Hong Kong Monetary Authority Tender Results

Tender date                    :   10 November 1999

Paper on offer                 :   EF Notes

Issue number                   :   2111

Issue date                     :   11 November 1999

Maturity date                  :   12 November 2001

Coupon                         :   6.20%

Amount applied                 :   HK$3,305.05 MN

Amount allotted                :   HK$600 MN

Average price accepted (yield) :   100.06 (6.26 PCT)

Lowest price accepted (yield)  :   100.02 (6.28 PCT)

Pro rata ratio                 :   About 28 PCT

Average tender price (yield)   :   99.94 (6.33 PCT)

End/Wednesday, November 10, 1999
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