Exchange Fund Notes Tender Result

Tender date                      :   21 February 2006

Paper on offer                   :   EF Notes

Issue number                     :   7302

Issue date                       :   22 February 2006

Maturity date                    :   22 February 2013

Coupon                           :   4.13%

Amount applied                   :   HK$3,373 MN

Amount allotted                  :   HK$600 MN

Average price accepted (yield)   :   99.61 (4.24 PCT)

Lowest price accepted (yield)    :   99.60 (4.24 PCT)

Pro rata ratio                   :   About 75 PCT

Average tender price (yield)     :   99.50 (4.26 PCT)


End/Tuesday, 21 February 2006
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