09:42     <04785>,<04786>,<04787>,<04788>&<04789> - Announcement (4)          

    Compiler and/or Hang Seng Data Services in connection with the Warrants   
    in any manner whatsoever by any broker, holder or other person dealing    
    with the Warrants. Any broker, holder or other person dealing with the    
    Warrants does so therefore in full knowledge of this disclaimer and can   
    place no reliance whatsoever on the Index Compiler and/or Hang Seng       
    Data Services. For the avoidance of doubt, this disclaimer does not       
    create any contractual or quasi-contractual relationship between any      
    broker, holder or other person and the Index Compiler and/or Hang Seng    
    Data Services and must not be construed to have created such              
    relationship.                                                             
                                                                              
    By Order of the Board                                                     
    KBC Financial Products International Ltd.                                 
    Hong Kong, 1st April, 2005