Exchange Fund Bills Tender Results

Tender date                 :   1 June 2004

Paper on offer              :   EF Bills

Issue number                :   Q422

Issue date                  :   2 June 2004

Maturity date               :   1 September 2004

Amount applied              :   HK$13,110 MN

Amount allotted             :   HK$2,567 MN

Average yield accepted      :   0.23 PCT

Highest yield accepted      :   0.25 PCT

Pro rata ratio              :   ABOUT 18 PCT

Average tender yield        :   0.28 PCT

* * * * * * * * * *

Tender date                 :   1 June 2004

Paper on offer              :   EF Bills

Issue number                :   Y490

Issue date                  :   2 June 2004

Maturity date               :   1 June 2005

Amount applied              :   HK$6,990 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   1.11 PCT

Highest yield accepted      :   1.11 PCT

Pro rata ratio              :   ABOUT 47 PCT

Average tender yield        :   1.14 PCT

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

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

Tender to be held in the week beginning -7 June 04 :-

Tender date                 :   8 June 2004

Paper on offer              :   EF Bills

Issue number                :   Q423

Issue date                  :   9 June 2004

Maturity date               :   8 September 2004

Tenor                       :   91 Days

Amount on offer             :   HK$2,393 MN

* * * * * * * * * *

Tender date                 :   8 June 2004

Paper on offer              :   EF Bills

Issue number                :   H466

Issue date                  :   9 June 2004

Maturity date               :   8 December 2004

Tenor                       :   182 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, June 1, 2004
NNNN