Tender date : 22 Jul 2004 Paper on offer : EF Notes Issue number : 5709 Issue date : 23 Jul 2004 Maturity date : 17 Sep 2007 Coupon : 3.07% Competitive Tender Results Amount applied : HK$3,195 MN Amount allotted : HK$1,189.3 MN Average price accepted (yield) : 100.31 (2.99 PCT) Lowest price accepted (yield) : 100.26 (3.00 PCT) Pro rata ratio : About 96 PCT Average tender price (yield) : 100.20 (3.02 PCT) Non-Competitive Tender Results Amount applied : HK$10.7 MN Amount allotted : HK$10.7 MN Allotment price(yield) : 100.31 (2.99 PCT) Pro rata ratio : N.A. End/Thursday, 22 July 2004 NNNN