09:13     Closing Bid and Ask Quotes in London                                

                                                                              
    Closing bid and ask quotes on 21 March 2005 as quoted by SEAQ (London)    
    are as follows:                                                           
                                                                              
    (HK$)                BID      ASK    (HK$)                BID      ASK    
    BEIJING YANHUA   :   3.64      -     HOPEWELL HOLD    :  18.58      -     
    BANK OF E ASIA   :    -      23.54   HSBC HOLDINGS    :    -        -     
    BOC HONG KONG    :  14.11      -     HUANENG POWER    :    -        -     
    CATHAY PAC AIR   :    -        -     HUTCHISON        :    -        -     
    CHEUNG KONG      :    -        -     HYSAN DEV        :  16.01      -     
    CHINA RESOURCES  :    -        -     JOHNSON ELEC H   :    -        -     
    CHINA MOBILE     :  25.56      -     LENOVO GROUP     :    -        -     
    CHINA TELECOM    :    -       2.86   LI & FUNG        :    -        -     
    CHINA UNICOM     :    -        -     MTR CORPORATION  :  11.93    12.67   
    CITIC PACIFIC    :    -        -     NEW WORLD DEV    :   7.61      -     
    CKI HOLDINGS     :    -        -     NEW WORLD TMT    :    -        -     
    CLP HOLDINGS     :    -        -     PCCW             :    -        -     
    CNOOC            :    -        -     SCMP GROUP       :    -       3.55   
    DATANG POWER     :    -        -     SHANGHAI IND H   :  16.44      -     
    ESPRIT HOLDINGS  :    -        -     SHANGHAI PECHEM  :   3.18      -     
    FIRST PACIFIC    :    -        -     SHANGRI-LA ASIA  :    -        -     
    GREAT EAGLE H    :  16.73      -     SMARTONE TELE    :    -        -     
    GUANGSHEN RAIL   :   2.79      -     SHK PPT          :    -        -     
    HANG LUNG GROUP  :    -      14.42   SINO LAND        :   7.23      -     
    HANG LUNG PPT    :  11.40      -     SWIRE PACIFIC A  :    -        -     
    HANG SENG BANK   :    -        -     TRACKER FUND     :    -        -     
    HENDERSON LAND   :    -        -     WHARF HOLDINGS   :    -        -     
    HK & CHINA GAS   :    -        -     WHEELOCK         :    -      12.10   
    HK ELECTRIC      :    -        -     ZHEJIANGEXPRESS  :    -        -