Granting of the transfer of restricted banking licence from Dexia Banque Internationale à Luxembourg to RBC Dexia Investor Services Bank S.A.

The Hong Kong Monetary Authority announced today that it has granted the transfer of the restricted banking licence of Dexia Banque Internationale à Luxembourg (Dexia BIL) to RBC Dexia Investor Services Bank S.A. (RDISB) under the Banking Ordinance. The transfer took effect on 2 January 2006.

On 2 January 2006, RDISB took over all the mutual fund related activities of Dexia BIL, including those of its Hong Kong branch. The transfer of the restricted banking licence of Dexia BIL to RDISB enables RDISB to take on the existing business of the Hong Kong branch of Dexia BIL.

Following the transfer, the total number of restricted licence banks in Hong Kong remains unchanged at 33.

For further enquiries, please contact:
Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
4 January 2006