Tender for the Twenty-Third Issue of 3-Year Exchange Fund Notes

The Hong Kong Monetary Authority announces that the tender for the twenty-third issue of 3-year Exchange Fund Notes will be held on Thursday, 22 April 1999 for settlement on Friday, 23 April 1999.

An amount of HK$600 million 3-year Notes will be on offer. The Notes will mature on 23 April 2002 and will carry interest at the rate of 6.26% 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
15 April 1999

HONG KONG MONETARY AUTHORITY
EXCHANGE FUND NOTE PROGRAMME
TENDER INFORMATION

_______________________________________________________________

Tender information for the twenty-third issue of 3-Year Exchange Fund Notes :-

Issue Number              : 3204

Tender Date and Time      : Thursday 22 April 1999,
                            9:30 a.m. to 10:30 a.m.

Issue and Settlement Date : Friday 23 April 1999

Amount on Offer           : HK$600 million

Maturity                  : Three years

Maturity Date             : 23 April 2002

Interest Rate             : 6.26% per annum payable
                            semi-annually in arrears

Interest Payment Dates    : 25 Oct 1999, 25 Apr 2000,
                            23 Oct 2000, 23 Apr 2001,
                            23 Oct 2001, 23 Apr 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
15 April 1999