Exchange Fund Notes Tender Result

Tender date                      :   3 December 2010

Paper on offer                   :   EF Notes

Issue number                     :   10Y2012

Issue date                       :   6 December 2010

Maturity date                    :   7 December 2020

Coupon                           :   2.44%

Competitive Tender Result

Amount applied                   :   HK$2,975 MN

Amount allotted                  :   HK$800 MN

Average price accepted (yield)   :   97.59(2.74 PCT)

Lowest price accepted (yield)    :   97.52(2.74 PCT)

Pro rata ratio                   :   100%

Average tender price (yield)     :   97.18 (2.78 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

End/Friday, 3 December, 2010
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