Note:

* *The minimum investment amount starts from HKD100,000 or foreign currency equivalent, depending on the type of CD and the respective market price at the point of issue.

Remarks:
* Credit ratings: Moody's / Standard and Poor's

1. Please note that all the information above is quoted as at 16 August 2005 for reference only.
2. The price of CDs can and does fluctuate and any individual CD may experience upward or downward movements, and may even become valueless. There is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling CDs.
3. This information is issued by The Hongkong and Shanghai Banking Corporation Limited. It is based on information obtained from sources believed to be reliable but we make no representation and accept no responsibility as to its accuracy or completeness and shall not be held liable for damages arising out of any person's reliance upon this information. This information is neither a recommendation, an offer to sell nor solicitation of an offer to purchase any investment products. The information is subject to change without notice.