09:52     CG-PETCH@EC0504<04619> - 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                                                                        
    150,000,000 European Style (Cash Settled) Call Warrants                   
    2004-2005                                                                 
    relating to the existing issued ordinary H shares of                      
    RMB1.00 each of PetroChina Company Limited                                
    (Stock Code: 4619)                                                        
    (the "Warrants")                                                          
                                                                              
    issued by                                                                 
                                                                              
    Citigroup Global Markets Holdings Inc.                                    
    (a corporation duly incorporated and existing under the laws              
    of the State of New York, the United States of America)                   
                                                                              
    Citigroup Global Markets Holdings Inc. (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 27th April, 2005 (subject to adjustment) (the "Expiry Date").          
    The Warrants are European Style and exercisable only on the               
    Expiry Date. Every Warrant gives each 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 the             
    sum of:                                                                   
                                                                              
    Entitlement x (Closing Price - Exercise Price) - Exercise                 
    Expenses,                                                                 
                                                                              
    where: (i) "Entitlement" means one share, (ii) "Closing Price"            
    is the arithmetic mean of the closing price of one share (as              
    derived from the Daily Quotation Sheet of the Stock Exchange              
    (subject to any adjustment)) for each Valuation Date (being each          
    of the five Business Days (as defined in the Conditions)                  
    immediately preceding the Expiry Date), (iii) "Exercise Price"            
    means HK$4.50 for each Warrant, and (iv) Exercise Expenses has            
    the meaning given to that term in the Conditions.                         
                                                                              
    If on the Expiry Date the Cash Settlement Amount is greater than          
    zero, the Warrants will be deemed automatically exercised by              
    each Warrantholder. If the Cash Settlement Amount is less than            
    or equal to zero on the Expiry Date, 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, by way of cheque,          
    drawn in favour of the Warrantholder (or in the case of joint             
    Warrantholders, the first-named Warrantholder) appearing in the           
    register kept by the Registrar (as defined below).                        
                                                                              
    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 21st April, 2005.                                       
                                                                              
    2.      In order to facilitate the transfer and exercise of Warrants      
    by holders of Warrants who have not registered such Warrants              
    in their own names, the following arrangements have been made             
    with Computershare Hong Kong Investor Services Limited (the               
    "Registrar"). Holders of Warrants who have not registered such            
    Warrants in their names and wish to exercise the Warrants should          
    lodge with the Registrar at Shops 1712-1716, 17th Floor, Hopewell Centre, 
    183 Queen's Road East, Hong Kong at or before 10:00 a.m. (Hong            
    Kong time) on the Expiry Date the following:-                             
                                                                              
    (i)     the relevant duly executed instruments of transfer in respect     
    of the Warrants; and                                                      
                                                                              
    (ii)    the relevant certificates for the Warrants.                       
                                                                              
    Such holders of Warrants may need to bear the cost of any                 
    expedited registration service.                                           
                                                                              
    3.      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 prices of the Warrants and of the Shares as quoted            
    on the Stock Exchange on 8th April, 2005 were HK$0.51 per Warrant         
    and HK$5.00 per Share respectively. The Exercise Price of the             
    Warrant is HK$4.50 per Warrant.                                           
                                                                              
    Hong Kong, 11th April, 2005