This product is a type of equity linked investments that offer competitive potential returns with a call feature. It may accrue a distribution amount based on the daily performance of the reference share in each distribution period.

Please refer to the following documents for details:

1. Factsheet

2. Product Booklet

3. Information Memorandum

4. Indicative Term Sheet
Offer until 26 Apr 2007
(may change without prior notice)

Please do not hesitate to call your Account Executive or our Products Development Department:

Mr. Tony Liang: (852) 2166-3319, e-mail: tony.liang@cpy.com.hk
Mr. Landal Kam: (852) 2826-0729, e-mail: landal.kam@cpy.com.hk

Note: KBC Callable Range Accrual ELIs are not listed on any stock exchange and not capital protected. Investors may receive the worst performing shares or their cash equivalent upon expiry, the value of which may be substantially less than the original amount invested. It is possible that no distribution amount may be payable throughout the investment period.

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