08:53     Closing Bid and Ask Quotes in London                                

                                                                              
    Closing bid and ask quotes on 22 February 2005 as quoted by SEAQ (London) 
    are as follows:                                                           
                                                                              
    (HK$)                BID      ASK    (HK$)                BID      ASK    
    BEIJING YANHUA   :   3.56      -     HOPEWELL HOLD    :    -      19.93   
    BANK OF E ASIA   :  22.99      -     HSBC HOLDINGS    :    -        -     
    BOC HONG KONG    :  14.26      -     HUANENG POWER    :    -        -     
    CATHAY PAC AIR   :    -        -     HUTCHISON        :    -        -     
    CHEUNG KONG      :    -        -     HYSAN DEV        :    -      16.43   
    CHINA RESOURCES  :    -        -     JOHNSON ELEC H   :    -        -     
    CHINA MOBILE     :  24.69      -     LENOVO GROUP     :    -        -     
    CHINA TELECOM    :    -       3.06   LI & FUNG        :    -        -     
    CHINA UNICOM     :    -        -     MTR CORPORATION  :  12.08    12.82   
    CITIC PACIFIC    :    -        -     NEW WORLD DEV    :    -       7.98   
    CKI HOLDINGS     :    -        -     NEW WORLD TMT    :    -        -     
    CLP HOLDINGS     :    -        -     PCCW             :    -        -     
    CNOOC            :    -        -     SCMP GROUP       :    -       3.76   
    DATANG POWER     :    -        -     SHANGHAI IND H   :  17.12      -     
    ESPRIT HOLDINGS  :    -        -     SHANGHAI PECHEM  :    -       3.40   
    FIRST PACIFIC    :    -        -     SHANGRI-LA ASIA  :    -        -     
    GREAT EAGLE H    :  18.14      -     SMARTONE TELE    :    -        -     
    GUANGSHEN RAIL   :    -       3.04   SHK PPT          :    -        -     
    HANG LUNG GROUP  :    -      14.47   SINO LAND        :    -       7.11   
    HANG LUNG PPT    :  11.69      -     SWIRE PACIFIC A  :    -        -     
    HANG SENG BANK   :    -        -     TRACKER FUND     :    -        -     
    HENDERSON LAND   :    -        -     WHARF HOLDINGS   :    -        -     
    HK & CHINA GAS   :    -        -     WHEELOCK         :    -      12.51   
    HK ELECTRIC      :    -        -     ZHEJIANGEXPRESS  :    -        -