Update on Retail Exchange Fund Note Programme

Press Releases

10 Aug 2005

Update on Retail Exchange Fund Note Programme

The Hong Kong Monetary Authority (HKMA) announced today (Wednesday) that the retail non-competitive subscription of the 2-year Exchange Fund Note (EFN) under the refined Retail Exchange Fund Note Programme had exceeded the amount of HK$200 million on offer. As at 2:00 p.m. today, the seven Distributors reported that a total of HK$238 million of subscription money from retail investors had been received.

The tender of the 2-year EFN will be held on 12 August 2005 (Friday) and the successful bidders will be awarded the EFNs on 15 August 2005 (Monday). Details of the tender results will be announced not later than 3:00 p.m. on the tender day.

Further information on the Retail Exchange Fund Note Programme and the EFNs can be found at "Exchange Fund Notes: Information for investors" on the HKMA website (http://www.hkma.gov.hk).

For further enquiries, please contact:

Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
10 August 2005

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Last revision date : 10 August 2005