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Hong Kong Monetary Authority Exchange Fund Bills Tender Result
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The following is issued on behalf of the Hong Kong Monetary Authority:

Tender date                 :   October 26, 2007

Paper on offer              :   EF Bills

Issue number                :   M0708

Issue date                  :   October 29, 2007

Maturity date               :   December 5, 2007

Amount applied              :   HK$11,400 MN

Amount allotted             :   HK$600 MN

Average yield accepted      :   1.94 PCT

Highest yield accepted      :   1.95 PCT

Pro rata ratio              :   4 PCT

Average tender yield        :   1.97 PCT

Ends/Friday, October 26, 2007
Issued at HKT 12:20

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