Exchange Fund Bills Tender Results

Tender date                 :   20 July 2004

Paper on offer              :   EF Bills

Issue number                :   Q429

Issue date                  :   21 July 2004

Maturity date               :   20 October 2004

Amount applied              :   HK$12,235 MN

Amount allotted             :   HK$2,189 MN

Average yield accepted      :   0.17 PCT

Highest yield accepted      :   0.18 PCT

Pro rata ratio              :   ABOUT 69 PCT

Average tender yield        :   0.20 PCT

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

Tender date                 :   20 July 2004

Paper on offer              :   EF Bills

Issue number                :   H469

Issue date                  :   21 July 2004

Maturity date               :   19 January 2005

Amount applied              :   HK$8,550 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.54 PCT

Highest yield accepted      :   0.55 PCT

Pro rata ratio              :   ABOUT 19 PCT

Average tender yield        :   0.58 PCT

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Hong Kong Monetary Authority
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Tender to be held in the week beginning - 26 July 04 :-

Tender date                 :   27 July 2004

Paper on offer              :   EF Bills

Issue number                :   Q430

Issue date                  :   28 July 2004

Maturity date               :   27 October 2004

Tenor                       :   91 Days

Amount on offer             :   HK$3,572 MN

* * * * * * * * * * *

Tender date                 :   27 July 2004

Paper on offer              :   EF Bills

Issue number                :   Y492

Issue date                  :   28 July 2004

Maturity date               :   27 July 2005

Tenor                       :   364 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, July 20, 2004
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