Hong Kong Monetary Authority Exchange Fund Bills Tender Results
********************************************************

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

Tender date                 :   December 6, 2011

Paper on offer              :   EF Bills

Issue number                :   Q1149

Issue date                  :   December 7, 2011

Maturity date               :   March 7, 2012

Amount applied              :   HK$52,480 MN

Amount allotted             :   HK$25,680 MN

Average yield accepted      :   0.19 PCT

Highest yield accepted      :   0.21 PCT

Pro rata ratio              :   About 16 PCT

Average tender yield        :   0.22 PCT

* * * * * * * *

Tender date                 :   December 6, 2011

Paper on offer              :   EF Bills

Issue number                :   Y1197

Issue date                  :   December 7, 2011

Maturity date               :   December 5, 2012

Amount applied              :   HK$14,880 MN

Amount allotted             :   HK$5,000 MN

Average yield accepted      :   0.20 PCT

Highest yield accepted      :   0.21 PCT

Pro rata ratio              :   About 62 PCT

Average tender yield        :   0.24 PCT

----------------------------------------------------------

Hong Kong Monetary Authority

Tenders to be held on the week beginning : December 12, 2011:

Tender date                 :   December 13, 2011

Paper on offer              :   EF Bills

Issue number                :   Q1150

Issue date                  :   December 14, 2011

Maturity date               :   March 14, 2012

Tenor                       :   91 Days

Amount on offer             :   HK$27,824 MN

* * * * * * * *

Tender date                 :   December 13, 2011

Paper on offer              :   EF Bills

Issue number                :   H1196

Issue date                  :   December 14, 2011

Maturity date               :   June 13, 2012

Tenor                       :   182 Days

Amount on offer             :   HK$9,000 MN

Ends/Tuesday, December 6, 2011
Issued at HKT 12:59

NNNN