Exchange Fund Bills Tender Results

Tender date                 :   21 June 2004

Paper on offer              :   EF Bills

Issue number                :   Q425

Issue date                  :   23 June 2004

Maturity date               :   22 September 2004

Amount applied              :   HK$13,271 MN

Amount allotted             :   HK$2,771 MN

Average yield accepted      :   0.37 PCT

Highest yield accepted      :   0.38 PCT

Pro rata ratio              :   ABOUT 58 PCT

Average tender yield        :   0.40 PCT

* * * * * * * * * * *

Tender date                 :   21 June 2004

Paper on offer              :   EF Bills

Issue number                :   H467

Issue date                  :   23 June 2004

Maturity date               :   22 December 2004

Amount applied              :   HK$5,600 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.79 PCT

Highest yield accepted      :   0.81 PCT

Pro rata ratio              :   ABOUT 33 PCT

Average tender yield        :   0.84 PCT

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Hong Kong Monetary Authority
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Tender to be held in the week beginning - 28 June 04 :-

Tender date                 :   29 June 2004

Paper on offer              :   EF Bills

Issue number                :   Q426

Issue date                  :   30 June 2004

Maturity date               :   30 September 2004

Tenor                       :   92 Days

Amount on offer             :   HK$2,220 MN

* * * * * * * * * * *

Tender date                 :   29 June 2004

Paper on offer              :   EF Bills

Issue number                :   Y491

Issue date                  :   30 June 2004

Maturity date               :   29 June 2005

Tenor                       :   364 Days

Amount on offer             :   HK$1,300 MN

End/Monday, June 21, 2004
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