Dear Customer,

Hang Seng e-Warrant Alert would like to provide you with the following warrant information for your reference:

Latest Commentaries
Please visit our Warrant Supermarket website:
Latest Commentaries will be updated at around 12:00 noon of every trading day.
New Warrants Listed on 26 Apr 2011
Stock Code Stock Name Underlying Stock
Nature Strike Price
11371 SG-CPIC @EC1110 02601 Call 34.180
11372 SGEVERG@EC1110B 03333 Call 5.880
* New warrants information excludes currency warrants.

Warrants To be Expired on 17 May 2011 *
Stock Code Stock Name Underlying Stock
Nature Strike Price
21852 BC-BYD @EP1105 01211 Put 68.000
25694 MB-CK(H)@EP1105 00001 Put 90.000
* Last Dealing will be at least three trading days before expiry date which is to be announced by issuers. 

Hang Seng Bank

The prices of securities (including warrants) fluctuate, sometimes dramatically. The price of a security may move up or down, and may become valueless. Warrants may expire worthless, resulting in a total loss of investors' investment. Investors should note that, at times, the issuer may be the only person quoting prices on the exchange for a warrant. It is as likely that losses will be incurred rather than profit made as a result of buying and selling securities. Investors should read the relevant listing documents and make their own risk assessment and seek independent professional advice where necessary with respect to any exposure to derivative warrants. Investors should refer to the relevant Risk Disclosure Statement before making any investment decision.

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