Exchange Fund Notes Tender Result

Tender date                      :   15 June 2012

Paper on offer                   :   EF Notes

Issue number                     :   05Y1706

Issue date                       :   18 June 2012

Maturity date                    :   19 June 2017

Coupon                           :   0.44%

Competitive Tender Result

Amount applied                   :   HK$5,510 MN

Amount allotted                  :   HK$1,000 MN

Average price accepted (yield)   :   99.75 (0.49 PCT)

Lowest price accepted (yield)    :   99.71 (0.50 PCT)

Pro rata ratio                   :   About 52 PCT

Average tender price (yield)     :   99.50 (0.54 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                      :   15 June 2012

Paper on offer                   :   EF Notes

Issue number                     :   05Y1506
                                     (Re-opening issue)

Issue date                       :   18 June 2012

Maturity date                    :   15 June 2015

Coupon                           :   1.65%

Competitive Tender Result

Amount applied                   :   HK$5,987 MN

Amount allotted                  :   HK$1,200 MN

Average price accepted (yield)   :   104.09 (0.28 PCT)

Lowest price accepted (yield)    :   104.07 (0.28 PCT)

Pro rata ratio                   :   About 68 PCT

Average tender price (yield)     :   103.97 (0.32 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, 15 June 2012
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