Granting of banking licence to Abbey National Treasury Services plc

The Hong Kong Monetary Authority announced today (3 October 2000) that the Monetary Authority has granted a banking licence to Abbey National Treasury Services plc (ANTS) under the Banking Ordinance. This grant of banking licence took effect on 29 September 2000.

ANTS is a wholly owned subsidiary of Abbey National plc which is the 4^th largest banking group in the United Kingdom and ranks within the top 50 of the world's banks in terms of assets.

ANTS has operated as a representative office in Hong Kong since 1996. The principal activities of the Hong Kong Branch of ANTS include investments in HK$ debt securities, provision of syndicated and corporate lending, and issuing of FRCDs and bonds.

With the granting of a banking licence to ANTS, the number of licensed banks in Hong Kong has increased to 155.

For further enquiries, please contact:

Thomas Chan, Senior Manager (Press), at 2878 1480 or
Jasmin Fung, Manager (Press), at 2878 8246

Hong Kong Monetary Authority
3 October 2000