Exchange Fund Notes Tender Result

Tender date                      :   14 December 2007 

Paper on offer                   :   EF Notes 

Issue number                     :   05Y1212 

Issue date                       :   17 December 2007 

Maturity date                    :   17 December 2012 

Coupon                           :   2.66% 
 
Competitive Tender Result

Amount applied                   :   HK$4,520 MN 

Amount allotted                  :   HK$1,000 MN 

Average price accepted (yield)   :   98.41 (3.03 PCT) 

Lowest price accepted (yield)    :   98.30 (3.05 PCT) 

Pro rata ratio                   :   About 16 PCT 

Average tender price (yield)     :   98.18 (3.08 PCT) 

Non-competitive Tender Results(for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   0 

Amount allotted                  :   0 

Allotment Price (yield)          :   Nil 

* * * * * * * * * *

Tender date                      :   14 December 2007 

Paper on offer                   :   EF Notes 

Issue number                     :   5012
                                     (Re-opening issue) 

Issue date                       :   17 December 2007 

Maturity date                    :   20 December 2010 

Coupon                           :   4.26% 
 
Competitive Tender Result

Amount applied                   :   HK$5,110 MN 

Amount allotted                  :   HK$1,200 MN 

Average price accepted (yield)   :   104.66 (2.65 PCT) 

Lowest price accepted (yield)    :   104.65 (2.66 PCT) 

Pro rata ratio                   :   About 27 PCT 

Average tender price (yield)     :   104.43 (2.74 PCT) 

Non-competitive Tender Results(for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   0 

Amount allotted                  :   0 

Allotment Price (yield)          :   Nil  

 

End/Friday, 14 December 2007
NNNN