*********************************************************

Tender date : May 27 2003

Paper on offer : EF Notes

Issue number : 7005

Issue date : May 28 2003

Maturity date : May 28 2010

Coupon : 3.19%

Amount applied : HK$4,050 MN

Amount allotted : HK$600 MN

Average price accepted (yield) : 100.74 (3.10 PCT)

Lowest price accepted (yield) : 100.73 (3.10 PCT)

Pro rata ratio : About 95 PCT

Average tender price (yield) : 100.55 (3.13 PCT)

End/Tuesday, May 27, 2003

NNNN