09:42     <04824>, <04825> & <04826> - Announcement (3)                       

    The Issuer acting through its appointed liquidity provider may be the     
    only market participant in the Warrants and the secondary market for      
    the Warrants may be limited. The Issuer has appointed Deutsche            
    Securities Asia Limited (Broker ID Number: 9533, Tel: (852) 2203 6116,    
    Address: 55/F, Cheung Kong Center, 2 Queen's Road Central, Hong Kong)     
    as its liquidity provider. The liquidity provider will provide            
    liquidity by responding to requests for bid and offer quotes. A quote     
    may be obtained by calling the above telephone number.                    
                                                                              
    In the secondary market, the Issuer or any of its affiliates may from     
    time to time implement promotion programmes with a selected number of     
    brokers or banks within a selected period of time. Under such             
    programmes, retail investors may be offered a partial or total            
    commission rebate or other forms of incentives in connection with         
    certain warrants issued by the Issuer.                                    
                                                                              
    Hong Kong, 15th April, 2005