Exchange Fund Bills Tender Results

Tender date                 :   3 August 2004

Paper on offer              :   EF Bills

Issue number                :   Q431

Issue date                  :   4 August 2004

Maturity date               :   3 November 2004

Amount applied              :   HK$16,700 MN

Amount allotted             :   HK$3,275 MN

Average yield accepted      :   0.68 PCT

Highest yield accepted      :   0.69 PCT

Pro rata ratio              :   About 85 PCT

Average tender yield        :   0.71 PCT

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

Tender date                 :   3 August 2004

Paper on offer              :   EF Bills

Issue number                :   H470

Issue date                  :   4 August 2004

Maturity date               :   2 February 2005

Amount applied              :   HK$6,500 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   1.02 PCT

Highest yield accepted      :   1.02 PCT

Pro rata ratio              :   About 100 PCT

Average tender yield        :   1.05 PCT

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Hong Kong Monetary Authority
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Tender to be held in the week beginning - 9 August 04 :-

Tender date                 :   10 August 2004

Paper on offer              :   EF Bills

Issue number                :   Q432

Issue date                  :   11 August 2004

Maturity date               :   10 November 2004

Tenor                       :   91 Days

Amount on offer             :   HK$3,191 MN

End/Tuesday, August 3, 2004
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