09:06     DB-HSI @EC0510A<04822> - New Listing                                

    Market participants are requested to note that dealings in the 2005       
    European Style (Cash Settled) Index Call Warrants relating to the         
    Hang Seng Index issued by Deutsche Bank AG will commence at 9:30 a.m.     
    on Thursday, 21/04/2005 under the following particulars:-                 
                                                                              
                                                                              
    Stock Code      Stock Short Name        Board Lot                         
    ----------      ----------------        ---------                         
    4822            DB-HSI @EC0510A         10,000 units                      
                                                                              
    technical consultancy and training                                        
                                                                              
    Total investment:        RMB872,620,000                                   
      (in HK$ equivalent)        (HK$823,226,415)                             
                                                                              
    Total registered capital:        RMB211,610,000                           
      (in HK$ equivalent)        (HK$199,632,075)                             
                                                                              
    Share of registered capital:        Longyuan Electric        Nantong      
    TSG Electric        Crownplus                                             
                                                                              
            RMB105,805,000        RMB52,902,500        RMB52,902,500          
      (in HK$ equivalent)        (HK$99,816,038)        (HK$49,908,019)       
    (HK$49,908,019)                                                           
      (% of total registered capital)        (50%)        (25%)               
    (25%)                                                                     
                                                                              
    Payment of registered capital                                             
                                                                              
    Number of directors a party                                               
      may nominate                                                            
                                                                              
    Quorum requirements        Same as the Sino-foreign equity joint          
    venture                                                                   
                                                                              
    Ordinary matters in board         contract regarding Jilin Sanyuan        
      meeting:                                                                
                                                                              
    Senior management                                                         
                                                                              
    Major obligations of the joint         1.        obtain any approval      
    of Jiangsu Longyuan's projects;                                           
      venture parties:        2.        apply for approval, registration      
    and obtain business licence from relevant authorities etc.;               
            3.        confirm matters in relation to equipment, design,       
    making purchase order and delivery of products etc.; and                  
            4.        report and obtain approval from relevant authorities    
    regarding the electricity prices                                          
                                                                              
    Term of joint venture:        25 years from the date of the issue of      
    business licence of Jiangsu Longyuan                                      
                                                                              
    Shares of loss and profits,         pro rata to the registered capital    
    of each joint venture partner                                             
      return of capital:                                                      
                                                                              
    Governing law:        PRC                                                 
                                                                              
    The establishment of the joint venture companies will be subject to       
    the approval of the relevant PRC authorities and approvals by the         
    shareholders of all the joint venture partners.                           
                                                                              
    Terms of the articles of association of Jiangsu Longyuan and Jilin        
    Sanyuan mirror those of the respective Sino-foreign joint venture         
    contracts.                                                                
                                                                              
    Jilin Sanyuan                                                             
                                                                              
    The kenetic power plant project of Jilin Sanyuan has been approved by     
    the NDRC as follows:                                                      
                                                                              
    1.         the period of authorised operation would be 25 years           
    2.        the construction size would be 100 megawatt                     
    3.        the total investment and registered capital would be            
    RMB811,960,000 and RMB269,020,000 respectively                            
    4.         prior to the production of 30,000 hours of electricity,        
    Jilin Sanyuan would be entitled to a electricity rate of RMB0.509 per     
    hour for each kilowatt. After the production of electricity has           
    reached 30,000 hours until the end of the authorised operation period,    
    the electricity price would be calculated according to the average        
    localgrid electricity price. The actual price would be determined by      
    the relevant price authority                                              
    5.         the approval is subject to the application of CDM.             
                                                                              
    Approval in principal has been obtained from the Jilin Land Bureau in     
    respect of the use of land under the project pursuant to article 26 of    
    the PRC Land Law. Jilin Sanyuan will be responsible for payment in        
    respect of the land allocated for such purpose and represents part of     
    the total investment. It is expected that Jilin Sanyuan will be           
    allocated approximately 552,300 sq. m. land for the purpose of            
    installation of wind turbines, laying of connecting cables, the main      
    plant and other offices. The exact area of the land to be allocated