10:40     Exotic Warrant Information (3)                                      

    The Exchange endeavours to ensure the accuracy and reliability            
    of the information provided, but does not guarantee its accuracy          
    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 the information relating to exotic warrants.           
    Investors are reminded to refer to the related warrant listing            
    documents for details of the terms and conditions of the warrant.         
                                                                              
    Stock Code                                                                
    (List Date)       Salient Features                                        
    --------------    ------------------------------------------------------  
                                                                              
    9098              European-style Locked-In Return Call Warrants           
    8/9/2003          May only be exercised on 1/4/2005                       
                      Cash Settlement Amount is the sum of all Periodic       
                      Cash Settlement Amounts divided by the number of        
                      Periodic Fixing Dates, less the Exercise Expenses.      
                      The Periodic Cash Settlement Amount in respect of       
                      each Periodic Fixing Date is the greater of             
                      (i) zero and (ii) the arithmetic mean of the            
                      closing price of one underlying share on the five       
                      business days immediately preceding the relevant        
                      Periodic Fixing Date less the Exercise Price.           
                      The Periodic Fixing Dates are 2nd January 2004,         
                      1st April 2004, 2nd July 2004, 4th October 2004,        
                      3rd January 2005 and 1st April 2005.                    
                                                                              
    9102              European-style Locked-In Return Call Warrants           
    10/9/2003         May only be exercised on 1/4/2005                       
                      Cash Settlement Amount is the sum of all Periodic       
                      Cash Settlement Amounts divided by the number of        
                      Periodic Fixing Dates, less the Exercise Expenses.      
                      The Periodic Cash Settlement Amount in respect of       
                      each Periodic Fixing Date is the greater of             
                      (i) zero and (ii) the arithmetic mean of the            
                      closing price of one underlying share on the five       
                      business days immediately preceding the relevant        
                      Periodic Fixing Date less the Exercise Price.           
                      The Periodic Fixing Dates are 2nd January 2004,         
                      1st April 2004, 2nd July 2004, 4th October 2004,        
                      3rd January 2005 and 1st April 2005.                    
                                                                              
    9103              European-style Locked-In Return Call Warrants           
    10/9/2003         May only be exercised on 1/4/2005                       
                      Cash Settlement Amount is the sum of all Periodic       
                      Cash Settlement Amounts divided by the number of        
                      Periodic Fixing Dates, less the Exercise Expenses.      
                      The Periodic Cash Settlement Amount in respect of       
                      each Periodic Fixing Date is the greater of             
                      (i) zero and (ii) the arithmetic mean of the            
                      closing price of one underlying share on the five       
                      business days immediately preceding the relevant        
                      Periodic Fixing Date less the Exercise Price.           
                      The Periodic Fixing Dates are 2nd January 2004,         
                      1st April 2004, 2nd July 2004, 4th October 2004,        
                      3rd January 2005 and 1st April 2005.                    
                                                                              
    9110              European-style Locked-In Return Call Warrants           
    11/9/2003         May only be exercised on 1/4/2005                       
                      Cash Settlement Amount is the sum of all Periodic       
                      Cash Settlement Amounts divided by the number of        
                      Periodic Fixing Dates, less the Exercise Expenses.      
                      The Periodic Cash Settlement Amount in respect of       
                      each Periodic Fixing Date is the greater of             
                      (i) zero and (ii) the arithmetic mean of the            
                      closing price of one underlying share on the five       
                      business days immediately preceding the relevant        
                      Periodic Fixing Date less the Exercise Price.           
                      The Periodic Fixing Dates are 2nd January 2004,         
                      1st April 2004, 2nd July 2004, 4th October 2004,        
                      3rd January 2005 and 1st April 2005.                    
                                                                              
    9111              European-style Locked-In Return Index Call Warrants     
    11/9/2003         May only be exercised on 30/3/2005                      
                      Cash Settlement Amount is the sum of all Quarterly      
                      Cash Settlement Amounts divided by the number of        
                      Quarterly Fixing Dates, less the Exercise Expenses.     
                      In respect of each board lot of 10,000 Warrants,        
                      the Quarterly Cash Settlement Amount in respect of      
                      each Quarterly Fixing Date is the greater of            
                      (i) zero and (ii) the excess of the average of the      
                      quotations for the Index recorded at the end of         
                      every five minute period on such Quarterly Fixing       
                      Date over the Strike Level, multiplied by HK$1.00,      
                      further multiplied by 10,000 and divided by 3,000.      
                      The Quarterly Fixing Dates are 30th December 2003,      
                      30th March 2004, 29th June 2004, 28th September 2004    
                      30th December 2004 and 30th March 2005.