Exchange Fund Bills Tender Results

Tender date                 :   7 December 2004

Paper on offer              :   EF Bills

Issue number                :   Q449

Issue date                  :   8 December 2004

Maturity date               :   9 March 2005

Amount applied              :   HK$11,530 MN

Amount allotted             :   HK$2,417 MN

Average yield accepted      :   0.05 PCT

Highest yield accepted      :   0.06 PCT

Pro rata ratio              :   About 16 PCT

Average tender yield        :   0.07 PCT

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

Tender date                 :   7 December 2004

Paper on offer              :   EF Bills

Issue number                :   H479

Issue date                  :   8 December 2004

Maturity date               :   8 June 2005

Amount applied              :   HK$6,680 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.25 PCT

Highest yield accepted      :   0.26 PCT

Pro rata ratio              :   About 50 PCT

Average tender yield        :   0.27 PCT

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Hong Kong Monetary Authority
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Tenders to be held in the week beginning - 13 Dec 04 :-

Tender date                 :   14 December 2004

Paper on offer              :   EF Bills

Issue number                :   Q450

Issue date                  :   15 December 2004

Maturity date               :   16 March 2005

Tenor                       :   91 Days

Amount on offer             :   HK$2,707 MN

* * * * * * * * * * *

Tender date                 :   14 December 2004

Paper on offer              :   EF Bills

Issue number                :   Y497

Issue date                  :   15 December 2004

Maturity date               :   14 December 2005

Tenor                       :   364 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, December 7, 2004
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