Exchange Fund Notes Tender Result

Tender date                      :   14 September 2012

Paper on offer                   :   EF Notes

Issue number                     :   05Y1709

Issue date                       :   17 September 2012

Maturity date                    :   18 September 2017

Coupon                           :   0.25%

Competitive Tender Result

Amount applied                   :   HK$2,220 MN

Amount allotted                  :   HK$1,000 MN

Average price accepted (yield)   :   99.43 (0.37 PCT)

Lowest price accepted (yield)    :   99.35 (0.38 PCT)

Pro rata ratio                   :   About 91 PCT

Average tender price (yield)     :   98.97 (0.46 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                      :   14 September 2012

Paper on offer                   :   EF Notes

Issue number                     :   05Y1509
                                     (Re-opening issue)

Issue date                       :   17 September 2012

Maturity date                    :   21 September 2015

Coupon                           :   1.18%

Competitive Tender Result

Amount applied                   :   HK$3,621 MN

Amount allotted                  :   HK$1,200 MN

Average price accepted (yield)   :   102.68 (0.28 PCT)

Lowest price accepted (yield)    :   102.60 (0.31 PCT)

Pro rata ratio                   :   About 55 PCT

Average tender price (yield)     :   102.50 (0.35 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

End/Friday, 14 September 2012
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