TRACK  RECORD  OF  HANG SENG INDEX   MARKET  ALERTS
 
                                     For Year  2004        updated Jan 8, 2005
 
   Buy       Index     Sell     Index   Points      % Gain     Points  % Gain   Cumulat.   Cumulative
   Date      Value     Date     Value   Gained      for        Gained  for       Gain % Investment Gain
                                        for         Buying     for     Selling
                                        Buying                 Selling                   Investment sum
                                                                                         = US$10,000
                                                                                              10000
 Dec 31,03    12636   Jan 13   13412       776        6.14       159                         10,614                                                                         6.141
                                                                          1.19     1.19      10,740                                                                         1.186
  Jan 19      13253   Jan 28   13654       401        3.03       378               4.21      11,065                                                                         3.026
                                                                          2.77     6.98      11,371                                                                         2.768
  Jan 29      13276   Feb 2    13230       -46       -0.35       255               6.63      11,332                                                                         -0.35
                                                                          1.93     8.56      11,550                                                                         1.927
  Feb 3       12975   Feb 4    13038        63        0.49       -10               9.05      11,606                                                                         0.486
                                                                         -0.08     8.97      11,597                                                                         -0.08
  Feb 5       13048   Feb 10   13554       506        3.88       -16              12.85      12,047                                                                         3.878
                                                                         -0.12    12.73      12,033                                                                         -0.12
  Feb 11      13570   Feb 11   13560       -10       -0.07       -44              12.66      12,024                                                                         -0.07
                                                                         -0.32    12.33      11,985                                                                         -0.32
  Feb 13      13604   Feb 18   13926       322        2.37       344              14.70      12,269                                                                         2.367
                                                                          2.47    17.17      12,572                                                                          2.47
  Feb 26      13582   Mar 1    13815       233        1.72       461              18.88      12,787                                                                         1.716
                                                                          3.34    22.22      13,214                                                                         3.337
  Mar 5       13354   Mar 8    13519       165        1.24       770              23.46      13,377                                                                         1.236
                                                                          5.70    29.15      14,139                                                                         5.696
  Mar 12      12749   Mar 15   12802        53        0.42        49              29.57      14,198                                                                         0.416
                                                                          0.38    29.95      14,253                                                                         0.383
  Mar 16      12753   Mar 18   12980       227        1.78       435              31.73      14,506                                                                          1.78
                                                                          3.35    35.08      14,992                                                                         3.351
  Mar 23      12545   Mar 25   12603        58        0.46       146              35.54      15,062                                                                         0.462
                                                                          1.16    36.70      15,236                                                                         1.158
  Mar 29      12457   Mar 31   12601       144        1.16         5              37.86      15,412                                                                         1.156
                                                                          0.04    37.90      15,418                                                                          0.04
  Apr 1       12596   Apr 7    12949       353        2.80       -16              40.70      15,851                                                                         2.802
                                                                         -0.12    40.58      15,831                                                                         -0.12
  Apr 13      12965   Apr 14   12913       -52       -0.40       484              40.18      15,767                                                                          -0.4
                                                                          3.75    43.92      16,358                                                                         3.748
  Apr 19      12429   Apr 20   12399       -30       -0.24       134              43.68      16,319                                                                         -0.24
                                                                          1.08    44.76      16,495                                                                         1.081
  Apr 23      12265   Apr 26   12305        40        0.33       160              45.09      16,549                                                                         0.326
                                                                          1.30    46.39      16,764                                                                           1.3
  Apr 27      12145   Apr 28   12170        25        0.21       370              46.60      16,799                                                                         0.206
                                                                          3.04    49.64      17,310                                                                          3.04
  Apr 30      11800   May 6    11884        84        0.71       523              50.35      17,433                                                                         0.712
                                                                          4.40    54.75      18,200                                                                         4.401
  May 11      11361   May 12   11414        53        0.47       396              55.22      18,285                                                                         0.467
                                                                          3.47    58.68      18,919                                                                         3.469
  May 18      11018   Jun 3    12195      1177       10.68       228              69.37      20,940                                                                         10.68
                                                                          1.87    71.24      21,332                                                                          1.87
  Jun 4       11967   Jun 8    12350       383        3.20       490              74.44      22,014                                                                           3.2
                                                                          3.97    78.41      22,888                                                                         3.968
  Jun 21      11860   Jun 29   12167       307        2.59       -29              80.99      23,480                                                                         2.589
                                                                         -0.24    80.76      23,424                                                                         -0.24
  Jun 30      12196   Jul 8    12340       144        1.18       231              81.94      23,701                                                                         1.181
                                                                          1.87    83.81      24,145                                                                         1.872
  Jul 16      12109   Jul 22   12310       201        1.66       116              85.47      24,545                                                                          1.66
                                                                          0.94    86.41      24,777                                                                         0.942
  Aug 2       12194   Aug 3    12271        77        0.63        83              87.04      24,933                                                                         0.631
                                                                          0.68    87.72      25,102                                                                         0.676
  Aug 4       12188   Aug 6    12423       235        1.93        79              89.65      25,586                                                                         1.928
                                                                          0.64    90.28      25,749                                                                         0.636
  Aug 12      12344   Aug 13   12279       -65       -0.53        64              89.76      25,613                                                                         -0.53
                                                                          0.52    90.28      25,746                                                                         0.521
  Aug 17      12215   Sep 2    12995       780        6.39         5              96.66      27,391                                                                         6.386
                                                                          0.04    96.70      27,401                                                                         0.038
  Sep 6       12990   Sep 14   13141       151        1.16        18              97.86      27,720                                                                         1.162
                                                                          0.14    98.00      27,758                                                                         0.137
  Sep 16      13123   Sep 22   13263       140        1.07       278              99.07      28,054                                                                         1.067
                                                                          2.10   101.16      28,642                                                                         2.096
  Sep 30      12985   Oct 6    13402       417        3.21       614             104.37      29,562                                                                         3.211
                                                                          4.58   108.96      30,916                                                                         4.581
  Oct 25      12788   Nov 15   13909      1121        8.77       220             117.72      33,626                                                                         8.766
                                                                          1.58   119.30      34,158                                                                         1.582
  Nov 22      13689   Nov 24   14020       331        2.42        20             121.72      34,984                                                                         2.418
                                                                          0.14   121.86      35,034                                                                         0.143
  Nov 29      14000   Dec 2    14300       300        2.14       427             124.01      35,784                                                                         2.143
                                                                          2.99   126.99      36,853                                                                         2.986
  Dec 13      13873   Dec 23   14205       332        2.39        12             129.39      37,735                                                                         2.393
                                                                          0.08   129.47      37,767                                                                         0.084
  Dec 28      14193   Dec 30   14268        75        0.53                       130.00      37,966                                                                         0.528
 
                                                                                                                                                                                0
 
 
 
                              Totals      3163       24.40      3534     26.50    50.90
 
 
                    Total Index Points Gained This Year :       6697 Points
                    Total % Gained This Year :                  50.9 %
 
                    Cumulative Index Points Gained This Yr      6697 Points
                    Total % Gained This Year :                    51 %
 
 
 
 
                                                                                             37,966
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                            0.67   146.53      44,669                                                                          0.67
  Feb 24   13946   Feb 28     14100       154        1.10       412             147.64      45,162                                                                         1.104
                                                                         2.92   150.56      46,482                                                                         2.922
  Mar 8    13688   Mar 9      13819       131        0.96        79             151.51      46,927                                                                         0.957
                                                                         0.57   152.09      47,195                                                                         0.572
  Mar 10   13740   Mar 22     13790        50        0.36       236             152.45      47,367                                                                         0.364
                                                                         1.71   154.16      48,178                                                                         1.711
  Mar 24   13554   Mar 29     13520       -34       -0.25       100             153.91      48,057                                                                         -0.25
                                                                         0.74   154.65      48,412                                                                          0.74
  Mar 30   13420
 
 
 
 
 
 
                             Totals      3163       24.40      3534     26.50    50.90
 
 
                 Total Index Points Gained This Year :         6697 Points
                 Total % Gained This Year :                    50.9 %
 
                 Cumulative Index Points Gained This Yr :      6697 Points
                 Total % Gained This Year :                      51 %
 
                 Performance of last transaction when marked to market:
 
                 Total Index Points Gained :                    255 Points
                 Total % Gained :                               1.9 %                       49,332                                                                           1.9