HKFE Announces Revised Margins For Esprit Futures Contracts Related To Change Of Contract Multiplier

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 Friday, 2 March 2007, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contracts will be as outlined in the table below. The adjustments are based on the clearing company's normal procedures and standard margining methodology.

Please see the 15 February 2007 HKEx news release for details of the change of the trading and clearing of Esprit Futures.

For the current margins, please refer to the margin information on the HKEx website at the following link (http://www.hkex.com.hk/tradinfo/futuresmargin/FOmargin.htm).

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

Esprit Holdings Limited Futures (ESP-Multiplier = 100)	Full Rate	888	/lot	710	/lot
Esprit Holdings Limited Futures (ESP-Multiplier = 100)	Spread Rate	266	/spread	213	/spread

Esprit Holdings Limited Futures (ESA-Multiplier = 500)	Full Rate	4,440	/lot	3,552	/lot
Esprit Holdings Limited Futures (ESA-Multiplier = 500)	Spread Rate	1,332	/spread	1,066	/spread

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