08:50     Closing Bid and Ask Quotes in London                                

                                                                              
    Closing bid and ask quotes on 17 February 2005 as quoted by SEAQ (London) 
    are as follows:                                                           
                                                                              
    (HK$)                BID      ASK    (HK$)                BID      ASK    
    BEIJING YANHUA   :   3.56     3.79   HOPEWELL HOLD    :  18.87    20.03   
    BANK OF E ASIA   :  22.80    24.21   HSBC HOLDINGS    :    -        -     
    BOC HONG KONG    :  14.21    15.09   HUANENG POWER    :    -        -     
    CATHAY PAC AIR   :    -        -     HUTCHISON        :    -        -     
    CHEUNG KONG      :    -        -     HYSAN DEV        :  15.28    16.22   
    CHINA RESOURCES  :    -        -     JOHNSON ELEC H   :    -        -     
    CHINA MOBILE     :  24.40    25.90   LENOVO GROUP     :    -        -     
    CHINA TELECOM    :   2.91     3.09   LI & FUNG        :    -        -     
    CHINA UNICOM     :    -        -     MTR CORPORATION  :  12.03    12.77   
    CITIC PACIFIC    :    -        -     NEW WORLD DEV    :   7.61     8.09   
    CKI HOLDINGS     :    -        -     NEW WORLD TMT    :    -        -     
    CLP HOLDINGS     :    -        -     PCCW             :    -        -     
    CNOOC            :    -        -     SCMP GROUP       :   3.42     3.63   
    DATANG POWER     :    -        -     SHANGHAI IND H   :  17.31    18.39   
    ESPRIT HOLDINGS  :    -        -     SHANGHAI PECHEM  :   3.13     3.32   
    FIRST PACIFIC    :    -        -     SHANGRI-LA ASIA  :    -        -     
    GREAT EAGLE H    :  17.31    18.39   SMARTONE TELE    :    -        -     
    GUANGSHEN RAIL   :   2.93     3.12   SHK PPT          :    -        -     
    HANG LUNG GROUP  :  13.53    14.37   SINO LAND        :   6.79     7.21   
    HANG LUNG PPT    :  11.59    12.31   SWIRE PACIFIC A  :    -        -     
    HANG SENG BANK   :    -        -     TRACKER FUND     :    -        -     
    HENDERSON LAND   :    -        -     WHARF HOLDINGS   :    -        -     
    HK & CHINA GAS   :    -        -     WHEELOCK         :  11.54    12.26   
    HK ELECTRIC      :    -        -     ZHEJIANGEXPRESS  :    -        -