09:47     <04708>, <04710> & <04711> - 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.                                                             
                                                                              
    288,000,000 European Style (Cash Settled) Put Warrants 2005               
    relating to existing issued ordinary H shares of                          
    RMB1.00 each of PetroChina Company Limited                                
    ("Series A")                                                              
                                                                              
    168,000,000 European Style (Cash Settled) Call Warrants 2005              
    relating to existing issued ordinary shares of                            
    HK$0.50 each of Cheung Kong (Holdings) Limited                            
    ("Series B")                                                              
                                                                              
    168,000,000 European Style (Cash Settled) Call Warrants 2005              
    relating to existing issued ordinary shares of                            
    HK$0.25 each of Hutchison Whampoa Limited                                 
    ("Series C")                                                              
                                                                              
    issued by                                                                 
                                                                              
    KBC Financial Products International Ltd.                                 
    (Incorporated with limited liability in the Cayman Islands)               
    unconditionally and irrevocably guaranteed by                             
                                                                              
    KBC Bank NV                                                               
    (Incorporated with limited liability in Belgium)                          
                                                                              
    Sponsor/Manager                                                           
                                                                              
    KBC Financial Products Hong Kong Limited                                  
                                                                              
    Announcement                                                              
                                                                              
    The directors of KBC Financial Products International Ltd. (the           
    "Issuer") announce their intention to issue the series' of Warrants       
    detailed below (the "Warrants"). In respect of Series A, every warrant    
    relating to one existing issued ordinary H share of RMB1.00 each of       
    PetroChina Company Limited, in respect of Series B every ten warrants     
    relating to one existing issued ordinary share of HK$0.50 each of         
    Cheung Kong (Holdings) Limited, and in respect of Series C, every ten     
    warrants relating to one existing issued ordinary share of HK$0.25 each   
    of Hutchison Whampoa Limited.                                             
                                                                              
    Warrants    Share  Company                         Issue Price            
                                                                              
    Series A  RMB1.00  PetroChina Company Limited      HK$0.250               
                                                                              
    Series B  HK$0.50  Cheung Kong (Holdings) Limited  HK$0.585               
                                                                              
    Series C  HK$0.25  Hutchison Whampoa Limited       HK$0.590               
                                                                              
             Expiry Date  Trading Board Lots  Exercise Price                  
                                                                              
    22nd September, 2005               2,000         HK$4.50                  
                                                                              
      1st November, 2005              10,000        HK$68.00                  
                                                                              
      1st November, 2005              10,000        HK$64.00                  
                                                                              
    The Warrants are European style and may only be exercised on the          
    relevant Expiry Date. The Warrants are in registered form and             
    exercisable only in the trading board lots specified above. Every         
    warrant (in the case of Series A) and every ten warrants (in the case     
    of Series B and C) will entitle the holder on exercise thereof to         
    receive from the Issuer a payment of an amount in Hong Kong dollars       
    calculated by the Issuer (the "Cash Settlement Amount") equal to: in      
    the case of Series A, (1) the Entitlement (subject to any adjustment)     
    multiplied by (i) the relevant Exercise Price less (ii) the arithmetic    
    mean of the closing price of one Share (as derived from the Daily         
    Quotation Sheet of the Stock Exchange (subject to any adjustment)) for    
    each Valuation Date (being each of the five Business Days (as defined     
    in the terms and conditions of the Warrants) immediately preceding the    
    Expiry Date); less (2) the Exercise Expenses (as defined in the terms     
    and conditions of the Warrants) and in the case of Series B and Series    
    C, (1) the Entitlement (subject to any adjustment) multiplied by (i)      
    the arithmetic mean of the closing price of one Share (as derived from