Exchange Fund Bills Tender Results

Tender date                 :   24 May 2005

Paper on offer              :   EF Bills

Issue number                :   Q521

Issue date                  :   25 May 2005

Maturity date               :   24 August 2005

Amount applied              :   HK$13,096 MN

Amount allotted             :   HK$2,787 MN

Average yield accepted      :   2.74 PCT

Highest yield accepted      :   2.76 PCT

Pro rata ratio              :   About 36 PCT

Average tender yield        :   2.77 PCT

* * * * * * * * * *

Tender date                 :   24 May 2005

Paper on offer              :   EF Bills

Issue number                :   H565

Issue date                  :   25 May 2005

Maturity date               :   23 November 2005

Amount applied              :   HK$4,500 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   2.75 PCT

Highest yield accepted      :   2.77 PCT

Pro rata ratio              :   About 14 PCT

Average tender yield        :   2.77 PCT

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Hong Kong Monetary Authority
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Tenders to be held in the week beginning - 30 May 05 :-

Tender date                 :   31 May 2005

Paper on offer              :   EF Bills

Issue number                :   Q522

Issue date                  :   1 June 2005

Maturity date               :   31 August 2005

Tenor                       :   91 Days

Amount on offer             :   HK$3,001 MN

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

Tender date                 :   31 May 2005

Paper on offer              :   EF Bills

Issue number                :   Y590

Issue date                  :   1 June 2005

Maturity date               :   1 June 2006

Tenor                       :   365 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, May 24, 2005
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