Tender date : 12 May 2004 Paper on offer : EF Notes Issue number : 2605 Issue date : 13 May 2004 Maturity date : 15 May 2006 Coupon : 1.76% Competitive Tender Results Amount applied : HK$4,280 MN Amount allotted : HK$1,195 MN Average price accepted (yield) : 98.78 (2.40 PCT) Lowest price accepted (yield) : 98.72 (2.43 PCT) Pro rata ratio : About 28 PCT Average tender price (yield) : 98.71 (2.44 PCT) Non-competitive Tender Results Amount applied : HK$4.55 MN Amount allotted : HK$4.55 MN Allotment price (yield) : 98.78 (2.40%) Pro rata ratio : N.A. End/Wednesday, 12 May, 2004 NNNN