09:57     SG-BRI C@EC0505<04646> & SG-CP&CC@EC0505<04647> - Ann. (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.                                                             
                                                                              
                                                                              
    Notice of Expiry relating to certain European Style (Cash Settlement)     
    Warrants 2004/2005                                                        
    issued by SGA Societe Generale Acceptance N.V.                            
    (incorporated in the Netherlands Antilles with limited liability)         
    and unconditionally and irrevocably guaranteed by Societe Generale        
    (incorporated in France)                                                  
                                                                              
                                                                              
    Notice of Expiry relating to the following warrants                       
    (together, the "Warrants"):                                               
                                                                              
    Stock Code      4646                                                      
    Company         Brilliance China Automotive Limited                       
    Shares  Existing issued ordinary shares of US$0.01 each of the Company    
    Type    Call                                                              
    Issue Size      323,000,000                                               
    Expiry Date     09 May 2005                                               
    Exercise Price  HK$1.66 per warrant                                       
    Board Lot       2,000                                                     
    Exercise Amount 1 Warrant                                                 
    Entitlement     1 Share                                                   
    Last Trading Date       03 May 2005                                       
    Closing Price of the Warrants on 26 April 2005  HK$0.01                   
    Closing Price of the Shares on 26 April 2005    HK$1.29                   
    In / Out of the Money on 26 April 2005 (based on the Exercise Price )     
    22.29%Out of Money                                                        
                                                                              
    Stock Code      4647                                                      
    Company         China Petroleum & Chemical Corporation                    
    Shares  Existing issued ordinary H shares of RMB1.00 each of the Company  
    Type    Call                                                              
    Issue Size      345,000,000                                               
    Expiry Date     09 May 2005                                               
    Exercise Price  HK$3.08 per warrant                                       
    Board Lot       2,000                                                     
    Exercise Amount 1 Warrant                                                 
    Entitlement     1 Share                                                   
    Last Trading Date       03 May 2005                                       
    Closing Price of the Warrants on 26 April 2005  HK$0.089                  
    Closing Price of the Shares on 26 April 2005    HK$3.15                   
    In / Out of the Money on 26 April 2005 (based on the Exercise Price )     
    2.27% In the Money                                                        
                                                                              
    SGA Societe Generale Acceptance N.V. (the "Issuer") would like to         
    remind holders of the Warrants (the "Warrantholders") 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 the   
    Expiry Date. Any Warrants which have not been exercised on or before      
    such time will lapse and the permanent global certificate in respect of   
    the Warrants will expire immediately thereafter and all rights of the     
    Warrantholder with respect to such Warrants shall cease. The Warrants     
    must 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 and no register of Warrantholders is maintained in         
    respect of the Warrants.                                                  
                                                                              
    Every Exercise Amount will entitle the holder on exercise thereof to      
    receive from the Issuer a cash amount (if positive) (the "Cash            
    Settlement Amount") payable in Hong Kong dollars equal to the             
    Entitlement multiplied by (i) the average of the closing prices of,       
    subject to adjustment, the underlying Share (as derived from the Daily    
    Quotation Sheet of the Stock Exchange subject to any adjustments as may   
    be necessary) for the five business days immediately preceding the        
    Expiry Date less (ii) the Exercise Price.