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Tender date : Aug 12 2003

Paper on offer : EF Notes

Issue number : 2508

Issue date : Aug 13 2003

Maturity date : Aug 15 2005

Coupon : 1.68%

Competitive Tender Results

Amount applied : HK$5,850 MN

Amount allotted : HK$1,080 MN

Average price accepted (yield) : 99.68 (1.85 PCT)

Lowest price accepted (yield) : 99.67 (1.86 PCT)

Pro rata ratio : About 43 PCT

Average tender price (yield) : 99.63 (1.88 PCT)

Non-Competitive Tender Results

Amount applied : HK$268.3 MN

Amount allotted : HK$120.0 MN

Allotment price(yield) : 99.68 (1.85 PCT)

Pro rata ratio : About 33 PCT

End/Tuesday, August 12, 2003

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