09:14     MBPCCWL@XC0506A<09113> - Last Day of Dealings                       

    Market participants are requested to note that dealings in the 2005       
    European Style Average Return Call Warrants (Cash Settled) relating to    
    existing issued ordinary shares of HK$0.25 each of PCCW Limited issued by 
    Macquarie Bank Limited (stock code: 9113) will cease after the close of   
    business on Friday, 27/05/2005 and listing of which will be withdrawn     
    after the close of business on Thursday, 02/06/2005.