Exchange Fund Bills Tender Results

Tender date                 :   6 July 2004

Paper on offer              :   EF Bills

Issue number                :   Q427

Issue date                  :   7 July 2004

Maturity date               :   6 October 2004

Amount applied              :   HK$11,570 MN

Amount allotted             :   HK$2,118 MN

Average yield accepted      :   0.26 PCT

Highest yield accepted      :   0.27 PCT

Pro rata ratio              :   ABOUT 53 PCT

Average tender yield        :   0.29 PCT

* * * * * * * * * * *

Tender date                 :   6 July 2004

Paper on offer              :   EF Bills

Issue number                :   H468

Issue date                  :   7 July 2004

Maturity date               :   5 January 2005

Amount applied              :   HK$7,300 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.60 PCT

Highest yield accepted      :   0.61 PCT

Pro rata ratio              :   ABOUT 15 PCT

Average tender yield        :   0.62 PCT

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Hong Kong Monetary Authority
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Tender to be held in the week beginning - 12 July 04 :-

Tender date                 :   13 July 2004

Paper on offer              :   EF Bills

Issue number                :   Q428

Issue date                  :   14 July 2004

Maturity date               :   13 October 2004

Tenor                       :   91 Days

Amount on offer             :   HK$2,226 MN

End/Tuesday, July 6, 2004
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