TRACK RECORD OF HONG KONG HSI MARKET ALERTS 1st & 2nd Quarters 2001 updated June 30, 2001 We track the HSI Index Futures Index which more accurately reflects market performance 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 Bf last quarter : 0 0.00 0.00 Dec 28 14830 Jan 2 15019 189 1.27 379 10,127 1.274 2.52 3.80 10,383 2.523 Jan 3 14640 Jan 5 15502 862 5.89 101 9.69 10,994 5.888 0.65 10.34 11,066 0.652 Jan 8 15401 Jan 9 15535 134 0.87 320 11.21 11,162 0.87 2.06 13.27 11,392 2.06 Jan 16 15215 Jan 17 15243 28 0.18 -27 13.45 11,413 0.184 -0.18 13.27 11,393 -0.18 Jan 17 15270 Jan 22 16050 780 5.11 -110 18.38 11,975 5.108 -0.69 17.70 11,893 -0.69 Feb 1 16160 Feb 2 16190 30 0.19 47 17.88 11,915 0.186 0.29 18.17 11,950 0.29 Feb 2 16143 Feb 2 16171 28 0.17 258 18.35 11,970 0.173 1.60 19.94 12,161 1.595 Feb 9 15913 Feb 15 15890 -23 -0.14 389 19.80 12,144 -0.14 2.45 22.25 12,441 2.448 Feb 20 15501 Feb 21 15390 -111 -0.72 290 21.53 12,352 -0.72 1.88 23.41 12,585 1.884 Feb 23 15100 Feb 27 14899 -201 -1.33 949 22.08 12,417 -1.33 6.37 28.45 13,208 6.37 Mar 5 13950 Mar 7 14285 335 2.40 265 30.85 13,525 2.401 1.86 32.71 13,776 1.855 Mar 8 14020 Mar 9 14163 143 1.02 849 33.73 13,917 1.02 5.99 39.72 14,751 5.994 Mar 12 13314 Mar 14 13377 63 0.47 127 40.20 14,821 0.473 0.95 41.15 14,961 0.949 Mar 15 13250 Mar 20 13410 160 1.21 750 42.35 15,142 1.208 5.59 47.95 15,989 5.593 Mar 23 12660 Mar 27 12890 230 1.82 225 49.76 16,279 1.817 1.75 51.51 16,563 1.746 Mar 29 12665 Apr 2 12750 85 0.67 660 52.18 16,675 0.671 5.18 57.36 17,538 5.176 Apr 4 12090 Apr 6 12592 502 4.15 392 61.51 18,266 4.152 3.11 64.62 18,835 3.113 Apr 10 12200 Apr 17 12803 603 4.94 -132 69.56 19,766 4.943 -1.03 68.53 19,562 -1.03 Apr 18 12935 Apr 20 13495 560 4.33 245 72.86 20,409 4.329 1.82 74.68 20,779 1.815 Apr 24 13250 Apr 26 13250 0 0.00 55 74.68 20,779 0 0.42 75.09 20,865 0.415 Apr 27 13195 May 2 13730 535 4.05 278 79.15 21,711 4.055 2.02 81.17 22,151 2.025 May 7 13452 May 9 13555 103 0.77 255 81.94 22,321 0.766 1.88 83.82 22,741 1.881 May 15 13300 May 17 13645 345 2.59 45 86.41 23,330 2.594 0.33 86.74 23,407 0.33 May 21 13600 May 22 13891 291 2.14 168 88.88 23,908 2.14 1.21 90.09 24,197 1.209 May 24 13723 May 25 13858 135 0.98 594 91.08 24,435 0.984 4.29 95.36 25,483 4.286 June 5 13264 June 6 13612 348 2.62 -74 97.99 26,151 2.624 -0.54 97.44 26,009 -0.54 June 7 13686 June 8 13920 234 1.71 932 99.15 26,454 1.71 6.70 105.85 28,225 6.695 June 15 12988 June 18 12980 -8 -0.06 -60 105.79 28,208 -0.06 -0.46 105.32 28,077 -0.46 June 19 13040 June 20 13042 2 0.02 -7 105.34 28,082 0.015 -0.05 105.28 28,067 -0.05 June 21 13049 June 22 13224 175 1.34 254 106.63 28,443 1.341 1.92 108.55 28,989 1.921 June 27 12970 June 29 13045 75 0.58 109.13 29,157 0.578 Totals 6632 49.25 8417 59.87 109.13 Total Index Points Gained This Quarter : 15049 Points Total % Gained This Quarter : 109 % Cumulative Index Points Gained This Year 15049 Points Total % Gained This Year : 109 % Performance of last transaction when marked to market: Total Index Points Gained : 4 Points Total % Gained : 0.0 % 29,166 0.031