Exchange Fund Bills Tender Results

Tender date                 :   20 December 2005

Paper on offer              :   EF Bills

Issue number                :   Q551

Issue date                  :   21 December 2005

Maturity date               :   22 March 2006

Amount applied              :   HK$9,159 MN

Amount allotted             :   HK$3,584 MN

Average yield accepted      :   3.51 PCT

Highest yield accepted      :   3.54 PCT

Pro rata ratio              :   About 2 PCT

Average tender yield        :   3.54 PCT

* * * * * * * * * * *

Tender date                 :   20 December 2005

Paper on offer              :   EF Bills

Issue number                :   H580

Issue date                  :   21 December 2005

Maturity date               :   21 June 2006

Amount applied              :   HK$3,550 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   3.72 PCT

Highest yield accepted      :   3.74 PCT

Pro rata ratio              :   About 4 PCT

Average tender yield        :   3.74 PCT


End/Tuesday, December 20, 2005
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