Exchange Fund Bills Tender Results

Tender date                 :   21 June 2005

Paper on offer              :   EF Bills

Issue number                :   Q525

Issue date                  :   22 June 2005

Maturity date               :   21 September 2005

Amount applied              :   HK$18,997 MN

Amount allotted             :   HK$3,204 MN

Average yield accepted      :   2.70 PCT

Highest yield accepted      :   2.72 PCT

Pro rata ratio              :   About 5 PCT

Average tender yield        :   2.72 PCT

* * * * * * * * *

Tender date                 :   21 June 2005

Paper on offer              :   EF Bills

Issue number                :   H567

Issue date                  :   22 June 2005

Maturity date               :   21 December 2005

Amount applied              :   HK$9,080

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   2.78 PCT

Highest yield accepted      :   2.78 PCT

Pro rata ratio              :   About 16 PCT

Average tender yield        :   2.79 PCT

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Hong Kong Monetary Authority
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Tenders to be held in the week beginning - 27 Jun 05:-

Tender date                 :   28 June 2005

Paper on offer              :   EF Bills

Issue number                :   Q526

Issue date                  :   29 June 2005

Maturity date               :   28 September 2005

Tenor                       :   91 Days

Amount on offer             :   HK$2,438

* * * * * * * * * *

Tender date                 :   28 June 2005

Paper on offer              :   EF Bills

Issue number                :   Y591

Issue date                  :   29 June 2005

Maturity date               :   28 June 2006

Tenor                       :   364 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, June 21, 2005
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