09:54     <09388>, <04449>, <04452> & <09516> - Announcement (2)              

    "Periodic Fixing Dates" means the dates as specified in the relevant      
    Supplemental Listing Document dated 6 September 2004.                     
                                                                              
    The Cash Settlement Amount shall be despatched no later than three        
    Business Days following the last Valuation Date (as defined in the        
    Conditions).                                                              
                                                                              
    The Issuer has made the following arrangements regarding dealings in and  
    transfers and exercise of the Warrants:                                   
                                                                              
    1       Warrantholder should not be required to lodge any exercise notice 
    if the Cash Settlement Amount is positive as the Warrants shall be        
    automatically exercised.                                                  
                                                                              
    2       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    Stock Exchange to be withdrawn with effect from the close of business on  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 Issuer does not carry on banking business in Hong Kong.  It is not an 
    Authorised Institution under the Banking Ordinance (Chapter 155 of the    
    Laws of Hong Kong) and therefore is not subject to the supervision of the 
    Hong Kong Monetary Authority.                                             
                                                                              
                                                                              
    Macquarie Bank Limited                                                    
    23 February 2005