09:32     <09924><09942><09926> - Announcement (2)                            

    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 14th 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 each series of Warrants and of the shares to        
    which Series A, Series B and Series C relate and as quoted on the Stock   
    Exchange on 1st February, 2005 are set out below. The Exercise Price of   
    each series is also set out below.                                        
                                                                              
                                         Closing Price                        
                         Closing Price          of the                        
    Series of Warrants      of Warrant   related share     Exercise Price     
                                                                              
    A                          HK$1.31         HK$71.0           HK$59.88     
    B                         HK$0.018        HK$128.5          HK$108.88     
    C                          HK$1.96        HK$128.5          HK$108.88     
                                                                              
    Hong Kong, 2nd February, 2005