Appointment of Board of Director of Exchange Fund Investment Limited

Exchange Fund Investment Limited (EFIL) announced that with effect from 7 December 2000, Ms Au King-chi has been appointed as a Director of the company. EFIL also announced that it has received the resignation from the Board of EFIL of Mrs Rebecca Lai Ko Wing-yee.

"I would like to thank Mrs Lai for her valued service and contribution to the work of EFIL over the past two years," said the Honourable Yang Ti-liang, Chairman of EFIL. "On behalf of fellow Board members, I also welcome Ms Au, and I look forward to working with her closely."

Directors of EFIL are appointed by the Financial Secretary as shareholder of EFIL on a personal basis. The latest composition of the Board is attached in the Annex.

For further enquiries, please contact:

Kent Chen, Chief Corporate Development Manager at 2912 0165

Exchange Fund Investment Limited

8 December 2000

Annex

Exchange Fund Investment Limited
Board of Directors

The Honourable Yang Ti-liang, GBM, JP (Chairman)

Member of the Executive Council

Ms Au King-chi, JP

Deputy Secretary for Financial Services

The Honourable Chan Kam-lam

Member of the Legislative Council

Mr Norman Chan Tak-lam, SBS, JP

Deputy Chief Executive

Hong Kong Monetary Authority

Mr Eddy C. Fong, SBS, JP

Partner of PricewaterhouseCoopers

Mr Edward Ho Sing-tin, SBS, JP

Managing Director

Wong Tung & Partners Limited

The Honourable Hui Cheung-ching

Member of the Legislative Council

Mrs Marian Li Chan Sien-mun

Chief Executive Officer

Exchange Fund Investment Limited

Professor Tsang Shu-ki

Department of Economics

Hong Kong Baptist University

Mr William Turnbull, OBE, JP

Retired Solicitor

Ms Amy Yip Yok-tak, BBS, JP

Executive Director

Hong Kong Monetary Authority