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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                    : August 24, 2012

Paper on offer                 : EF Notes

Issue number                   : 15Y2708

Issue date                     : August 27, 2012

Maturity date                  : August 27, 2027

Coupon                         : 0.80%

Competitive Tender Result

Amount applied                 : HK$1,760 MN

Amount allotted                : HK$600 MN

Average price accepted (yield) : 100.35 (0.78 PCT)

Lowest price accepted (yield)  : 100.01 (0.80 PCT)

Pro rata ratio                 : 50%

Average tender price (yield)   : 99.68 (0.82 PCT)

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

Amount applied                 : 0

Amount allotted                : 0

Allotment Price (yield)        : NIL

Ends/Friday, August 24, 2012
Issued at HKT 16:30

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