Tender for the Tenth Issue of The Hong Kong Mortgage Corporation Limited Note Issuance Programme

The Hong Kong Monetary Authority (HKMA) announced today the tender for the tenth issue of The Hong Kong Mortgage Corporation Limited (HKMC) Note Issuance Programme to be held on 22 December 1999 (Wednesday).

An amount of HK$2,000 million in HKMC Bills will be offered for settlement on Thursday 23 December 1999. The 32-day Bills will be fully redeemed on 24 January 2000. Terms and conditions of the issue are described fully in the Prospectus.

The HK$2,000 million HKMC Bills issue is the second Discount Bills to be issued under the HK$20 billion HKMC Note Issuance Programme in which the HKMA acts as the arranger, custodian, agent and operator. The HKMC Bills, which are denominated in HK$50,000, will be cleared through the Central Moneymarkets Unit (CMU). Each tender must be for an amount of HK$50,000 or integral multiples thereof.

The HKMC will use the proceeds to support its general funding purposes.

Hong Kong Monetary Authority
16 December 1999

THE HONG KONG MORTGAGE CORPORATION LIMITED
NOTE ISSUANCE PROGRAMME
TENDER INFORMATION

_______________________________________________________________

Tender information for the tenth issue of The Hong Kong Mortgage 
Corporation Limited Note Issuance Programme :-

Issue Number           : S002

Tender Date and Time   : Wednesday 22 December 1999
                         9:30 a.m. to 10:30 a.m.

Issue and Settlement   : Thursday 23 December 1999
Date

Amount on Offer        : HK$2,000 million

Maturity               : 32 days

Maturity Date          : 24 January 2000

Interest Rate          : N.A.

Interest Payment Dates : N.A.

Tender Amount          : Each tender must be for an 
                         amount of HK$50,000 or 
                         integral multiples thereof.