10:07     BP-ALUCO@EC0504<04590> - Announcement                               

    The Stock Exchange of Hong Kong Limited (the "Stock Exchange" takes no res
                                                                              
    Notice of Expiry of Warrants                                              
    issued by                                                                 
    BNP Paribas Arbitrage Issuance B.V.                                       
    (incorporated in the Netherlands with its statutory seat in Amsterdam)    
                                                                              
    unconditionally and irrevocably guaranteed by                             
    BNP Paribas                                                               
    (incorporated in France)                                                  
                                                                              
    Sponsor/Manager                                                           
    Paribas Asia Equity Limited                                               
    Notice of Expiry relating to the following warrants (together the Warrants
    Stock Code      4590                                                      
    Company Aluminum Corporation of China Limited                             
    Shares  Existing issued ordinary H shares of RMB1.00 each of the Company  
    Type    Call                                                              
    Issue Size      80,000,000                                                
    Expiry Date     15 April 2005                                             
    Exercise Price  HK$5.80 per Warrant                                       
    Board Lot       2,000 Warrants                                            
    Entitlement     One Share                                                 
    Exercise Amount One Warrant                                               
    Last Trading Date       11 April 2005                                     
    Closing price of the Warrants as of 4 April 2005        HK$0.018          
    Closing price of the Shares as of 4 April 2005  HK$4.625                  
                                                                              
    BNP Paribas Arbitrage Issuance B.V. (the "Issuer" would like to remind hol
                                                                              
    The Warrants are European Style and exercisable only on the Expiry Date.  
                                                                              
    Every Exercise Amount gives the Warrantholder the right to payment (if any
                                                                              
            Entitlement x (Closing Price - Exercise Price) -  Exercise Expense
                                                                              
    "Closing Price"  means the arithmetic mean of the closing price of one Sha
                                                                              
    "Exercise Expenses"  has the meaning given to it in the Conditions.       
                                                                              
    If on the Expiry Date the Cash Settlement Amount is greater than zero then
                                                                              
    The Cash Settlement Amount shall be despatched no later than three Busines
                                                                              
    Regarding the dealings in and transfers and exercise of the Warrants, the 
                                                                              
                                                                              
    Hong Kong, 6 April 2005