Exchange Fund Bills Tender Results

Tender date                 :   17 December 2002

Paper on offer              :   EF Bills

Issue number                :   Q250

Issue date                  :   18 December 2002

Maturity date               :   19 March 2003

Amount applied              :   HK$11,708 MN

Amount allotted             :   HK$2,212 MN

Average yield accepted      :   1.30 PCT

Highest yield accepted      :   1.31 PCT

Pro rata ratio              :   About 8 PCT

Average tender yield        :   1.32 PCT

* * * * * * * * * * * * *

Tender date                 :   17 December 2002

Paper on offer              :   EF Bills

Issue number                :   Y297

Issue date                  :   18 December 2002

Maturity date               :   17 December 2003

Amount applied              :   HK$6,648 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   1.46 PCT

Highest yield accepted      :   1.47 PCT

Pro rata ratio              :   About 35 PCT

Average tender yield        :   1.49 PCT

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Hong Kong Monetary Authority
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Tender to be held in the week beginning - 23 Dec 02 :-

Tender date                 :   24 December 2002

Paper on offer              :   EF Bills

Issue number                :   Q251

Issue date                  :   27 December 2002

Maturity date               :   26 March 2003

Tenor                       :   89 Days

Amount on offer             :   HK$2,930 MN

* * * * * * * * * * * *

Tender date                 :   24 December 2002

Paper on offer              :   EF Bills

Issue number                :   H280

Issue date                  :   27 December 2002

Maturity date               :   25 June 2003

Tenor                       :   180 Days

Amount on offer             :   HK$1,300 MN

End/Tuesday, December 17, 2002
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