09:29     CS-CLIFE@XC0504<09620> - Announcement                               

    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                                                          
    of                                                                        
    650,000,000 European Style (Cash Settled) Average Return Call             
    Warrants in                                                               
                                                                              
    Global Registered Form due April 28, 2005                                 
    relating to the existing issued ordinary H shares of                      
    RMB1.00 each of China Life Insurance Company Limited                      
    (Stock Code: 9620)                                                        
    (the `Warrants')                                                          
    issued by                                                                 
    CREDIT SUISSE FIRST BOSTON                                                
    (incorporated under the laws of Switzerland)                              
    Manager and Sponsor                                                       
    CREDIT SUISSE FIRST BOSTON (HONG KONG) LIMITED                            
                                                                              
    Credit Suisse First Boston (the `Issuer') would like to remind            
    holders of the Warrants that under the terms and conditions of the        
    Warrants (the `Conditions'), the rights to exercise the Warrants will     
    expire at 10:00 a.m. (Hong Kong time) on April 28, 2005 (subject to       
    adjustment) (the `Expiry Date'). The warrants are European Style and      
    exercisable only on the Expiry Date. Each Warrant gives the               
    Warrantholder the right to payment (if any) of the Cash Settlement        
    Amount being an amount in Hong Kong dollars calculated by the Issuer      
    as equal to (1) The sum of the Periodic Reference Prices divided by       
    the number of Periodic Fixing Dates less (2) the Exercise Price and       
    the Exercise Expenses (as defined in the terms and conditions of the      
    Warrants).                                                                
                                                                              
    `Periodic Reference Price' means, in respect of each Periodic Fixing      
    Date, an amount in Hong Kong Dollars calculated by the Issuer as          
    equal to the Entitlement (subject to adjustment) in respect of such       
    Periodic Fixing Date multiplied by the arithmetic mean of the closing     
    price of the Shares (as derived from the Daily Quotation Sheet of the     
    Stock Exchange, subject to any adjustments to such closing prices as      
    may be necessary to reflect any capitalisation, rights issue,             
    distribution or the like) for each Valuation Date with respect to         
    each Periodic Fixing Date.                                                
                                                                              
    If on the Expiry Date the Cash Settlement Amount is greater than          
    zero then the Warrants will be deemed automatically exercised by each     
    Warrantholder. If the Cash Settlement Amount is less than zero on the     
    Expiry Date, the Warrant will not be exercised and the Warrantholder      
    will lose the value of his investment.                                    
                                                                              
    The Cash Settlement Amount shall be despatched no later than three        
    Business Days following the Expiry Date.                                  
                                                                              
    The Issuer has made the following arrangements regarding dealings in      
    and transfers and exercise of the Warrants:-                              
                                                                              
    1.                                                                        
    The last trading day of the Warrants on the Stock Exchange is             
    expected to be April 22, 2005.                                            
                                                                              
    2.                                                                        
    Application will be made for the listing of the Warrants on the           
    Stock Exchange to be withdrawn with effect from the close of business     
    on the Expiry Date.                                                       
                                                                              
    The closing price of the Warrants on April 6, 2005 and the closing        
    price of the shares to which the Warrants relate on April 6, 2005 are     
    set out below. The Exercise Price of the Warrants is also set out         
    below.                                                                    
                                                                              
    Closing price of     Closing Price of     Exercise Price                  
    Warrant              the related share                                    
                                                                              
    HK$0.01              HK$5.25              HK$7.08 per Warrant             
                                                                              
                                                                              
                                                                              
    Hong Kong, April 7, 2005.