10:11     <09078>,<09079>,<09080>,<09081>,<09097> - Announcement(1)           

    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.                                                        
                                                                              
    Notice of Expiry relating to certain European Style (Cash Settled)        
    Locked-In* Warrants                                                       
                                                                              
    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                                  
                                                                              
    This Notice of Expiry relates to the following warrants (together,        
    the `Warrants'):                                                          
                                                                              
    Stock Code 9078       9079       9080       9081       9097               
    Company    Cheung     China      Huaneng    Hutchison  Cheung             
               Kong       Telecom    Power      Whampoa    Kong               
               (Holdings) Corporatio Internatio Limited    (Holdings)         
                          n Limited  nal,                   Limited           
               Limited               Inc.                                     
    Shares     Existing   Existing   Existing   Existing   Existing           
               issued     issued     issued     issued     issued             
               ordinary   ordinary   ordinary   ordinary   ordinary           
               shares of  H shares   H shares   shares of  shares of          
               HK$0.50    of         of         HK$0.25    HK$0.50            
               each of    RMB1.00    RMB1.00    each of    each of            
               the        each of    each of    the        the                
               Company    the        the        Company    Company            
                          Company    Company                                  
    Type       Locked-In  Locked-In  Locked-In  Locked-In  Locked-In          
               Call       Call       Call       Call       Call               
    Issue Size 108,000,00 108,000,00 188,000,00 158,000,00 78,000,000         
               0          0          0          0                             
    Expiry     1st        1st        1st        1st        1st                
    Date       April,     April,     April,     April,     April,             
               2005       2005       2005       2005       2005               
    Exercise   HK$62.00   HK$2.00    HK$9.00    HK$60.00   HK$55.00           
    Price                            (For the                                 
                                     first two                                
                                     Quarterly                                
                                     Fixing                                   
                                     Dates)                                   
                                     HK$4.50                                  
                                     (For the                                 
                                     remaining                                
                                     four                                     
                                     Quarterly                                
                                     Fixing                                   
                                     Dates)#                                  
    Quarterly  2nd        2nd        2nd        2nd        2nd                
    Fixing     January,   January,   January,   January,   January,           
    Dates      2004 1st   2004 1st   2004 1st   2004 1st   2004 1st           
               April,     April,     April,     April,     April,             
               2004 2nd   2004 2nd   2004 2nd   2004 2nd   2004 2nd           
               July,      July,      July,      July,      July,              
               2004  4th  2004  4th  2004  4th  2004  4th  2004  4th          
               October,   October,   October,   October,   October,           
               2004 3rd   2004 3rd   2004 3rd   2004 3rd   2004 3rd           
               January,   January,   January,   January,   January,           
               2005 1st   2005 1st   2005 1st   2005 1st   2005 1st           
               April,     April,     April,     April,     April,             
               2005       2005       2005       2005       2005               
    Board Lot  10,000     2,000      20,000     10,000     10,000             
    Entitlemen 10         1 Warrant  10         10         10                 
    t Ratio    Warrants   for 1      Warrants   Warrants   Warrants           
               for 1      Share      for 2      for 1      for 1              
               Share                 Shares     Share      Share              
    Last       24th       24th       24th       24th       24th               
    Trading    March,     March,     March,     March,     March,             
    Date       2005       2005       2005       2005       2005               
    Closing    HK$0.53    HK$0.76    HK$0.41    HK$0.33    HK$1.19            
    Price of                                                                  
    the                                                                       
    Warrants                                                                  
    as at                                                                     
    18th                                                                      
    March,                                                                    
    2005                                                                      
    Closing    HK$71.50   HK$2.725   HK$5.95    HK$67.50   HK$71.50           
    Price of                                                                  
    the                                                                       
    Shares as                                                                 
    at 18th                                                                   
    March, 2005