6 July 2000

The Chief Executive
All Authorized Institutions

Dear Sir/Madam,

This is to advise that Fitch IBCA, Inc., a recognized credit rating agency for the purposes of the liquidity regime, the market risk capital adequacy framework and the lender of last resort arrangement, has changed its name to Fitch, Inc..

Should you have any questions, please contact Ms Rita Yeung at 2878 1388 or Mr Andrew Wu at 2878 1381.

Yours faithfully,

Raymond Li
Executive Director
(Banking Policy)