Hong Kong Monetary Authority Exchange Fund Notes Tender Result
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Tender date                      :   March 16 2007

Paper on offer                   :   EF Notes

Issue number                     :   05Y1203

Issue date                       :   March 19 2007

Maturity date                    :   March 19 2012

Coupon                           :   4.06%

Amount applied                   :   HK$2,502 MN

Amount allotted                  :   HK$1,000 MN

Average price accepted (yield)   :   99.98 (4.11 PCT)

Lowest price accepted (yield)    :   99.95 (4.11 PCT)

Pro rata ratio                   :   About 58 PCT

Average tender price (yield)     :   99.91 (4.12 PCT)

Ends/Friday, March 16, 2007
Issued at HKT 14:27

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