HSBC PRIVATE EQUITY LIMITED

Pursuant to section 175 of the Companies Act 1985, HSBC Private Equity Limited (“the Company”) hereby gives notice that, by written Resolution of the Company dated 27 January 2003, pursuant to section 173 of the Companies Act 1985, the Company has approved a payment out of capital for the purpose of purchasing, in aggregate, 24,850,000 of its own Ordinary Shares of £1 each. The amount of the permissible capital payment for the shares in question is £24,850,000. The Statutory Declaration of the Directors and the Auditors’ report, required by section 173 of the Companies Act 1985, are available for inspection at the Company’s registered office, Vintners Place, 68 Upper Thames Street, London EC4A 3BJ. Any Creditor of the Company may, at any time up to and including 3 March 2003, apply to the Court, under section 176 of the Companies Act 1985, for an Order prohibiting the payment.