09:40     <09943>, <09944>, <09945> & <09957> - Announcement (1)              

    This announcement appears for information purposes only and does not      
    constitute an invitation or offer to acquire, purchase or subscribe       
    for the Warrants described below.                                         
                                                                              
    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.                                                        
                                                                              
                                                                              
    Average Return* Warrants                                                  
    issued by                                                                 
    CREDIT SUISSE FIRST BOSTON                                                
    (incorporated under the laws of Switzerland)                              
    Sponsor/Manager                                                           
    CREDIT SUISSE FIRST BOSTON (HONG KONG) LIMITED                            
                                                                              
    Announcement                                                              
                                                                              
    In respect of each of the Average Return* Warrants listed below           
    (the `Warrants'), Credit Suisse First Boston would like to announce       
    the Periodic Reference Price in respect of the Periodic Fixing Dates      
    set out below.                                                            
                                                                              
    Capitalised terms not defined herein shall have the meanings given        
    to them in the terms and conditions (the `Conditions') of the             
    Warrants.                                                                 
                                                                              
    Stock Code  Company  Type  Exercise  Periodic             Periodic        
                               Amount    Reference            Fixing          
                                         Prices               Dates           
                                        (cumulative to date)##                
                                                                              
    9943       Aluminum   Call       One        HK$12.845  August 18,         
               Corporation           Warrant               2004#              
               of                                                             
               China                                       November 18,       
               Limited                                     2004#              
                                                           February 18,       
                                                           2005#              
                                                           May 18,            
                                                           2005               
    9944       China      Call       One        HK$15.08   August 18,         
               Life                  Warrant               2004#              
               Insurance                                                      
               Company                                     November 18,       
               Limited                                     2004#              
                                                           February 18,       
                                                           2005#              
                                                           May 18,            
                                                           2005               
    9945       Huaneng    Call       One        HK$17.37   August 18,         
               Power                 Warrant               2004#              
               International,                              November 18,       
               Inc.                                        2004#              
                                                           February 18,       
                                                           2005#              
                                                           May 18,            
                                                           2005               
    9957       Lenovo     Call       One        HK$7.32    August 18,         
               Group                 Warrant               2004#              
               Limited                                     November 18,       
                                                           2004#              
                                                           February 18,       
                                                           2005#              
                                                           May 18,            
                                                           2005               
                                                                              
    # Investors should note that the Periodic Reference Price(s)              
    (cumulative to date) of the Warrants set out above reflect the sum of     
    the Periodic Reference Price(s) in respect of these dates only.           
                                                                              
    ## Investors should note that the Warrants are European style             
    and may only be exercised on the relevant Expiry Date. In respect of      
    each issue of Warrants, each respective Exercise Amount will entitle      
    the holder on exercise thereof to receive from the Issuer a payment