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Hong Kong Monetary Authority Exchange Fund Notes Tender Result
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Tender date                    :  May 29 2007

Paper on offer                 :  EF Notes

Issue number                   :  07Y1405

Issue date                     :  May 30 2007

Maturity date                  :  May 30 2014

Coupon                         :  4.04%

Amount applied                 :  HK$1,722 MN

Amount allotted                :  HK$600 MN

Average price accepted (yield) :  98.12 (4.40 PCT)

Lowest price accepted (yield)  :  97.98 (4.43 PCT)

Pro rata ratio                 :  About 46 PCT

Average tender price (yield)   :  97.92 (4.44 PCT)

Ends/Tuesday, May 29, 2007
Issued at HKT 14:41

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