09:57     <04762>, <04763>, <04764> & <04765> - 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.                                                             
                                                                              
    148,000,000 European Style (Cash Settled) Put Warrants 2005               
    relating to existing issued ordinary shares of                            
    HK$0.25 each of Hutchison Whampoa Limited                                 
    ("Series A")                                                              
                                                                              
    168,000,000 European Style (Cash Settled) Put Warrants 2005               
    relating to existing issued ordinary shares of                            
    HK$0.50 each of Sun Hung Kai Properties Limited                           
    ("Series B")                                                              
                                                                              
    400,000,000 European Style (Cash Settled) Put Warrants 2005               
    relating to existing issued ordinary shares of                            
    HK$0.10 each of China Mobile (Hong Kong) Limited                          
    ("Series C")                                                              
                                                                              
    280,000,000 European Style (Cash Settled) Call Warrants 2005-2006         
    relating to existing issued ordinary shares of                            
    HK$1.00 each of Hongkong Electric Holdings Limited                        
    ("Series D")                                                              
                                                                              
    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 ten        
    warrants relating to one existing issued ordinary share of HK$0.25 each   
    of Hutchison Whampoa Limited, in respect of Series B, every ten           
    warrants relating to one existing issued ordinary share of HK$0.50 each   
    of Sun Hung Kai Properties Limited, in respect of Series C, every ten     
    warrants relating to one existing issued ordinary share of HK$0.10 each   
    of China Mobile (Hong Kong) Limited, and in respect of Series D, every    
    ten warrants relating to one existing issued ordinary share of HK$1.00    
    each of Hongkong Electric Holdings Limited.                               
                                                                              
    Warrants    Share  Company                             Issue Price        
                                                                              
    Series A  HK$0.25  Hutchison Whampoa Limited              HK$0.620        
                                                                              
    Series B  HK$0.50  Sun Hung Kai Properties Limited        HK$0.592        
                                                                              
    Series C  HK$0.10  China Mobile (Hong Kong) Limited       HK$0.250        
                                                                              
    Series D  HK$1.00  Hongkong Electric Holdings Limited     HK$0.270        
                                                                              
             Expiry Date  Trading Board Lots  Exercise Price                  
                                                                              
      7th November, 2005              10,000        HK$68.00                  
                                                                              
       6th October, 2005              10,000        HK$74.00                  
                                                                              
     28th November, 2005               5,000        HK$25.68                  
                                                                              
    20th September, 2006               5,000        HK$32.00                  
                                                                              
    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 ten     
    warrants 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