The Stock Exchange of Hong Kong Limited (the Stock Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx) has reduced the fees for listing derivative warrants launched on or after 2 April 2002.

The Stock Exchange has received the Securities and Futures Commission's approval to reduce the fees for listing derivative warrants as set out below:

The new fee (of 25 per cent reduction) will apply to derivative warrant issues launched on or after 2 April 2002 but on or before 31 December 2002. The reduced fee (of 50 per cent reduction) applies where an issuer had previously launched a warrant over that particular security, index, currency or other asset at any time during the period from 21 January 2002 up to the date of launch of the warrant issue. The fee for all derivative warrant issues launched before 2 April 2002 will remain HK$80,000.

Appendix 8 of the Main Board Listing Rules will be amended with effect from 2 April 2002 to reflect the above. The amended rules will be available on the website of HKEx (http://www.hkex.com.hk) from 2 April 2002 onwards.