Exchange Fund Notes Tender Result

Tender date                      :   17 June 2011

Paper on offer                   :   EF Notes

Issue number                     :   10Y2106

Issue date                       :   20 June 2011

Maturity date                    :   21 June 2021

Coupon                           :   2.31%

Competitive Tender Result

Amount applied                   :   HK$2,908 MN

Amount allotted                  :   HK$800 MN

Average price accepted (yield)   :   100.70 (2.24 PCT)

Lowest price accepted (yield)    :   100.66 (2.25 PCT)

Pro rata ratio                   :   About 97%

Average tender price (yield)     :   100.51 (2.27 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, 17 June, 2011
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