Exchange Fund Bills Tender Results

Tender date                 :   20 September 2005

Paper on offer              :   EF Bills

Issue number                :   Q538

Issue date                  :   21 September 2005

Maturity date               :   21 December 2005

Amount applied              :   HK$8,252 MN

Amount allotted             :   HK$3,276 MN

Average yield accepted      :   3.26 PCT

Highest yield accepted      :   3.28 PCT

Pro rata ratio              :   About 25 PCT

Average tender yield        :   3.29 PCT

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

Tender date                 :   20 September 2005

Paper on offer              :   EF Bills

Issue number                :   Y594

Issue date                  :   21 September 2005

Maturity date               :   20 September 2006

Amount applied              :   HK$3,910 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   3.57 PCT

Highest yield accepted      :   3.58 PCT

Pro rata ratio              :   About 68 PCT

Average tender yield        :   3.59 PCT

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Hong Kong Monetary Authority
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Tenders to be held in the week beginning - 26 Sept 05:-

Tender date                 :   27 September 2005

Paper on offer              :   EF Bills

Issue number                :   Q539

Issue date                  :   28 September 2005

Maturity date               :   28 December 2005

Tenor                       :   91 Days

Amount on offer             :   HK$2,744 MN

* * * * * * * * * * *

Tender date                 :   27 September 2005

Paper on offer              :   EF Bills

Issue number                :   H574

Issue date                  :   28 September 2005

Maturity date               :   29 March 2006

Tenor                       :   182 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, September 20, 2005
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