Tender for the Twelfth Issue of 5-Year Exchange Fund Notes to be held on Monday, 16 June 1997

The Hong Kong Monetary Authority announces that the tender for the twelfth issue of 5-year Exchange Fund Notes will be held on Monday, 16 June 1997 for settlement on Tuesday, 17 June 1997.

Similar to the previous issue, an amount of HK$500 million 5-year Notes will be on offer. In addition to that, another HK$100 million will be held as reserve by the Hong Kong Monetary Authority for supply to Market Makers in the secondary market. The Notes will mature on 17 June 2002 and will carry interest at the rate of 6.55% per annum payable semi-annually in arrears.

Members of the public who wish to tender for the Notes may do so through any of the Market Makers or Recognized Dealers on the published list which can be obtained from the Hong Kong Monetary Authority at 30/F, 3 Garden Road, Hong Kong (or telephone 2878 8150). Each tender must be for an amount of HK$50,000 or integral multiples thereof.

Hong Kong Monetary Authority
6 June 1997

HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION

_______________________________________________________________

Tender information for the twelfth issue of 5-Year Exchange Fund Notes :-

Issue Number               :  5206

Tender Date and Time       :  Monday 16 June 1997,
                              9:30 a.m. to 10:30 a.m.

Issue and Settlement Date  :  Tuesday 17 June 1997

Amount on Offer            :  HK$500 million plus an
                              additional HK$100 million
                              as reserve stock for the
                              Monetary Authority

Maturity                   :  Five years

Maturity Date              :  17 June 2002

Interest Rate              :  6.55% per annum payable
                              semi-annually in arrears

Interest Payment Dates     :  17 Dec 1997, 17 Jun 1998,
                              17 Dec 1998, 17 Jun 1999,
                              17 Dec 1999, 19 Jun 2000,
                              18 Dec 2000, 18 Jun 2001,
                              17 Dec 2001, 17 Jun 2002

Tender Amount              :  Each tender must be for an
                              amount of HK$50,000 or
                              integral multiples thereof.
                              Members of the public who
                              wish to tender for the Notes
                              may approach Market Makers
                              or Recognized Dealers on the
                              published list
                             
Other details              :  Please see Information
                              Memorandum published or
                              approach Market Makers or
                              Recognized Dealers

Hong Kong Monetary Authority
6 June 1997