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Following is the transcript (English portion) of the meet-the-media session given by the Secretary for Financial Services and the Treasury, Mr Frederick Ma, on the report of the Panel of Inquiry on the penny stocks incident at the Central Government Offices today (September 10):

Reporter: Mr Ma, have you at any time considered resigning over this? And also you said you've pledged to improve your performance in future, have you taken any step so far in this direction?

Secretary for Financial Services and the Treasury: I think the report has clearly mentioned about my role in the whole affair and that I have not failed in discharging my responsibilities. This is my third month in the job, I can assure all of you that I have done my very best to improve my work and that I am confident that I will do very well in the future. Thank you.

Reporter: Do you feel personally that there was a manipulation of stocks on July 26 that prompted this rather delayed but sharp reaction, and if so, by whom?

Secretary for Financial Services and the Treasury: I think you should refer to chapter 10 of the report in that regard.

Reporter: You personally agree with it. Okay?

Secretary for Financial Services and the Treasury: I'm referring you to chapter 10 of the report.

(Please also refer to the Chinese portion of the transcript)

End/Tuesday, September 10, 2002

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• Report of the Panel of Inquiry on the penny stocks incident
• Floor/ Cantonese/ Putonghua/ English
• Panel completed and delivered report to the Financial Secretary
• Chief Executive's transcript
• Financial Secretary's Statement on Report on Penny Stocks Incident
• Statement by Secretary for Financial Services & the Treasury