09:36     <04447>, <09755>, <09514> & <09705> - Announcement (2)              

    9705       Hutchison  Call       Ten        34.30      2nd July,          
               Whampoa               Warrants              2004# 4th          
               Limited                                     October,           
                                                           2004# 3rd          
                                                           January,           
                                                           2005# 1st          
                                                           April,             
                                                           2005# 4th          
                                                           July,              
                                                           2005 3rd           
                                                           October,           
                                                           2005               
                                                                              
                                                                              
                                                                              
    # Investors should note that the Quarterly Cash Settlement Amount         
    (cumulative to date) of the Warrants set out above reflect the sum of     
    the Quarterly Cash Settlement Amount in respect of these dates only.      
                                                                              
                                                                              
    ## Investors should note that the Warrants are European style and         
    may only be exercised on the relevant Expiry Date. In respect of each     
    issue of Warrants, each respective Exercise Amount 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 (1) the sum of the Quarterly Cash            
    Settlement Amount divided by the number of Quarterly Fixing Dates         
    less (2) the Exercise Expenses.                                           
                                                                              
    Investors should note that the calculation of the Cash Settlement         
    Amount of the Warrants take into account the Quarterly Cash               
    Settlement Amount at each Quarterly Fixing Date. The Cash Settlement      
    Amount of the Warrants will unlikely be the same as the relevant          
    Quarterly Cash Settlement Amount set out above.                           
                                                                              
    * Investors should note that the description `Locked-in Return'           
    refers to the calculation of the return on the Warrants only; there       
    is no guaranteed return on the Warrants where the arithmetic mean of      
    the closing price (calculated in accordance with the terms and            
    conditions of the Warrants) of the Shares on the five Valuation Dates     
    in respect of each Quarterly Fixing Date is less than or equal to the     
    Exercise Price. Please refer to the terms and conditions of the           
    Warrants in the relevant Supplemental Listing Document.                   
                                                                              
                                                                              
    By Order of the Board                                                     
    KBC Financial Products International Ltd.                                 
                                                                              
                                                                              
    Hong Kong, 11th April, 2005