Exchange Fund Notes Tender Result

Tender date                      :   24 August 2012

Paper on offer                   :   EF Notes

Issue number                     :   15Y2708

Issue date                       :   27 August 2012

Maturity date                    :   27 August 2027

Coupon                           :   0.80%

Competitive Tender Result

Amount applied                   :   HK$1,760 MN

Amount allotted                  :   HK$600 MN

Average price accepted (yield)   :   100.35 (0.78 PCT)

Lowest price accepted (yield)    :   100.01 (0.80 PCT)

Pro rata ratio                   :   50%

Average tender price (yield)     :   99.68 (0.82 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, 24 August, 2012
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