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16 May 2003

SFC Appoints Dual Filing Advisory Group

The SFC is pleased to announce the appointment of nine members to the SFC Dual Filing Advisory Group, which advises the SFC on the performance of its Dual Filing functions (Note 1). The SFC Dual Filing Advisory Group was established under section 8 of the Securities and Futures Ordinance. The SFC may seek advice from the Advisory Group on treatment of cases under the Dual Filing regime and the relevant regulatory provisions, as well as on related policy issues. Advice to be rendered by the Advisory Group will include views on any application that, after analysis and due enquiry made of the applicant, the SFC believes should be rejected, and the overall direction and other policy matters relating to operation of the Dual Filing regime. Membership of the Advisory Group comprises investors as well as market practitioners, including fund managers, corporate finance advisors, legal advisers and accountants. Each member will normally hold office for one year or otherwise at the discretion of the SFC. A full list of the Advisory Group members is provided in Note 2. An SFC spokesman said: "The SFC Dual Filing Advisory Group is a voluntary body which owes its success to the dedication and expertise of its members. The SFC is confident that the significant experience and expert knowledge of the Advisory Group members in the securities and financial markets will ensure the continuing success of the Advisory Group." Ends Notes : 1. Effective 1 April 2003, Dual Filing refers to the requirements of the Securities and Futures (Stock Market Listing) Rules under which listing applicants and listed companies have to file applications and disclosure materials with the SFC (via the Stock Exchange). As a result, the SFC can now exercise its statutory enforcement powers against persons issuing false or misleading corporate information. 2. Members of SFC Dual Filing Advisory Group Appointment for a term expiring on 31 March 2004 1. Mr Dennis Cassidy Director Anglo Chinese Corporate Finance Ltd 2. Ms Teresa Ko Partner Freshfields Bruckhaus Deringer 3. Mr W Gage McAfee Managing Director Asia Pacific Capital Group 4. Mr Mike Scales Corporation Secretary The Hongkong and Shanghai Banking Corporation Ltd 5. Mr Frank J. Slevin Managing Director, Head of Hong Kong Investment Banking Citigroup Global Markets Asia Ltd 6. Mr Carlson Tong Partner KPMG 7. Mr Peter P.W. Tse Executive Director & Chief Financial Officer CLP Holdings Ltd 8. Mr Tony Tsoi Chief Operating Officer Hong Kong Commercial Broadcasting Co Ltd 9. Mr V-Nee Yeh Chairman Hsin Chong Construction Group Ltd