TRACK  RECORD  OF  HONG  KONG  HSI  MARKET  ALERTS
 
                                  Second   Quarter   2000           updated July 1 2000
 
   Buy     Index    Sell     Index     Points     % Gain     Points        % Gain   Cumulat.
   Date    Value    Date     Value     Gained     for        Gained        for        Gain %
                                       for        Buying     for           Selling
                                       Buying                Selling
 
                 Bf last quarter :     10560       64.00                               64.00
 
 
                   Mar 28   18250                              1550                    64.00
                                                                            8.49       72.49
  Apr 7    16700   Apr 12   16690        -10       -0.06       1390                    72.43
                                                                            7.76       80.19
  Apr 18   15300   Apr 26   15430        130        0.85         35                    81.04
                                                                            0.84       81.88
  Apr 28   15395   May 4    15385        -10       -0.06         85                    81.82
                                                                            0.55       82.37
  May 5    15300   May 8    15505        205        1.34       1045                    83.71
                                                                            6.74       90.45
  May 12   14460   May 17   15100        640        4.43       1380                    94.88
                                                                            9.14      104.02
  May 29   13720   June 8   15930       2210       16.11        -95                   120.12
                                                                           -0.60      119.53
  June 9   16025   June 12  16110         85        0.53        253                   120.06
                                                                            1.57      121.63
  June 14  15857   June 20  16398        541        3.41        508                   125.04
                                                                            3.10      128.14
  June 26  15890
 
 
                          Totals       14351       90.54       6151        37.60      128.14
 
 
                 Total Index Points Gained This Quarter :      9942 Points
                 Total % Gained This Quarter :                   64 %
 
                 Cumulative Index Points Gained This Year     20502 Points
                 Total % Gained This Year :                     128 %
 
                 Performance of last transaction when marked to market:
 
                 Total Index Points Gained :                    265 Points
                 Total % Gained :                               1.7 %