Exchange Fund Bills Tender Results

Tender date                 :   18 November 2003

Paper on offer              :   EF Bills

Issue number                :   Q484

Issue date                  :   19 November 2003

Maturity date               :   19 December 2003

Amount applied              :   HK$24,000 MN

Amount allotted             :   HK$600 MN

Average yield accepted      :   -0.01 PCT

Highest yield accepted      :   -0.01 PCT

Pro rata ratio              :   ABOUT 2 PCT

Average tender yield        :   -0.01 PCT

* * * * * * * * * * * * *

Tender date                 :   18 November 2003

Paper on offer              :   EF Bills

Issue number                :   Q346

Issue date                  :   19 November 2003

Maturity date               :   18 February 2004

Amount applied              :   HK$13,450 MN

Amount allotted             :   HK$2,825 MN

Average yield accepted      :   0.01 PCT

Highest yield accepted      :   0.01 PCT

Pro rata ratio              :   ABOUT 52 PCT

Average tender yield        :   0.02 PCT

* * * * * * * * * * * * *

Tender date                 :   18 November 2003

Paper on offer              :   EF Bills

Issue number                :   Y396

Issue date                  :   19 November 2003

Maturity date               :   17 November 2004

Amount applied              :   HK$6,420 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.52 PCT

Highest yield accepted      :   0.52 PCT

Pro rata ratio              :   About 76 PCT

Average tender yield        :   0.56 PCT

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Hong Kong Monetary Authority
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Tender to be held in the week beginning - 24 Nov 03 :-

Tender date                 :   25 November 2003

Paper on offer              :   EF Bills

Issue number                :   Q347

Issue date                  :   26 November 2003

Maturity date               :   25 February 2004

Tenor                       :   91 Days

Amount on offer             :   HK$3,273 MN

* * * * * * * * * * *

Tender date                 :   25 November 2003

Paper on offer              :   EF Bills

Issue number                :   H378

Issue date                  :   26 November 2003

Maturity date               :   27 May 2004

Tenor                       :   182 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, November 18, 2003
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