Exchange Fund Bills Tender Results

Tender date                 :   16 November 2004

Paper on offer              :   EF Bills

Issue number                :   Q446

Issue date                  :   17 November 2004

Maturity date               :   16 February 2005

Amount applied              :   HK$12,980 MN

Amount allotted             :   HK$2,426 MN

Average yield accepted      :   -0.01 PCT

Highest yield accepted      :   0.00 PCT

Pro rata ratio              :   About 11 PCT

Average tender yield        :   0.01 PCT

* * * * * * * * * *

Tender date                 :   16 November 2004

Paper on offer              :   EF Bills

Issue number                :   Y496

Issue date                  :   17 November 2004

Maturity date               :   16 November 2005

Amount applied              :   HK$9,270 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.58 PCT

Highest yield accepted      :   0.59 PCT

Pro rata ratio              :   About 85 PCT

Average tender yield        :   0.65 PCT

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Hong Kong Monetary Authority
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Tenders to be held in the week beginning - 22 Nov 04 :-

Tender date                 :   23 November 2004

Paper on offer              :   EF Bills

Issue number                :   Q447

Issue date                  :   24 November 2004

Maturity date               :   23 February 2005

Tenor                       :   91 Days

Amount on offer             :   HK$2,725 MN

* * * * * * * * * * *

Tender date                 :   23 November 2004

Paper on offer              :   EF Bills

Issue number                :   H478

Issue date                  :   24 November 2004

Maturity date               :   25 May 2005

Tenor                       :   182 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, November 16, 2004
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