Structured Products Exclusive Placement

Capital Protected Products

Non-Capital Protected Products

Capital Protected Products

Product Name	Currency Choice	Tenor Choice	Product Risk Level*	Benefits	Indicative pricing on 10 Aug 2007
Currency Linked IV	AUD, CAD, EUR, GBP, NZD	3 months - 12 months	1	Potentially higher than time deposit return Best if chosen exchange rate stays within a range during the tenor	3 month NZD CPI deposit Maximum return 12.6%p.a. (For reference only, a 3-month NZD time deposit interest rate is 6.58%p.a.)
Currency Linked III	AUD, CAD, EUR, GBP, NZD, USD	6 months - 14 months	1	Potentially higher than time deposit return For customers with a directional view on a particular exchange rate	1 year NZD CPI deposit maximum return 9.27% minimum return 6.58% (For reference only, a 1-year NZD time deposit interest rate is 6.84%p.a.)
Capped and Floored Inverse Floater	HKD, USD	3 years, 5 years	1	High fixed interest rate for the first year Thereafter, minimum return plus potential upside Half-yearly interest payments Best if HKD 6 month HIBOR/USD 6 month LIBOR is stable or decreases	3 year USD CPI deposit First year interest 3.8%p.a. Thereafter minimum 3.13%p.a., maximum 4.93%p.a. (For reference only, a 3-year USD time deposit interest rate is 3.63%p.a.)
Callable Range Accrual	HKD, USD	3 years	1	High fixed interest for the first year Thereafter high accrual rate Quarterly interest payments Best if HKD 6 month HIBOR/USD 6 month LIBOR stays within step up ranges	3 year USD CPI deposit First year interest 4.68% p.a. Total maximum return 14.04% (For reference only, a 3-year USD time deposit interest rate is 3.63%p.a.)
Callable Fixed Deposit	HKD, USD	2 years	1	Lock in attractive fixed interest at any time during the deposit period Quarterly regular interest income if the SID is not early redeemed or when the Bank does not exercises the option to uplift the deposit	2 year USD CPI deposit Fixed interest 3.82%p.a. (For reference only, a 2-year USD time deposit interest rate is 3.61%p.a.)
Callable Interest Rate Movement	USD	1 year	1	High fixed interest rate for the first quarter High potential return based on the quarterly movement of the USD 3-month LIBOR	1 year USD CPI deposit maximum 8.00% p.a. minimum 2.75% p.a. (For reference only, a 1-year USD time deposit interest rate is 2.47%p.a.)
Interest Rate Linked AutoCallable Deposit	USD	2 years	1	High potential interest return if LIBOR at or below Barrier on any fixing date Quarterly autocall feature potentially shortens the deposit period.	2 years USD CPI deposit potential interest return 8% p.a. Barrier 3.69% p.a. (For reference only, a 2-year USD time deposit interest rate is 3.61%p.a.)

Non-Capital Protected Products

Product Name	Currency Choice	Tenor Choice	Product Risk Level*	Benefits	Indicative Pricing on 10 Aug 2007
Dual Currency Deposit	AUD EUR GBP JPY NZD	1 month	2	Higher than time deposit interest rate	1 month NZD deposit Interest rate 12.96%p.a. (For reference only, a 1-month NZD time deposit interest rate is 6.47%p.a.)

* Product Risk Level:

Low (1) - The price volatility of the product is low, and the product is normally 100% capital protected upon maturity (for products with scheduled maturity). Customers may adopt a passive strategy on the investment. This product may be suitable for investors who are happy to accept low level of investment risk.
Low to Medium (2) - The price volatility of the product is low to medium. Some market monitoring may be required to control relevant risks of the product. This product may be suitable for investors who are happy to accept low-to-medium level of investment risk.

Risk disclosure:

The above deposits are not the same as nor should they be treated as a substitute for normal fixed time deposits.
The return in relation to a deposit will depend upon market conditions prevailing at the relevant fixing time(s) during or in respect of the relevant deposit period. The level of the underlying asset may go up or down during such period and this will affect the return. The return may be less than would have been payable on a normal time deposit for the same period.
You must be prepared to risk the interest that might otherwise have been earned on money invested as a deposit.
If the deposit is not in your home currency, and you choose to convert it back to your home currency upon maturity, you may make a gain or loss due to exchange rate fluctuations.
You should consider whether the products are suitable based on your risk appetite, investment experience and objectives. If you have any concerns about the products you should consult your professional advisers.