Exchange Fund Notes Tender Result

Tender date                      :   13 February 2009

Paper on offer                   :   EF Notes

Issue number                     :   02Y1102

Issue date                       :   16 February 2009

Maturity date                    :   16 February 2011

Coupon                           :   0.75%

Competitive Tender Result

Amount applied                   :   HK$4,190 MN

Amount allotted                  :   HK$1,200 MN

Average price accepted (yield)   :   100.32 (0.59 PCT)

Lowest price accepted (yield)    :   100.30 (0.60 PCT)

Pro rata ratio                   :   About 95%

Average tender price (yield)     :   100.25 (0.62 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, 13 February, 2009
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