09:05     Closing Bid and Ask Quotes in London                                

                                                                              
    Closing bid and ask quotes on 18 April 2005 as quoted by SEAQ (London)    
    are as follows:                                                           
                                                                              
    (HK$)                BID      ASK    (HK$)                BID      ASK    
    BEIJING YANHUA   :    -       3.89   HOPEWELL HOLD    :    -      18.95   
    BANK OF E ASIA   :    -      23.12   HSBC HOLDINGS    :    -        -     
    BOC HONG KONG    :    -      14.57   HUANENG POWER    :    -        -     
    CATHAY PAC AIR   :    -        -     HUTCHISON        :    -        -     
    CHEUNG KONG      :    -        -     HYSAN DEV        :  14.99      -     
    CHINA RESOURCES  :    -        -     JOHNSON ELEC H   :    -        -     
    CHINA MOBILE     :  24.35      -     LENOVO GROUP     :    -        -     
    CHINA TELECOM    :    -       2.70   LI & FUNG        :    -        -     
    CHINA UNICOM     :    -        -     MTR CORPORATION  :  11.54    12.26   
    CITIC PACIFIC    :    -        -     NEW WORLD DEV    :    -       8.03   
    CKI HOLDINGS     :    -        -     NEW WORLD TMT    :    -        -     
    CLP HOLDINGS     :    -        -     PCCW             :    -        -     
    CNOOC            :    -        -     SCMP GROUP       :   3.44      -     
    DATANG POWER     :    -        -     SHANGHAI IND H   :    -      16.63   
    ESPRIT HOLDINGS  :    -        -     SHANGHAI PECHEM  :   2.74      -     
    FIRST PACIFIC    :    -        -     SHANGRI-LA ASIA  :    -        -     
    GREAT EAGLE H    :  16.49      -     SMARTONE TELE    :    -        -     
    GUANGSHEN RAIL   :    -       2.52   SHK PPT          :    -        -     
    HANG LUNG GROUP  :    -      14.11   SINO LAND        :    -        -     
    HANG LUNG PPT    :  10.96      -     SWIRE PACIFIC A  :    -       7.31   
    HANG SENG BANK   :    -        -     TRACKER FUND     :    -        -     
    HENDERSON LAND   :    -        -     WHARF HOLDINGS   :    -        -     
    HK & CHINA GAS   :    -        -     WHEELOCK         :  10.57      -     
    HK ELECTRIC      :    -        -     ZHEJIANGEXPRESS  :    -        -