09:44     DB-HSI  @EP0507<03799> - Announcement (3)                           

    connection with the Warrants, or for any inaccuracies, omissions,         
    mistakes or errors of the Index Compiler in the computation of the        
    Index or for any economic or other loss which may be directly or          
    indirectly sustained by any broker or holder of the Warrants or any       
    other person dealing with the Warrants as a result thereof and no         
    claims, actions or legal proceedings may be brought against the Index     
    Compiler and/or Hang Seng Data Services in connection with the Warrants   
    in any manner whatsoever by any broker, holder or other person dealing    
    with the Warrants. Any broker, holder or other person dealing with the    
    Warrants does so therefore in full knowledge of this disclaimer and can   
    place no reliance whatsoever on the Index Compiler and Hang Seng Data     
    Services, For the avoidance of doubt, this disclaimer does not create     
    any contractual or quasi-contractual relationship between any broker,     
    holder or other person and the Index Compiler and/or Hang Seng Data       
    Services and must not be construed to have created such relationship.     
                                                                              
    Hong Kong, 5th May, 2005