09:53 <04623><09859><02203><02182><04645> - Announcement (1) 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. MACQUARIE BANK LIMITED (ABN 46 008 583 542) (incorporated under the laws of Australia) Notice of Expiry relating to the following warrants (the "Warrants"): Stock Code 4623 9859 2203 2182 4645 Company Cheung Kong (Holdings) Limited CLP Holdings Limited Hang Seng Bank Limited Sun Hung Kai Properties Limited HSBC Holdings plc Shares Existing issued ordinary shares of HK$0.50 each of the Company Existing issued ordinary shares of HK$5.00 each of the Company Existing issued ordinary shares of HK$5.00 each of the Company Existing issued ordinary shares of HK$0.50 each of the Company Existing issued ordinary shares of US$0.50 each of the Company Type Put Call Average Return Call Call Call Issue Size 250,000,000 368,000,000 250,000,000 138,000,000 388,000,000 Expiry Date 26 April 2005 3 May 2005 3 May 2005 3 May 2005 3 May 2005 Exercise Price HK$61.88 per ten Warrants HK$43.88 per ten Warrants HK$99.99 per ten Warrants HK$68.88 per ten Warrants HK$128.88 per ten Warrants Board Lot 10,000 5,000 1,000 10,000 4,000 Entitlement Ratio One Share per ten Warrants One Share per ten Warrants One Share per ten Warrants One Share per ten Warrants One Share per ten Warrants Last Trading Date 20 April 2005 26 April 2005 26 April 2005 26 April 2005 26 April 2005 Closing prices of the Warrants as of 14 April 2005 HK$0.014 HK$0.021 HK$0.60 HK$0.405 HK$0.029 Closing prices of the Shares as of 14 April 2005 HK$72.50 HK$44.40 HK$104.50 HK$72.75 HK$124.50 Macquarie Bank Limited (the "Issuer") would like to remind holders of the Warrants that under the terms and conditions of the Warrants (the " Conditions"), the Warrants will expire at 10:00 a.m. (Hong Kong time) on the Expiry Date. Each Warrant will automatically be exercised at 10:00 a. m. (Hong Kong time) on the Expiry Date without notice being given to the holders of the Warrants if the Cash Settlement Amount (defined below) is greater than zero. Unless automatically exercised, the Warrants will expire immediately after the Expiry Date and all rights of the holders of Warrants and obligations of the Issuer shall cease. Warrants may only be exercised in a Board Lot or integral multiples thereof. The Warrants are European Style and exercisable only on the Expiry Date. The Warrants are in global registered form. No registrar has been appointed. Every Board Lot gives the holder thereof the right to receive from the Issuer on exercise an amount in Hong Kong dollars (the "Cash Settlement Amount") calculated by the Issuer as set out below: In respect of Stock Codes 2182 and 4645, Cash Settlement Amount per Board Lot = Entitlement x (Average Price -Exercise Price ) x One Board Lot Number of Warrants per Entitlement In respect of Stock Code 4623, Cash Settlement Amount per Board Lot = Entitlement x (Exercise Price - Average Price) x One Board Lot Number of Warrants per Entitlement In respect of Stock Code 9859, Cash Settlement Amount per Board Lot = (Average Price - Exercise Price) x One Board Lot Entitlement In respect of Stock Code 2203, Cash Settlement Amount per Board Lot = Entitlement x ( Sum of the Periodic Reference Prices - Exercise Price ) x One Board Lot Number of Periodic Fixing Dates Number of Warrants per Entitlement "Average Price" shall be the arithmetic mean of the closing prices of one Share (as derived from the Daily Quotation Sheet of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), subject to any adjustments (as determined by the Issuer in accordance with the Conditions) to such closing prices as may be necessary to reflect any capitalisation, rights issue, distribution or the like) for each of the 5 Valuation Dates (as defined in the Conditions) prior to expiry.