Listing Rules Amendments to the GEM Listing Rules

Note to subscribers for the amendments to
the rules governing the listing of securities on the Growth Enterprise Market
(the "GEM Listing Rules")

Update No. 25

April 2008

Dear Sirs,

Closing auction session

We enclose reprinted pages of the GEM Listing Rules. The reprinted pages incorporate amendments to align the operational hours of the Electronic Disclosure regime with the implementation of the closing auction session.

We also enclose the filing instructions.

Amendments have been made to rule 16.18(3)(a) in order to align the operational hours of the Electronic Disclosure regime for publication of the majority of announcements with the new market trading hours upon implementation of the closing auction session on 26 May 2008.

Coming into effect

The amendments will become effective on 26 May 2008.

Please click HERE to see the amendments

Yours faithfully
For and on behalf of
The Stock Exchange of Hong Kong Limited

Richard Williams
Head of Listing