09:47 <02282>, <04450>, <03625>, <03517> & <04624>-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. MACQUARIE BANK LIMITED (ABN 46 008 583 542) (incorporated under the laws of Australia) Notice of Expiry relating to the following warrants (the "Warrants"): Stock Code 2282 4450 3625 3517 4624 Company Cheung Kong (Holdings) Limited Hutchison Whampoa Limited Maanshan Iron & Steel Company Limited PetroChina Company Limited Yanzhou Coal Mining Company Limited Shares Existing issued ordinary shares of HK$0.50 each of the Company Existing issued ordinary shares of HK$0.25 each of the Company Existing issued ordinary H shares of RMB1.00 each of the Company Existing issued ordinary H shares of RMB1.00 each of the Company Existing issued ordinary H shares of RMB1.00 each of the Company Type Average Return Call Average Return Call Call Call Call Issue Size 238,000,000 333,000,000 250,000,000 388,000,000 388,000,000 Expiry Date 6 June 2005 6 June 2005 6 June 2005 6 June 2005 6 June 2005 Exercise Price HK$63.88 per ten Warrants HK$66.00 per ten Warrants HK$3.50 per Warrant HK$4.44 per Warrant HK$9.88 per ten Warrants Board Lot 10,000 10,000 2,000 2,000 20,000 Entitlement One Share One Share One Share One Share One Share Number of Warrant(s) per Entitlement Ten Warrants Ten Warrants One Warrant One Warrant Ten Warrants Periodic Fixing Dates 1 November 200411 January 200529 March 20056 June 2005 8 November 200417 January 200529 March 20056 June 2005 Not applicable Not applicable Not applicable Last Trading Date 31 May 2005 31 May 2005 31 May 2005 31 May 2005 31 May 2005 Closing prices of the Warrants as of 23 May 2005 HK$0.61 HK$0.018 HK$0.01 HK$0.36 HK$0.015 Closing prices of the Shares as of 23 May 2005 HK$70.25 HK$67.00 HK$2.475 HK$4.775 HK$10.00 Macquarie Bank Limited (the "Issuer") would like to remind holders of the Warrants that under the terms and conditions of the Warrants (the " Conditions"), the Warrants will expire at 10:00 a.m. (Hong Kong time) on the Expiry Date. Each Warrant will automatically be exercised at 10:00 a. m. (Hong Kong time) on the Expiry Date without notice being given to the holders of the Warrants if the Cash Settlement Amount (defined below) is greater than zero. Unless automatically exercised, the Warrants will expire immediately after the Expiry Date and all rights of the holders of Warrants and obligations of the Issuer shall cease. Warrants may only 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. Every Board Lot gives the holder thereof the right to receive from the Issuer on exercise an amount in Hong Kong dollars (the "Cash Settlement Amount") calculated by the Issuer as set out below: In respect of Stock Codes 2282 and 4450, Cash Settlement Amount per Board Lot = Entitlement x ( Sum of the Periodic Reference Prices - Exercise Price ) x One Board Lot Number of Periodic Fixing Dates Number of Warrants per Entitlement In respect of Stock Codes 3625, 3517 and 4624, Cash Settlement Amount per Board Lot = Entitlement x (Average Price - Exercise Price) x One Board Lot Number of Warrants per Entitlement "Average Price" shall be the arithmetic mean of the closing prices of one Share (as derived from the Daily Quotation Sheet of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), subject to any adjustments (as determined by the Issuer in accordance with the Conditions) to such closing prices as may be necessary to reflect any capitalisation, rights issue, distribution or the like) for each of the 5 Valuation Dates (as defined in the Conditions) prior to expiry.