Exchange Fund Notes Tender Result

Tender date                      :   22 June 2009

Paper on offer                   :   EF Notes

Issue number                     :   05Y1406

Issue date                       :   23 June 2009

Maturity date                    :   23 June 2014

Coupon                           :   2.46%

Competitive Tender Result

Amount applied                   :   HK$3,500 MN

Amount allotted                  :   HK$1,000 MN

Average price accepted (yield)   :   100.76 (2.31 PCT)

Lowest price accepted (yield)    :   100.70 (2.32 PCT)

Pro rata ratio                   :   About 33 PCT

Average tender price (yield)     :   100.57 (2.35 PCT)

Non-competitive Tender Results(for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   0

Amount allotted                  :   0

Allotment Price (yield)          :   Nil

* * * * * * * * * *

Tender date                      :   22 June 2009

Paper on offer                   :   EF Notes

Issue number                     :   05Y1206
                                     (Re-opening issue)

Issue date                       :   23 June 2009

Maturity date                    :   18 June 2012

Coupon                           :   4.53%

Competitive Tender Result

Amount applied                   :   HK$3,975 MN

Amount allotted                  :   HK$1,199.8 MN

Average price accepted (yield)   :   108.80 (1.51 PCT)

Lowest price accepted (yield)    :   108.75 (1.53 PCT)

Pro rata ratio                   :   About 20 PCT

Average tender price (yield)     :   108.71 (1.54 PCT)

Non-competitive Tender Results(for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   0.2 MN

Amount allotted                  :   0.2 MN

Allotment Price (yield)          :   108.75 (1.53%)

End/Monday, 22 June 2009
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