Hong Kong Monetary Authority Tender Results

Tender date                      :   10 May 2000

Paper on offer                   :   EF Notes

Issue number                     :   2205

Issue date                       :   12 May 2000

Maturity date                    :   13 May 2002

Coupon                           :   6.55%

Amount applied                   :   HK$3,800.05 MN

Amount allotted                  :   HK$600 MN

Average price accepted (yield)   :   99.39 (7.00 PCT)

Lowest price accepted (yield)    :   99.37 (7.01 PCT)

Pro rata ratio                   :   About 25 PCT

Average tender price (yield)     :   99.30 (7.05 PCT)

End/Wednesday, May 10, 2000
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