Exchange Fund Bills Tender Results

Tender date                 :   17 February 2004

Paper on offer              :   EF Bills

Issue number                :   Q407

Issue date                  :   18 February 2004

Maturity date               :   19 May 2004

Amount applied              :   HK$24,790 MN

Amount allotted             :   HK$2,879 MN

Average yield accepted      :   -0.01 PCT

Highest yield accepted      :   0.00 PCT

Pro rata ratio              :   ABOUT 10 PCT

Average tender yield        :   0.01 PCT

* * * * * * * * * * *

Tender date                 :   17 February 2004

Paper on offer              :   EF Bills

Issue number                :   H458

Issue date                  :   18 February 2004

Maturity date               :   18 August 2004

Amount applied              :   HK$11,530 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.02 PCT

Highest yield accepted      :   0.02 PCT

Pro rata ratio              :   ABOUT 86 PCT

Average tender yield        :   0.05 PCT

-----------------------------

Hong Kong Monetary Authority
****************************

Tender to be held in the week beginning - 23 Feb 04 :-

Tender date                 :   24 February 2004

Paper on offer              :   EF Bills

Issue number                :   Q485

Issue date                  :   25 February 2004

Maturity date               :   24 March 2004

Tenor                       :   28 Days

Amount on offer             :   HK$600 MN

* * * * * * * * * * *

Tender date                 :   24 February 2004

Paper on offer              :   EF Bills

Issue number                :   Q408

Issue date                  :   25 February 2004

Maturity date               :   27 May 2004

Tenor                       :   92 Days

Amount on offer             :   HK$2,685 MN

End/Tuesday, February 17, 2004
NNNN