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 Asia 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 2001 to 30 June 2001 will be 875 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 16 March 2001.

For further enquiries, please contact:

Fiona Chan, Chief Corporate Development Manager, at 2912 0165

Exchange Fund Investment Limited

16 March 2001