09:52     DB-YZ CM@EC0510<03736> - Announcement (2)                           

    N  =   0.6 (being the number of additional Shares received by a holder    
           of existing Shares for each Share held prior to the Bonus Issue)   
                                                                              
    (b)  Exercise Price                                                       
                                                                              
    The Exercise Price will be adjusted as follows:                           
                                                                              
    Adjusted Exercise Price = Existing Exercise Price x (1/Adjusted           
    Entitlement)                                                              
                                                                              
    Based on the above adjustments, the Adjusted Entitlement and the          
    Adjusted Exercise Price of the Warrants will be as follows:               
                                                                              
                                     Adjusted         Adjusted                
    Stock Short Name  Stock Code  Entitlement   Exercise Price                
                                                                              
    DB-YZ CM@EC0510         3736   1.6 Shares         HK$7.625                
                                               per 10 Warrants                
                                                                              
    The above adjustments will take effect on the Ex-Date, which is           
    expected to be 26 May 2005.                                               
                                                                              
    Warrant Certificate                                                       
                                                                              
    Existing warrant certificates will continue to be valid for all           
    purposes without further amendment.                                       
                                                                              
    Board Lots                                                                
                                                                              
    Board lot sizes will not be changed.                                      
                                                                              
    Exercise Notices and Forms of Transfer                                    
                                                                              
    Existing exercise notices will continue to be valid for the purposes of   
    exercising the Warrants without further amendment. Existing forms of      
    transfer will continue to be valid for the purpose of effecting           
    transfers of the Warrants without further amendment.                      
                                                                              
    Notice                                                                    
                                                                              
    This announcement constitutes due and valid notice by the Issuer to       
    each relevant registeredholder of the Warrants set out above insofar as   
    such notice is required, under the terms andconditions of such            
    Warrants, to be made by way of publication in English and Chinese on      
    the website of Hong Kong Exchanges and Clearing Limited.                  
                                                                              
    Hong Kong, 26 May 2005