Hong Kong Monetary Authority Exchange Fund Bills tender results
********************************************************

The following is issued on behalf of the Hong Kong Monetary Authority:

Tender date                 :   November 24, 2011

Paper on offer              :   EF Bills

Issue number                :   M1104

Issue date                  :   November 25, 2011

Maturity date               :   December 28, 2011

Amount applied              :   HK$2,200 MN

Amount allotted             :   HK$600 MN

Average yield accepted      :   0.07 PCT

Highest yield accepted      :   0.07 PCT

Pro rata ratio              :   100 PCT

Average tender yield        :   0.09 PCT

Ends/Thursday, November 24, 2011
Issued at HKT 12:10

NNNN