Exchange Fund Bills Tender Results

Tender date                 :   28 September 2004

Paper on offer              :   EF Bills

Issue number                :   Q439

Issue date                  :   30 September 2004

Maturity date               :   29 December 2004

Amount applied              :   HK$10,250 MN

Amount allotted             :   HK$2,302 MN

Average yield accepted      :   0.81 PCT

Highest yield accepted      :   0.82 PCT

Pro rata ratio              :   About 57 PCT

Average tender yield        :   0.83 PCT

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Tender date                 :   28 September 2004

Paper on offer              :   EF Bills

Issue number                :   H474

Issue date                  :   30 September 2004

Maturity date               :   30 March 2005

Amount applied              :   HK$4,700 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   1.00 PCT

Highest yield accepted      :   1.01 PCT

Pro rata ratio              :   About 46 PCT

Average tender yield        :   1.02 PCT

End/Tuesday, September 28, 2004
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