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    The Hong Kong Monetary Authority announced today (August 2) that it had granted the transfer of the banking licence of Baden-Wurttembergische Bank Aktiengesellschaft (BW Bank) to Landesbank Baden-Wurttemberg (LBBW) under the Banking Ordinance.  The transfer took effect on August 1, 2005, the date on which the merger of BW Bank into LBBW (the "Merger") became effective in Germany.  

    Upon the Merger, BW Bank was dissolved and merged into LBBW in accordance with German law.  The transfer of the banking licence of BW Bank to LBBW enables LBBW to take on the existing business of the Hong Kong Branch of BW Bank.

    Following the transfer, the total number of licensed banks in Hong Kong remains unchanged at 131.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or

Hing-Fung Wong, Resource Co-ordinator, at 2878 1802

Ends/Tuesday, August 2, 2005

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