060 3646 - - 0 0.00% FB-PINGAN@EC060 3646 - - 0 0.00% FB-SHK P@EC0507 3647 (17,250,000) (0.149) 4,620,000 3.61% FB-SHK P@EC0507 3647 16,050,000 0.148 4,620,000 3.61% FB-CK(H)@EC0508 3691 (4,600,000) (0.410) 440,000 0.34% FB-CK(H)@EC0508 3691 4,600,000 0.410 440,000 0.34% FB-CK(H)@EC0508 3692 4,200,000 0.305 0 0.00% FB-CK(H)@EC0508 3692 (4,200,000) (0.300) 0 0.00% FB-HSBC@EC0601 3693 - - FB-HSBC@EC0601 3693 - - FB-HBSC@EC0609 3694 - - 8,000 0.01% FB-HBSC@EC0609 3694 - - 8,000 0.01% FB-HWL@EC0511 3695 21,250,000 0.660 5,700,000 4.45% FB-HWL@EC0511 3695 (5,310,000) (0.670) 5,700,000 4.45% FB- BOCHK @EC08 3707 100,000 0.187 1,300,000 0.22% FB- BOCHK @EC08 3707 - - 1,300,000 0.22% FB- PCCWL@EC051 3708 (21,400,000) (0.284) 16,417,000 9.33% FB- PCCWL@EC051 3708 21,558,000 0.288 16,417,000 9.33% FB- SHKP @EC050 3710 1,600,000 0.325 20,000 0.02% FB- SHKP @EC050 3710 (1,600,000) (0.325) 20,000 0.02% FB- SHKP @EC051 3711 - - 530,000 0.42% FB- SHKP @EC051 3711 - - 530,000 0.42% FB- SHKP @EC060 3712 - - 0 0.00% FB- SHKP @EC060 3712 - - 0 0.00% FB-C MOB@EP0511 4555 (25,660,000) (0.220) 4,855,000 1.44% FB-C MOB@EP0511 4555 24,700,000 0.221 4,855,000 1.44% FB-C MOB@EC0602 4557 (63,250,000) (0.177) 2,765,000 0.82% FB-C MOB@EC0602 4557 77,150,000 0.180 2,765,000 0.82% FB-HSBC@EC0509B 4558 (8,000,000) (0.530) 300,000 0.44% FB-HSBC@EC0509B 4558 7,700,000 0.530 300,000 0.44% FB-HSBC @EC0511 4559 - - 6,060,000 8.91% FB-HSBC @EC0511 4559 - - 6,060,000 8.91% FB-PCCWL@EC0506 4560 500,000 0.055 17,211,000 11.63% FB-PCCWL@EC0506 4560 - - 17,211,000 11.63% FB-BOCHK@EC0506 9736 - - 1,397,510,000 51.99% FB-BOCHK@EC0506 9736 - - 1,397,510,000 51.99% FB-ALUCO@EC0510 9749 - - 5,860,000 0.46% FB-ALUCO@EC0510 9749 - - 5,860,000 0.46% FB-HWL @EC0502 9857 - - 380,000 0.28% FB-HWL @EC0502 9857 - - 380,000 0.28% FB-HSBC@EC0504 9891 - - 122,344,000 40.78% FB-HSBC@EC0504 9891 516,000 1.345 122,344,000 40.78% FB-HSBC@EC0506 9902 - - 8,436,000 12.41% FB-HSBC@EC0506 9902 - - 8,436,000 12.41% FB-HSBC@EC0509 9904 - - 9,228,000 13.57% FB-HSBC@EC0509 9904 - - 9,228,000 13.57% FB-ALUCO@EC0511 9922 - - 22,800,000 1.78% FB-ALUCO@EC0511 9922 100,000 0.018 22,800,000 1.78% FB-CK(H)@EC0502 9924 - - 50,000 0.04% FB-CK(H)@EC0502 9924 - - 50,000 0.04% FB-HSBC @EC0502 9926 - - 4,160,000 6.12% FB-HSBC @EC0502 9926 - - 4,160,000 6.12% FB-PETCH@EC0503 9941 800,000 0.603 10,442,000 5.02% FB-PETCH@EC0503 9941 - - 10,442,000 5.02% FB-HSBC @EP0502 9942 - - 1,396,000 2.05% FB-HSBC @EP0502 9942 - - 1,396,000 2.05%