10:24 SG-SHK P@EC0505<03507> - 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. 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 3507 Company Sun Hung Kai Properties Limited Shares Existing issued ordinary shares of HK$0.50 each of the Company Type Call Issue Size 238,000,000 Expiry Date 17 May 2005 Exercise Price HK$78.18 per 10 warrants Board Lot 10,000 Exercise Amount 10 Warrants Entitlement 1 Share Last Trading Date 10 May 2005 Closing Price of the Warrants on 3 May 2005 HK$0.014 Closing Price of the Shares on 3 May 2005 HK$74.50 Out of the Money on 3 May 2005 (based on the Exercise Price ) 4.71% Stock Code 3512 Company China Life Insurance Company Limited Shares Existing issued ordinary H shares of RMB1.00 each of the Company Type Call Issue Size 185,000,000 Expiry Date 23 May 2005 Exercise Price HK$5.82 per warrant Board Lot 1,000 Exercise Amount 1 Warrant Entitlement 1 Share Last Trading Date 17 May 2005 Closing Price of the Warrants on 3 May 2005 HK$0.01 Closing Price of the Shares on 3 May 2005 HK$5.20 Out of the Money on 3 May 2005 (based on the Exercise Price ) 10.65% Stock Code 3513 Company Ping An Insurance (Group) Company Limited Shares Existing issued ordinary H shares of RMB1.00 each of the Company Type Call Issue Size 85,000,000 Expiry Date 23 May 2005 Exercise Price HK$13.32 per warrant Board Lot 500 Exercise Amount 1 Warrant Entitlement 1 Share Last Trading Date 17 May 2005 Closing Price of the Warrants on 3 May 2005 HK$0.014 Closing Price of the Shares on 3 May 2005 HK$11.75 Out of the Money on 3 May 2005 (based on the Exercise Price ) 11.79% 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.