Hong Kong Exchanges and Clearing Limited (HKEx) has announced the following holiday risk management arrangements.

HSI, MHI, HHI and HB3 Markets

There will be mandatory intra-day variation adjustment calls in the Hang Seng Index (HSI), Mini-Hang Seng Index (MHI), H-shares Index (HHI) and Three-month HIBOR (HB3) markets on Tuesday, 25 September 2007 and Friday, 28 September 2007 based on open positions in the markets at around 3:00 pm on 25 September and 28 September respectively.

Stock Options Market

There will be special intra-day margin calls on Tuesday, 25 September 2007 and Friday, 28 September 2007 in respect of all open positions in the stock options market at around 3:00 pm on 25 September and 28 September respectively.

The above arrangements are based on the clearing houses’ normal procedures.

Exchange Participants have been advised to give advanced notice to their clients regarding the arrangements where appropriate.