Tracker Fund of Hong Kong Tap Issue Limit

Exchange Fund Investment Limited (EFIL) announced that the Hong Kong Monetary Authority (HKMA) 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 October 2001 to 31 December 2001 will be 100 million Units. The value of this Tap Issue Limit is approximately HK$1 billion, calculated by reference to the Nominal Closing Price of a Unit of TraHK quoted by the Stock Exchange of Hong Kong on 14 September 2001.

The Tap Issue Limit is determined on a quarterly basis. On this occasion, having taken into account the prevailing market conditions and weak market sentiment, the HKMA, on the advice of EFIL, has decided to set the Tap Issue Limit at 100 million Units.

For further enquiries, please contact:
Fiona Chan, Chief Corporate Development Manager, at 2912 0165.

Exchange Fund Investment Limited
14 September 2001