Tracker Fund of Hong Kong Tap Issue Limit

The following press release was issued by Exchange Fund Investment Limited on 15 March 2000:

Tracker Fund of Hong Kong Tap Issue Limit

Exchange Fund Investment Limited announced that the Hong Kong Monetary Authority has today advised State Street Global Advisors (HK) Limited, the Manager of TraHK, that the maximum number of Units for which Hang Seng Index Shares will be made available under the Tap Facility for the period from 1 April 2000 to 30 June 2000 will be 715 million Units. The value of this Tap Issue Limit is approximately HK$12 billion, calculated by reference to the Nominal Closing Price of a Unit of TraHK quoted by the Stock Exchange of Hong Kong on 15 March 2000.

Exchange Fund Investment Limited

15 March 2000