Bermuda Stock Exchange

AGH 4.65

0.00 Vol 0 BAS 2

0.00 Vol 0 BFM 19.25

0.00 Vol 0 BPH 7.5

0.00 Vol 0 DEVON 5.3

0.00 Vol 0 HSBC 6

0.00 Vol 0 LOM 6.25

0.00 Vol 0 NTB 36.5

0.00 Vol 0 POLAR 7.25

0.00 Vol 0 SGR 1.8

0.00 Vol 0 SOMS 0

0.00 Vol 0 WHHL 7.5

0.00 Vol 0 WWW 31

0.00 Vol 0

Market Closed:

ISIN: XS0220729783

Equity Covered European Call.

Certificates in respect of shares in Housing Development Finance Corp - Series No. 25

Issue Date: 26 May 2005

Expiration Date: 20 May 2015

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CLSA Financial Products Ltd - Housing Development Finance Corp - RegS