08:59 <02263>,<02264>&<02266> - Announcement (1) 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 Warrants issued by DEUTSCHE BANK AG (incorporated under the laws of the Federal Republic of Germany) acting through its London Branch This Notice of Expiry relates to the following warrants (together, the "Warrants"): Stock Code 2263 2264 2266 Index Hang Seng Index Hang Seng Index Hang Seng China Enterprises Index Type Put Put Put Issue Size 400,000,000 400,000,000 400,000,000 Expiry Date 25th February, 2005 25th February, 2005 25th February, 2005 Strike Level 12,000 12,600 4,000 Divisor 4,000 5,000 4,000 Board Lots 10,000 Warrants 10,000 Warrants 10,000 Warrants Exercise Amount 10,000 Warrants 10,000 Warrants 10,000 Warrants Expected Last Trading Day 21st February, 21st February, 21st February, 2005 2005 2005 Closing price per Warrant as of 14th February, 2005 HK$0.011 HK$0.012 HK$0.012 Closing level of the Index as of 14th February, 2005 14,017.23 14,017.23 4,904.96 Deutsche Bank AG (the "Issuer") acting through its London Branch 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 the relevant Expiry Date (subject to adjustment). The Warrants are European Style and exercisable only on the relevant Expiry Date. In respect of each series, every Exercise Amount will entitle the holder to receive from the Issuer a payment of an amount in Hong Kong dollars calculated by the Issuer (the "Cash Settlement Amount") as follows. The Cash Settlement Amount is equal to the relevant Strike Level less the arithmetic mean of the quotations of the relevant Index taken at five minute intervals on the relevant Expiry Date, rounded down to the nearest whole number, multiplied by HK$1.00, further multiplied by 10,000 and divided by the relevant Divisor, less the Exercise Expenses (as defined in the terms and conditions of the relevant series). If, on the relevant Expiry Date, the relevant Cash Settlement Amount is greater than zero, the relevant Warrants will be automatically exercised (without any notice being given by the holders of the Warrants) and the Issuer will pay to the holders the relevant Cash Settlement Amount calculated as described above. If the relevant Cash Settlement Amount is less than or equal to zero, a holder of the relevant Warrants will lose the value of his investment in such Warrants. The relevant Cash Settlement Amount (if any) shall be despatched no later than three Business Days following the relevant 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. 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 Rooms 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:- 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. This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of Shougang Concord Grand (Group) Limited and Global Digital Creations Holdings Limited. SHOUGANG CONCORD GRAND (GROUP) LIMITED (incorporated in Bermuda with limited liability) (Stock Code: 730) GLOBAL DIGITAL CREATIONS HOLDINGS LIMITED (incorporated in Bermuda with limited liability) (Stock Code: 8271) Voluntary share exchange offer by DBS Asia Capital Limited on behalf of Upper Nice Assets Ltd., a wholly-owned subsidiary of Shougang Concord Grand (Group) Limited, to acquire all the issued shares of, and a voluntary conditional cash offer to cancel all the outstanding options of, Global Digital Creations Holdings Limited (other than those already owned by the Offeror and parties acting in concert with it) Major Transaction of Shougang Concord Grand (Group) Limited Offers becoming unconditional in all respects and Extension of the Closing Date of the Offers Unusual Share Price Movement of GDC The board of directors of SCG wishes to announce that as at 4:00 p.m. on 14 February 2005, valid acceptances have been received in respect of 461,833,761 GDC Shares (representing approximately 57.67% of the issued share capital of GDC as at date of this announcement) under the Offers. As at the date of the Joint Announcement, the Offeror and parties acting in concert with it did not own any shares in GDC and this has remained unchanged throughout the period between the date of the Joint Announcement and the date of this announcement. Accordingly, after taking into account the valid acceptances received under the Offers, the Offeror and parties acting concert with it together own 461,833,761 GDC Shares, representing approximately 57.67% of the issued share capital of GDC as at the date of this announcement. Condition (d) of the Offers has therefore been fulfilled as at 14 February 2005. As disclosed in the announcement of SCG dated 31 January 2005, condition (a) of the Offers has been fulfilled on 31 January 2005. Conditions (b), (c), (d) and (e) of the Offers have been fulfilled on 14 February 2005. Accordingly, the Offeror announces that the Offers are declared unconditional in all respects on 14 February 2005. Pursuant to the requirements of the Takeovers Code, SCG will extend the Closing Date to Tuesday, 1 March 2005 (or any subsequent date(s) as may be determined and announced by the Offeror with the consent of the Executive). Further announcement will be made by SCG and the Offeror as and when necessary. As SCG and the Offeror have not decided whether to maintain the listing of GDC Shares on GEM or to effect the compulsory acquisition of GDC in the event that the Offeror is permitted to do so under the Companies Act, further announcement will be made as and when necessary. GDC Shareholders intending to accept the Offers should submit their completed Pink Forms of Acceptance, together with the relevant share certificate(s) and/or transfer receipt(s) and/or other document(s) of title, to Standard Registrars Limited at G/F, Bank of East Asia Harbour View Centre, 56 Gloucester Road, Hong Kong, in an envelope marked "Share Exchange Offer", by no later than Tuesday, 1 March 2005.