31.2.6 Securities Deliver Against Payment Instruction

HSB-85652, 25-MAR-1998,

Hang Seng Bank, London, U.K.

# 765, Copper Arch,

Charles Avenue,

Hong Kong,

ZIP 7890-542-02.

Sub: Our Instruction to Deliver Securities Against Payment.

Kind Attention Ms. Cheng Wen Lee,

Custody Services Officer,

Securities Department.

Dear Sir/Madam,

Please arrange to deliver the securities against payment as per our instructions shown below:

Table 31-9 Header Details

Header	Details
Our Reference	000SES1980840007
Securities Identification	ISIN HK0043762191
-	/HKD/1, SWIRE Properties Ordinary Registered.
Trade Date	20-MAR-1998
Place of Trade	Honk Kong Stock Market
Delivery Date	28-MAR-1998
Securities Book Value	500,000.00 HKD
Instructing Party	ABC Investments
Quantity of Securities	50,000 Shares
Safekeeping Account (Delivered from)	106789
Securities Certificate Numbers	SSE 120011 – SSE 120060 – 50 x 100 Share Certificates.
Receiver of Securities	W. I. Carr, Hong Kong
Beneficiary of Securities	Eastern Securities, Hong Kong
Beneficiary’s Safekeeping Account (with Receiver of Securities)	987056
Securities Registration Details	Securities delivered are to be registered in favour of Eastern Securities, Hong Kong.
Securities Receipt Declaration Details	Share Certificates with numbers as shown above are to be delivered physically to the Receiver of Securities.
Account for Payment	9056-3428
Securities Deal Price	12 HKD
Securities Deal Amount	600,000.00 HKD
Other Charges/Fees	650 HKD
Securities Settlement Amount	599,350.00 HKD

Other Information:

Please confirm the delivery and receipt of payment for above securities to us, by mail, at the earliest and revert to us if the Securities have not been delivered in 1 weeks time after the scheduled delivery date. Please intimate us about your transaction charges if any, for the above instruction.

Please always quote Our Reference in all further correspondence regarding the above instruction.

Thanking you,

For Merrill Lynch,

New York, USA.