HKFE Announces Revised Margins For China Netcom Group Futures

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), has announced that with effect from the commencement of trading on Wednesday, 8 October 2008, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contract will be as outlined in the table below.

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The minimum margins are being adjusted due to the capital adjustment resulting from the merger of China Netcom Group Corporation (Hong Kong) Limited (CNM) and China Unicom Limited to be made to CNM Futures Contracts which exist after the market close on 6 October 2008. The adjustments are based on the clearing company's normal procedures and standard margining methodology.

Futures Contract - Margin Rate - Initial Margin (HK$) - Maintenance Margin (HK$)

China Netcom Group Corporation (Hong Kong) Ltd (CHA: Multiplier = 754)

Full Rate - 6,884/lot - 5,507/lot

Spread Rate - 2,065/spread - 1,652/spread

HKFE emphasises that the above are minimum rates and Exchange Participants should set their margin requirements according to their clients' individual circumstances. -- www.hkex.com.hk