Tender date : 12 May 2006 Paper on offer : EF Notes Issue number : 2805 Issue date : 15 May 2006 Maturity date : 15 May 2008 Coupon rate : 4.30% Competitive Tender Result Amount applied : HK$4,182 MN Amount allotted : HK$1,000 MN Average price accepted (yield) : 100.25 (4.21%) Lowest price accepted (yield) : 100.20 (4.24%) Pro rata ratio : About 1% Average tender price (yield) : 100.16 (4.26%) Non-competitive Tender Results Amount applied : HK$277 MN Amount allotted : HK$200 MN Allotment Price (yield) : 100.20 (4.24%) Pro rata ratio : About 61% End/Friday, 12 May, 2006 NNNN