Exchange Fund Bills Tender Results

Tender date                 :   24 December 2002

Paper on offer              :   EF Bills

Issue number                :   Q251

Issue date                  :   27 December 2002

Maturity date               :   26 March 2003

Amount applied              :   HK$11,800 MN

Amount allotted             :   HK$2,930 MN

Average yield accepted      :   1.31 PCT

Highest yield accepted      :   1.32 PCT

Pro rata ratio              :   About 81 PCT

Average tender yield        :   1.34 PCT

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

Tender date                 :   24 December 2002

Paper on offer              :   EF Bills

Issue number                :   H280

Issue date                  :   27 December 2002

Maturity date               :   25 June 2003

Amount applied              :   HK$5,800 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   1.34 PCT

Highest yield accepted      :   1.35 PCT

Pro rata ratio              :   About 50 PCT

Average tender yield        :   1.38 PCT

End/Tuesday, December 24, 2002
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