TNAG-1650-FCO40-2297-Hongkong-and-Shanghai-Banking-Corporation-(HSBC)-1987 — Page 35

CONFIDENTIAL

4.

HKSB SAY THAT THE CHAIRMAN OF MARINE MIDLANDTM, PETTY, TREAT THE BND AS HOSTALE ALTHOUGH THIS IS NOT YET CERTAIN. IN TALKS WITH HIM OVER THE LAST PAST YEAR HE HAS INDICATED PERSONAL OPPOSITION TO FULL ACQU-MS/#THON BY THE HKSB.

MAY

WILSON

YYYY

HMLNAN 5717

HONG KONG AGREEMENT: RESTRICTED

LIMITED

HD/HKD

HD/FED

RESEARCH DEPT.(FE)

DEP/HD PUSD

Economic Abus

ERD

PS

PS/LORD GLENARTHUR

PS/MR EGGAR

MR MCLAREN

MR GILLMORE

COPIES TO:

MR FIFOOT, LEGAL ADVISERS

AW LOGANIS, BANK ENGLAND CW KELLY nm TSA

2

CONFIDENTIAL