09:49     MSDW - Daily Trading Summary of Derivative Warrants                 

    The Stock Exchange of Hong Kong Limited received notifications            
    regarding the daily trading summary of derivative warrants as follows:-   
                                                                              
    Trade Date - 01032005                                                     
                                                                              
                                                                              
                                                                              
                                           Average                  Percent   
                              Number      (HK$) per                of Issue   
                                of         Warrant     Number of     Still    
    Stock           Stock    Warrants       Bought   Warrants Still  out in   
    Short Name       Code  Bought/(Sold)   /(Sold)   out in Market   Market   
    ---------------  ----  -------------  ---------  -------------- --------  
    MS-HSBC@EC0506   3562       300,000     0.050       29,852,000     8.4%   
    MS-HSBC@EC0506   3562      (100,000)   (0.045)      29,852,000     8.4%   
    MS-HSBC@EP0509   3563       760,000     0.384           56,000     0.0%   
    MS-HSBC@EP0509   3563      (816,000)   (0.373)          56,000     0.0%   
    MS-HSCEI@EP0507  3628        20,000     0.105        1,740,000     0.4%   
    MS-HSCEI@EP0507  3628    (1,400,000)   (0.099)       1,740,000     0.4%   
    MS-HSCEI@EC0510  3629      (200,000)   (0.112)         290,000     0.1%   
    MS-HSI@EP0506    3630       520,000     0.183        5,810,000     1.5%   
    MS-HSI@EP0506    3630    (1,090,000)   (0.179)       5,810,000     1.5%   
    MS-HSI@EP0509    3631        80,000     0.195          420,000     0.1%   
    MS-HSI@EP0509    3631      (130,000)   (0.196)         420,000     0.1%   
    MS-HSI@EC0512    3632       700,000     0.126        1,150,000     0.3%   
    MS-HSI@EC0512    3632      (550,000)   (0.121)       1,150,000     0.3%   
    MS-HSI @EP0506B  3737       200,000     0.168          500,000     0.1%   
    MS-HSI @EP0507   3738       350,000     0.181          610,000     0.2%   
    MS-HSI @EP0507   3738       (50,000)   (0.177)         610,000     0.2%   
    MS-HSBC @EP0506  3739       500,000     0.556          212,000     0.2%   
    MS-HSBC @EP0506  3739       (48,000)   (0.590)         212,000     0.2%   
    MS-CK(H)@EC0510  3788        -            -                  0     0.0%   
    MS-HWL @EC0507   3789       100,000     0.094          530,000     0.1%   
    MS-HWL @EC0507   3789      (100,000)   (0.085)         530,000     0.1%