Tender Result of the reopening of 5-Year Exchange Fund Notes :- Tender date : 22 April 2004 Paper on offer : EF Notes Issue number : 5706 Issue date (reopen) : 23 April 2004 Maturity date : 18 June 2007 Coupon : 4.76% Competitive Tender Results Amount applied : HK$4,671.25 MN Amount allotted : HK$1,195.60 MN Average price accepted (yield) : 107.40 (2.33 PCT) Lowest price accepted (yield) : 107.35 (2.34 PCT) Pro rata ratio : About 66 PCT Average tender price (yield) : 107.28 (2.37 PCT) Non-competitive Tender Results Amount applied : HK$4.40 MN Amount allotted : HK$4.40 MN Allotment price (yield) : 107.40 (2.33%) Pro rata ratio : N.A. End/Thursday, 22 April, 2004 NNNN