09:22 <09113>,<09123>,<09756> & <09791> - Announcement (2) # Investors should note that the Periodic Reference Price(s) (cumulative to date) of the Warrants set out above reflect the Periodic Reference Price in respect of that day or the sum of the Periodic Reference Prices 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 series of Warrants, every Board Lot will entitle the holder on exercise thereof to receive from the Issuer a cash amount (if positive) (the "Cash Settlement Amount") calculated by the Issuer as follows: Cash Settlement Amount per Board Lot = (Sum of the Periodic Reference Prices/Number of Periodic Fixing Dates - Exercise Price) x One Board Lot/Number of Warrants per Entitlement (such number of Warrants per Share) Investors should note that the calculation of the Cash Settlement Amount takes into account the Periodic Reference Price at each Periodic Fixing Date. The average of all the Periodic Reference Prices is then compared with the Exercise Price before the Cash Settlement Amount is determined. The Cash Settlement Amount of each series of Warrants will not be the same as the relevant Periodic Reference Price set out above. * Investors should note that the description "Average Return" refers to the calculation of the return on the Warrants only; the return of the Average Return Warrants is calculated by reference to the average of the Periodic Reference Prices, that is, by reference to the sum of the Periodic Reference Prices divided by the number of the Periodic Fixing Dates; if the average of the Periodic Reference Prices is less than the Exercise Price on the Expiry Date, the Warrants will expire worthless and the holders of the Warrants will lose all their investment. 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 9 March 2005 The Stock Exchange of Hong Kong Limited received notifications regarding the daily trading summary of derivative warrants as follows:- Trade Date - 08032005 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 --------------- ---- ------------- --------- -------------- -------- KC-CNOOC@EC0510 3864 0 0.0000 1,000 0.00% KC-CNOOC@EC0510 3864 20,000 0.3850 1,000 0.00% KC-HUA P@EC0509 3865 0 0.0000 0 0.00% KC-HUA P@EC0509 3865 0 0.0000 0 0.00% KC-C TEL@EC0510 3872 0 0.0000 0 0.00% KC-C TEL@EC0510 3872 0 0.0000 0 0.00% KC-ALUCO@EC0510 3875 0 0.0000 2,000 0.00% KC-ALUCO@EC0510 3875 0 0.0000 2,000 0.00% KC-YZ CM@EC0602 3876 (1,500,000) (0.2060) 1,300,000 0.45% KC-YZ CM@EC0602 3876 1,160,000 0.2090 1,300,000 0.45% KC-COSCO@EC0601 3879 0 0.0000 180,000 0.07% KC-COSCO@EC0601 3879 200,000 0.2700 180,000 0.07% KCPETCH@EC0509B 3888 (77,070,000) (0.2645) 88,998,000 30.90% KCPETCH@EC0509B 3888 43,406,000 0.2578 88,998,000 30.90% KC-CP&CC@EC0510 3905 (8,902,000) (0.2910) 1,572,000 0.55% KC-CP&CC@EC0510 3905 8,402,000 0.2932 1,572,000 0.55% KC-HSI @EC0508A 3921 0 0.0000 0 0.00% KC-HSI @EC0508A 3921 0 0.0000 0 0.00% KC-HSI @EC0508B 3922 0 0.0000 0 0.00% KC-HSI @EC0508B 3922 0 0.0000 0 0.00% KC-HSI @EP0508C 3925 0 0.0000 10,000 0.00% KC-HSI @EP0508C 3925 0 0.0000 10,000 0.00% KC-HSI @EP0508D 3926 0 0.0000 0 0.00% KC-HSI @EP0508D 3926 0 0.0000 0 0.00% KC-HSI @EP0508E 3927 0 0.0000 0 0.00% KC-HSI @EP0508E 3927 0 0.0000 0 0.00% KC-CK(H)@EC0510 3935 (4,040,000) (0.3400) 60,000 0.03% KC-CK(H)@EC0510 3935 4,040,000 0.3446 60,000 0.03% KC-HWL @EC0510B 3936 (5,800,000) (0.3509) 1,020,000 0.61% KC-HWL @EC0510B 3936 4,800,000 0.3581 1,020,000 0.61% KC-HSI @EC0503C 4444 (280,000) (0.1865) 3,150,000 0.79% KC-HSI @EC0503C 4444 0 0.0000 3,150,000 0.79% KC-HSBC @EC0506 4445 (34,024,000) (0.2595) 343,488,000 47.84% KC-HSBC @EC0506 4445 1,748,000 0.2462 343,488,000 47.84% KC-HSBC @XC0510 4447 (6,424,000) (0.2458) 1,828,000 0.88% KC-HSBC @XC0510 4447 6,364,000 0.2519 1,828,000 0.88% KC-HSI @EP0503 4448 0 0.0000 170,400,000 19.19% KC-HSI @EP0503 4448 0 0.0000 170,400,000 19.19% KC-CK(H)@EC0503 4460 0 0.0000 47,890,000 11.74% KC-CK(H)@EC0503 4460 0 0.0000 47,890,000 11.74% KC-HSI @EC0503D 4461 0 0.0000 0 0.00% KC-HSI @EC0503D 4461 0 0.0000 0 0.00% KC-HSI @EC0503E 4463 0 0.0000 0 0.00% KC-HSI @EC0503E 4463 0 0.0000 0 0.00% KC-HSI @EC0503F 4480 0 0.0000 2,990,000 0.75% KC-HSI @EC0503F 4480 0 0.0000 2,990,000 0.75% KC-HSI @EP0503H 4488 0 0.0000 357,880,000 40.30% KC-HSI @EP0503H 4488 0 0.0000 357,880,000 40.30% KC-HSBC @EC0609 4489 0 0.0000 2,808,000 0.72% KC-HSBC @EC0609 4489 0 0.0000 2,808,000 0.72% KC-HSCEI@EC0503 4521 (2,000,000) (0.1485) 14,720,000 3.68% KC-HSCEI@EC0503 4521 0 0.0000 14,720,000 3.68% KC-CK(H)@EP0503 4522 0 0.0000 3,700,000 1.78% KC-CK(H)@EP0503 4522 0 0.0000 3,700,000 1.78% KCCLIFE@EC0503A 4524 0 0.0000 139,714,000 39.03% KCCLIFE@EC0503A 4524 0 0.0000 139,714,000 39.03% KC-HSCEI@EP0503 4525 0 0.0000 9,550,000 2.46% KC-HSCEI@EP0503 4525 0 0.0000 9,550,000 2.46% KCCLIFE@EC0503B 4531 (100,000) (0.4500) 4,689,000 4.34% KCCLIFE@EC0503B 4531 413,000 0.5351 4,689,000 4.34% KC-HWL @EP0503 4532 0 0.0000 1,460,000 0.99% KC-HWL @EP0503 4532 0 0.0000 1,460,000 0.99% KC-PINAN2EC0503 4535 0 0.0000 1,553,000 1.55% KC-PINAN2EC0503 4535 546,000 0.4995 1,553,000 1.55% KC-HSI @EC0504 4552 0 0.0000 68,140,000 6.81% KC-HSI @EC0504 4552 1,670,000 0.0566 68,140,000 6.81% KC-HSCEI@EP0504 4553 0 0.0000 300,000 0.08% KC-HSCEI@EP0504 4553 30,000 0.0210 300,000 0.08% KC-HSI @EP0504 4556 0 0.0000 57,460,000 6.47% KC-HSI @EP0504 4556 0 0.0000 57,460,000 6.47%