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

Tender date                      :   13 August 2008

Paper on offer                   :   EF Notes

Issue number                     :   02Y1008

Issue date                       :   14 August 2008

Maturity date                    :   16 August 2010

Coupon                           :   2.36%

Competitive Tender Result

Amount applied                   :   HK$3,120 MN

Amount allotted                  :   HK$1,199.95 MN

Average price accepted (yield)   :   100.26 (2.24 PCT)

Lowest price accepted (yield)    :   100.21 (2.27 PCT)

Pro rata ratio                   :   About 9%

Average tender price (yield)     :   100.21 (2.27 PCT)

Non-competitive Tender Results (for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   HK$50,000

Amount allotted                  :   HK$50,000

Allotment Price (yield)          :   100.21 (2.27%)

Ends/Wednesday, August 13, 2008
Issued at HKT 14:43

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